24.02.2009, 14:14 2693

Energy Minister suggests not terminating subsoil use contracts

The Minister of Energy and Mineral Resources of Kazakhstan, Sauat Mynbayev, suggests during the governmental hour in Majilis in the crisis conditions not terminating subsoil use contracts with the level of fulfillment of financial obligations of more than 50 %, the agency reports.

Astana. February 24. Kazakhstan Today - The Minister of Energy and Mineral Resources of Kazakhstan, Sauat Mynbayev, suggests during the governmental hour in Majilis in the crisis conditions not terminating subsoil use contracts with the level of fulfillment of financial obligations of more than 50 %, the agency reports.

"Taking into account world adverse economic situation and decrease in availability of financial assets, there could be some attenuation of investment activity of subsoil users," S. Mynbayev said.

"This factor will probably result in incomplete execution of the obligations of the contracts on subsoil use."I suggest not terminating subsoil use contracts with the level of performance of financial obligations, for example, of more than 50 %," the Minister for Energy explained.

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