(MENAFN- Trend News Agency) ASTANA, Kazakhstan, November 11. Kazakhstan has attracted over $70 million in investment for hydrocarbon exploration over the next six years, Deputy Minister of Energy Kayyrkhan Tutkyshbaev revealed at a government meeting, Trend reports.

Tutkyshbaev highlighted efforts to ensure transparency and openness in subsoil use auctions. Since 2020, the auction process has been fully automated through the e-qazyna portal. In 2025, the ministry conducted two auctions, resulting in 11 new contracts and 10.6 billion tenge ($20.2 million) paid to the state budget.

The deputy minister noted that notifications through the Unified State Subsoil Management System (EGSU) are sent electronically. Following the 2024 annual monitoring, 167 notifications were issued to subsoil users for breaches of contract obligations, totaling around 19 billion tenge ($36.1 million), of which about 2 billion tenge ($3.8 million) has been recovered to date.

In line with a presidential directive to review subsoil plots held without fulfilling contractual obligations, the ministry terminated 17 contracts this year, Tutkyshbaev added, emphasizing that oversight of subsoil use remains under constant ministry control.

MENAFN11112025000187011040ID1110324984