Kazakhstan has approved a list of underexplored subsoil areas available for hydrocarbon exploration and production, opening new opportunities for investors to participate in the development of prospective oil and gas regions. Under the new mechanism, investors will be able to independently initiate the granting of subsoil use rights for areas included in the approved list. The winner will be the participant offering the highest signing bonus, after which a standard contract for hydrocarbon exploration and production will be concluded. "The contract will require investors to carry out a minimum geological exploration program. The ministry noted that implementation of the mechanism will help intensify geological exploration, expand Kazakhstan’s resource base and support the further development of the country’s oil and gas sector.