Abstract

The first Kazakhstan Production Sharing Agreement was signed in the early 1990s when the country had experienced a difficult economic situation due to the consequences of the collapse of the Soviet Union. These 17 years of independence significantly influenced Kazakhstan's development and progress. The purpose of this paper is to find out if it is economically reasonable now for an oil producing country i.e. Kazakhstan to use a Production Sharing Agreement. The question has to be answered taking into account all the improvements that have occurred in the country during the last ...