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Oil and gas company Central

Company

Owners

+ Rosneft of the Tax Code
+ Lukoil of the Tax Code

The Government of the Russian Federation the Central Centralnaya Oil And Gas Company LLC in the Caspian Sea which 50% of stocks belong to KazMunaiGas and on 25% - to Gazprom and Lukoil granted in the summer of 2016 the license for the field.

Central Oil And Gas Company LLC is granted right to use by the subsoil plot located in the water area of the Caspian Sea within which the structure Central is located. Here it is possible to carry out geological studying, exploration and production of a hydrocarbonic raw material without holding the auction for a period of 25 years with a stage of geological studying of a subsoil to 7 years, Novosti-Kazakhstan news Agency reports.

"After end of a stage of geological studying of a subsoil this legal entity has the right to continue use of natural resources on this section using a general regime of taxation or to sign with the Government of the Russian Federation the production sharing agreement", said in the document of the Russian government.

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The joint venture of Gazprom and Lukoil - Centrakaspneftegaz - found this oil-gas condensate field with stocks of 196.1 million t of conditional fuel in 2008, however the license for geological exploration on section expired in 2009. The new license of the company could not be obtained because of prohibition to the private Russian companies to work at the shelf. However later the legislation was mitigated.

As a result of the company applied for obtaining the license for exploration and production on section. It was for this purpose necessary to create the production sharing agreement (Production Sharing Agreement), but in October, 2015 the Russian Federation and Kazakhstan approved changes in the protocol to the agreement on differentiation of a bottom of a northern part of the Caspian Sea for mining on which the condition on the Production Sharing Agreement was complied.