According to a government resolution, the tax has been dropped to just 0.5% for domestic sales and 0.25% for export sales, compared with the normal rate of 10% for the producer.
The resolution said that the produced oil is of high viscosity while the field is severely depleted.
Earlier in June, authorities presented non-monetary benefits to Karazhanbasmunai in an apparent bid to encourage it to invest in exploration efforts to bring on line new reserves to offset falling output.
The
