Source Pravda.Ru

Russian Parliament Ratifies Caspian Sea Treaty with Kazakhstan

The State Duma has ratified an agreement between Russia and Kazakhstan on dividing the northern part of the Caspian Sea in order to exert sovereign rights to exploit undersea reserves. The agreement was signed in Moscow on July 6, 1998.

The agreement sets out the main guidelines for Russian-Kazakh cooperation in exploiting the Caspian's hydrocarbon resources. According to the agreement, the northern part of the Caspian Sea is divided along a modified central line. The exact coordinates and map of this modified line are detailed in a separate protocol forming an addendum to the agreement. According to this protocol (dated May 13, 2002), Russia gains the right to develop the Khvalynskoye deposit as well as the Central structure. Kazakhstan gains the right to develop the Kurmangazy structure. According to the terms of the agreement, hydrocarbon reserves in these deposits and structures will be exploited on a joint basis. The Kurmangazy and Central structures are to be split 50-50, although 25% of the Russian share at Kurmangazy and 25% of the Kazakh share at Central are to be reserved as an option that will be exploited by companies from the two states on a commercial basis after the fields have been opened. The division of the Khvalynskoye deposit will be determined at a later date by the two parties.

According to the Russian Foreign Ministry and Environment Ministry, implementation of the agreement will provide Russian companies with favourable conditions for exploiting oil and gas reserves in the northern Caspian, which will increase employment, raise oil and gas production levels, and increase tax returns to the federal budget. In addition, ratification of the document will enable Russian and Kazakhstan to step up collaboration in environmental protection and fishing.

Comments
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Russians lose faith in their future, get ready for worse
Macron challenges Trump. French independence and croissants at stake
Russia unveils nuclear-powered interstellar spaceship
Russia unveils nuclear-powered interstellar spaceship
Moving inexorably towards war
Russians lose faith in their future, get ready for worse
Sanctions do not stop foreign countries from buying Russia's S-400 systems
Sanctions do not stop foreign countries from buying Russia's S-400 systems
Russians lose faith in their future, get ready for worse
Russians lose faith in their future, get ready for worse
Putin dislikes the idea of US army bases coming to Kuril Islands
NATO to build prestrike staging base in Georgia
NATO to build prestrike staging base in Georgia
The difference between Polish and Ukrainian nationalism is plain to see
Sanctions do not stop foreign countries from buying Russia's S-400 systems
Sanctions do not stop foreign countries from buying Russia's S-400 systems
Russia rips its economy apart with help from the West
Hillary in 2020?
NATO to build prestrike staging base in Georgia