President signs law boosting investment in hydrocarbons and uranium

The text of the Law is published in the press.

The law introduces several key updates.

Firstly, the amendments formally define the status of poorly explored territories—areas where regional geological studies have not been conducted or where no promising sedimentary basins have previously been identified.

Secondly, to bolster investor confidence, the law introduces a provision that allows any company conducting geological research at its own expense to receive exclusive and guaranteed priority for subsequent exploration and extraction licenses.

The third direction concerns improving the efficiency of using reserve subsoil plots. Currently, 53 hydrocarbon sites are assigned to national companies, but active operations are underway on only about 20% of them. In the meantime, others languish for years, remaining undeveloped. The new law limits reservation periods and requires unused plots to be put up for electronic auctions, increasing competition, accelerating geological exploration, and attracting new market participants.

The fourth major provision is related to the uranium sector. In light of growing global interest in nuclear energy, the national company is granted priority rights to explore and develop new uranium deposits. The measure is intended to help maintain Kazakhstan’s energy balance and strengthen its position in the global nuclear energy market.

Qazinform previously reported that the Head of State signed the amendments reinforcing the protection of historical and cultural heritage sites.