Seven oil and gas fields to be auctioned online in Kazakhstan

Kazakhstan for the first time will host an online auction for the right to explore and produce oil and gas fields. Seven sites are expected to go under the hammer. The virtual auction will be held on December 23 on the state property register web portal. The special service was launched in early autumn. To date, the portal provides an interactive map that contains detailed information on oil and gas fields. In order to participate in the auction, a potential investor just needs to apply online. The auction can be observed through a specially created virtual hall. According to Kazakh Energy Ministry, the new mechanism will make the market transparent and significantly reduce costs for both business and government.