Industries
Energy & Natural Resources
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 contract structuring, including work on existing production sharing agreements, 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; existing production sharing agreements 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 (Shell, Eni, Chevron, Lukoil and KMG) — are operated by international oil majors. KazMunayGas (KMG) retains a participation interest in most major fields. Transfers of hydrocarbon subsoil use rights require a permit from the Ministry of Energy, and on strategic subsoil plots the state also has a pre-emption right. A transfer without a permit may be declared invalid by a court on the ministry’s claim.
Renewable Energy
Kazakhstan targets 15% of electricity from renewable sources by 2030. Under the Law on Supporting the Use of Renewable Energy Sources, a new project reaches the Single Buyer's long-term purchase through an auction. Fixed tariffs remain only in contracts made before the auction provisions took effect. The Ministry of Energy planned to commission 2.64 GW of conventional and renewable capacity in 2026 (Ministry press release, 17 February 2026). 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 about 39% of world mined uranium in 2024, through Kazatomprom and its joint venture partners. Uranium mining requires a subsoil use contract, regulated by the Agency for Atomic Energy, with specific regulatory requirements around radiation safety, environmental permitting, and export controls. Uranium rights run through the national uranium company, a transfer needs a permit, and uranium deposits are strategic plots on which the State has a priority right.
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 advised the engineering contractor on a heap-leach copper cathode plant in Karaganda Region, covering branch registration, licensing, permitting and regulatory matters. 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
Key client · Power & hydropower
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.
Key client · Oil & gas
Tengizchevroil (Chevron)
Bond Stone provided legal support to Tengizchevroil — the Chevron-operated oil and gas joint venture at the Tengiz field — in 2012 on construction and regulatory matters for the reconstruction of the Kulsary water system in Atyrau Region.
Key client · Engineering & infrastructure
Kusha Madan Consulting Engineers
Bond Stone has advised Kusha Madan Consulting Engineers (KMCE) on legal matters for its engineering and infrastructure projects in Kazakhstan.
Key client · Mining & metals
Engineering contractor — copper cathode plant
Bond Stone advised the engineering contractor on a heap-leach copper cathode plant in Karaganda Region: branch registration, subsoil licensing, construction permitting, environmental compliance and regulatory matters.
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 and Construction, KEGOC, and the Agency for Protection and Development of Competition
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 use rights, oil and gas M&A, or renewable energy projects in Kazakhstan.
Request a Confidential Consultation Energy Law Practice Area → Subsoil Use Licensing →