Introduction of Export Customs Duty for Crude Oil

Dear Sirs,

We would like to inform you about introduction of export customs duty for crude oil.

On 13th July, 2010 the Government of the Republic of Kazakhstan issued a resolution on introduction of export customs duty for crude oil and increase of the rates of the duty for oil products.

According to the resolution the export customs duty for crude oil will amount to USD 20 per ton. The export customs duty will apply to all subsurface use contracts except for PSAs which establish stability of export customs duties.

We will provide you with more detailed information after official publication of the resolution.

We hope this information will be useful for you. Should you have any additional questions, please do not hesitate to contact Talgat Sariev (tbs@signumlaw.com) and Rakhat Baisuanov (rdb@signumlaw.com).

Information contained in this Client Update is of general nature and cannot be used as legal advice or recommendation. Please seek for a specific advice in relation to any questions. Please note that Kazakhstan and Turkmenistan are emerging economies and their legislation and legal systems are in constant development. Should you have any questions or would like to discuss subjects addressed in this Client Update please contact us.