of June 25, 2019 No. 436
About modification and amendments in the order of the Government of the Republic of Kazakhstan of November 2, 2016 No. 653 "About approval of Rules (technique) of pricing when implementing export transactions with the crude oil received as share of the Republic of Kazakhstan under the Production sharing agreement across the Northern Caspian Sea of November 18, 1997"
The government of the Republic of Kazakhstan DECIDES:
1. Bring in the order of the Government of the Republic of Kazakhstan of November 2, 2016 No. 653 "About approval of Rules (technique) of pricing when implementing export transactions with the crude oil received as share of the Republic of Kazakhstan under the Production sharing agreement across the Northern Caspian Sea of November 18, 1997" the following changes and amendment:
in Rules (technique) of pricing when implementing the export transactions with the crude oil received as share of the Republic of Kazakhstan under the Production sharing agreement across the Northern Caspian Sea of November 18, 1997 approved by the specified resolution:
state Items 3 and 4 in the following edition:
"3. Transaction price (realization) is calculated by the following formula:
P = B + S - D
where:
P - transaction price (realization) on crude oil;
In - average of the average quotations on crude oil of grade the North price Sea benchmark for 1 (one) barrel applied in the corresponding market in accordance with the terms of the contract, published in source of information of Platts for each shipment taking into account the quotations existing within five quoted days following date of the bill of lading;
S - spread (Spread vs Fwd Dated Brent in the line CPC Blend CIF), one or average several consecutive average quotations, Platts published in source of information, during the period from 10 to 25 day up to 1 day of window of loading in accordance with the terms of the contract.
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