Energy Committee Meeting

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The Meeting was devoted to discussion of necessary legislative and regulatory improvements in current subsoil use system, inter alia, Draft Chamber Proposals to the concept / basic principles to be included into the Draft of the new Subsoil Code and other issues related to the subsoil use regulatory system.




The participants discussed proposals on main principles of subsoil use, measures of investments protection, role of state authorities in subsoil use regulation, improvement of procedure on conduction of auctions, license granting and grounds for termination of subsoil use. Besides, the following issues were also raised: the role of state authorities in subsoil use regulation, control mechanism by the state subsoil authority of fulfillment by subsoil users obligations and terms of licenses, criteria for nomination of areas for auctions or PSAs.

Other questions, such as introduction of land reservation clause for subsoil use, regulation of licenses on production of associated resources as well as geological information disposal were also discussed.