Interpretation of the Principle of Stability Applicable to the Terms Governing Subsoil Use in the Context of Legislation of the Republic of Kazakhstan

Nurzhan Kakimov, First Level Lawyer, Karachaganak Petroleum Operating B.V. , Kazakhstan

On December 27, 2017, the President of the Republic of Kazakhstan signed the Code on Subsoil and Subsoil Use (hereinafter - the Code). According to the transitional period provisions, the Code came into force after six months after its publication. From the day the Code entered into force, the prior Law of the Republic of Kazakhstan “On Subsoil and Subsoil Use” (hereinafter - the Law On Subsoil and Subsoil Use) dated June 24, 2010 loses its force except for its individual provisions stipulated by paragraph 14 of Article 277 of the Code.

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United Kingdom Regulation Energy May 2019 Vol.12, No. 47, Spring 2019

Nurzhan Kakimov


I was born in Petropavlovsk (Kazakhstan), on March, 18 of 1986. In 2004 I completed high school (First gymnasium). I graduated from the Eurasian National University named after Gymilev L.N. of Astana with a Bachelor Degree in International Law in 2008 and received there my Master Degree in the same field in 2010. Both were completed with merit. Starting from 2008 till 2014 I worked for head office of Tsesnabank in Astana. Initially I had a position as a Lawyer then as a Lead Lawyer the final position was Chief Lawyer. In 2014 I was employed by Karachaganak Petroleum Operating B.V. in Legal Affairs Department. Starting from 2016 to the present, I became a Lawyer looking after Marketing Department reporting directly to Legal and Marketing Directors. I’m also member of several working groups working on improvement of legislation formed by Chamber of Entrepreneurs “Atameken”; Association of subsoil users “KazEnergy”; Foreign Investment Council.

Karachaganak Petroleum Operating B.V.


Karachaganak Petroleum Operating B.V. (KPO) is a company operating one of the world’s largest gas and condensate fields located in north-west Kazakhstan and covering an area of over 280 square kilometers. KPO brings expertise and knowledge from five oil & gas companies – ENI (29.25 per cent), Royal Dutch Shell plc (29.25 per cent), Chevron (18 per cent), Lukoil (13.5 per cent) and KazMunaiGas (10 per cent). These companies signed a Final Production Sharing Agreement (FPSA) which will see the partnership operate Karachaganak until 2038.

United Kingdom Regulation Energy May 2019 Vol.12, No. 47, Spring 2019

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