Vladimir Putin and Nursultan Nazarbayev signed the document on the delimitation of the seabed of the Caspian sea. Earlier it was noted that the document regulates the issues of overall development of oil-bearing structure.
Vladimir Putin and Nursultan Nazarbayev signed a Protocol on introducing changes to the agreement between Russia and Kazakhstan on delimiting the Northern part of the Caspian sea to implement sovereign rights for subsoil use dated July 6, 1998, says "Interfax". Previously assistant to the Russian President Yuri Ushakov claimed that the document regulates the issues of joint development of oil-bearing structure "Central".
He has been preparing since the middle of 2014. The signing of the Protocol will allow the Russian government to issue a license for exploration and production of oil and gas on the Caspian shelf. It is expected that permission will be granted without auction and contest for 25 years with the stage of geological study of subsurface for a period of up to 7 years.
The Tsentralnaya structure is located within the domestic sector of the Caspian sea 180 km to the East of Makhachkala, but its study should be conducted with the participation of Kazakh partners. The license for geological exploration about the domestic sector of the Caspian sea belonged to the company "TsentrKaspneftegaz". Its shareholders on parity basis are LUKOIL and Gazprom.
Also, a license will attract funding to support research bowels of the authorized company from Kazakhstan. After the exploration "TsentrKaspneftegaz" can continue to use subsoil with the use of joint taxation.