Enhancing the stability of the oil and gas investment climate in the Republic of Kazakhstan. Project Outcomes and Recommendations
The core concept of this two-year project is the hypothesis that the policy imperative of‘sustainable development’ (i.e. an integrated approach to securing environmental, social and~economic benefits) offers a valuable entry point for multi-stakeholder analysis and dialogue on oil and gas investment in Kazakhstan. The aim of the project has been to identify critical~issues and develop policy recommendations for enhancing long-term investment stability in the oil and gas sector in Kazakhstan. The project was designed and coordinated by the International Institute for Environment and Development (IIED), a London-based think tank, in partnership with a range of Kazakhstani experts. Funding for the project was provided by the British Embassy in Astana. The timeline of the project has coincided with several important legislative changes in Kazakhstan that will impact the future stability of oil and gas investment in the country,~including a new Tax Code and most importantly the parliamentary consideration of a new draft Law on Subsurface Use. The re-negotiation of the Kashagan Production Sharing Agreement also occurred during the life of the project.