Media: Kazakhstan eases rules to boost oil, uranium output

Kazakhstan’s Mazhilis (lower house of parliament) has approved a set of amendments aimed at stimulating investment and boosting output in the country’s oil and uranium sectors.

Lawmakers passed changes to the Code on Subsoil and Subsoil Use in a second reading, creating special conditions for the development of hard-to-extract oil reserves, including heavy, bituminous and shale deposits that require advanced technology, Caliber.Az reports via Orda.kz.

The new rules will allow drilling to depths of up to five thousand metres without altering licence boundaries, while also offering tax and administrative incentives for companies using innovative extraction methods.

Authorities also plan to simplify the process for obtaining exploration and production rights. Paper-based protocols and commissions will be scrapped, and the review period for applications or the recognition of failed tenders will be shortened.

The government says the reforms are designed to attract foreign investment, improve efficiency in resource development, and strengthen Kazakhstan’s standing in the uranium industry.

Officials added that switching to an electronic auction system would make the process more transparent and investor-friendly.

By Aghakazim Guliyev