Energy & Natural Resources
INDUSTRY · ENERGY & NATURAL RESOURCES
Energy and Natural Resources in Kazakhstan
Kazakhstan holds some of the world’s largest proven hydrocarbon reserves and is a major global producer of uranium, coal, and metals. The energy and natural resources sector is the backbone of the Kazakhstani economy, attracting sustained foreign direct investment from multinational energy companies, trading houses, and sovereign wealth funds.
Bond Stone advises clients across the full project lifecycle — from subsoil use rights acquisition and production sharing agreement structuring through to regulatory compliance, asset transfers, and cross-border dispute resolution. Our work spans oil and gas, uranium, coal, renewable energy, and electricity market regulation.
Kazakhstan’s upstream sector is governed by the Subsoil Code of 2017, which establishes licence and contractual regimes for subsurface use rights. State pre-emptive rights, trunk pipeline restrictions, and mandatory local content requirements create a complex compliance environment that requires experienced in-country counsel.
Our energy and natural resources practice covers: subsoil use licensing and contract negotiation; production sharing and joint venture agreements; Ministry of Energy regulatory filings; asset acquisition due diligence; project finance and security structuring; cross-border M&A involving energy assets; and dispute resolution before Kazakhstani courts and the AIFC Court.
Read our full Energy & Natural Resources legal services overview →
Kazakhstan Energy Sector — Key Segments
Oil & Gas
Kazakhstan is one of the world’s top 15 oil producers. The three major fields — Tengiz (Chevron-operated), Kashagan (North Caspian Operating Company), and Karachaganak (BG Group/Shell/Chevron/ENI) — are operated by international oil majors. KazMunayGaz (KMG) retains a participation interest in most major fields. Subsoil use licence acquisitions require state pre-emption right notification and written waiver from the Ministry of Industry and Infrastructure Development before any transfer is valid.
Renewable Energy
Kazakhstan has committed to generating 15% of electricity from renewable sources by 2030. The renewable energy support framework is based on fixed PPA tariffs with the Single Buyer and Ministry of Energy project registration under the Law on Support of Use of Renewable Energy Sources. 68 new energy projects were scheduled as of 2026, including five new hydropower plants in Zhetysu Region. Bond Stone has advised CWE (China Three Gorges) on renewable energy M&A and investment structuring in Kazakhstan since 2007.
Uranium
Kazakhstan is the world’s largest uranium producer, accounting for approximately 43% of global uranium output through Kazatomprom and its joint venture partners. Uranium mining requires subsoil use licences with specific regulatory requirements around radiation safety, environmental permitting, and export controls. Foreign investment in the uranium sector is subject to strategic sector approval requirements.
Mining & Metals
Kazakhstan holds significant reserves of copper, gold, zinc, chromite, manganese, and rare earth minerals. The mining sector is one of the most active for cross-border M&A by Chinese, Australian, and European investors. Bond Stone advises IRKAZ Metal Corporation LLP on all corporate, licensing, and regulatory matters at the Borly copper deposit — a 5,000 tonne/year cathode copper plant using heap leaching, with a third expansion phase underway targeting an additional 5,000 tonnes annually. Bond Stone also manages subsoil licence acquisitions and mining sector M&A mandates for international mining investors. See: Mining & Metals Industry Hub →
Power Generation & Grid Infrastructure
Kazakhstan’s national electricity transmission grid is operated by KEGOC (Kazakhstan Electricity Grid Operating Company). Bond Stone has conducted a legal audit of KEGOC (mandate value: USD 13 million) for infrastructure investor clients and advises on grid connection agreements and power purchase agreements for renewable energy projects.
Key Clients — Energy & Natural Resources
CWE / China International Water & Electric Corporation (China Three Gorges)
Bond Stone advised CWE on the Moinak Hydropower Plant (300MW, USD 360 million) — Kazakhstan’s first major Sino-Kazakh energy infrastructure project — and continues to advise on CWE’s renewable energy portfolio mandate covering wind, solar, and hydropower projects.
“Moinak HPP was successfully commissioned on June 24th, 2013. BOND STONE acted as a legal consultant for the project on behalf of the China International Water & Electric Corporation.” — Van Jing, CWE
Tengizchevroil (Chevron)
Bond Stone has provided ongoing legal support to Tengizchevroil — the Chevron-operated oil and gas joint venture at the Tengiz field — for construction and regulatory matters at the Kulsary project in Atyrau Region.
“BOND STONE has established itself as a reliable provider of legal services. To confirm it, I can mention the reconstruction of the water supply system in Kulsary.” — Myra Esengeldieva, Tengizchevroil
Kusha Madan Consulting Engineers
Bond Stone has advised Kusha Madan Consulting Engineers (KMCE) since 2018 on legal matters across its engineering and infrastructure projects in Kazakhstan.
“Their profound expertise, unwavering commitment to professionalism, and their ability to promptly cater to our legal needs have played a pivotal role in our sustained prosperity.” — Arash Pashapour, Branch Office Director, Kusha Madan Consulting Engineers
IRKAZ Metal Corporation (Kavand Nahan Zamin / Iran)
Bond Stone advises IRKAZ Metal Corporation LLP — a joint Kazakh-Iranian venture operating the Borly copper cathode plant in Karaganda Region — on corporate, subsoil licensing, construction permitting, environmental compliance, and regulatory matters. The plant operates at 5,000 tonnes of cathode copper per year using heap leaching, with a third phase expansion underway. Borly deposit: 115 million tonnes of ore at 0.35% average copper content. Total investment: USD 20 million.
Why Bond Stone for Kazakhstan Energy & Natural Resources
✦ Legal 500 EMEA Top Tier — Energy and Natural Resources, Kazakhstan
✦ USD 3.68 billion — KMG International / CEFC China Energy acquisition (lead Kazakhstani counsel)
✦ USD 360 million — Moinak Hydropower Plant, CWE / China Three Gorges (legal consultant, commissioned June 2013)
✦ 18+ years advising Chinese energy investors entering Kazakhstan — EPC, M&A, renewable energy, subsoil licences
✦ Almaty and Astana offices — direct engagement with Ministry of Energy, Ministry of Industry, KEGOC, and AZRK
Primary authority: adilet.zan.kz · Bond Stone offices: Almaty · Astana
Discuss your Kazakhstan energy matter
Contact Bond Stone for a confidential discussion about energy investment, subsoil licences, oil and gas M&A, or renewable energy projects in Kazakhstan.
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