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4 |30 2011 world monitor magazine 4 |30 2011 2011 a year of change for the energy industry dr christoph frei subsoil use legislation development in kazakhstan and overview 2011

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contents i 12 26 54 review 12 2011 a year of change for the energy industry 16 2011 20 power of oil 24 26 kazakhstan s energy week 28 30 caspian djinn 34 expert opinion 44 subsoil use legislation development in kazakhstan 48 54 kazakhstan legislation overview 2011 58 2011 62 specific features of kazakhstan transfer pricing legislation 64 70 war for talent ­ is it real 72 « » ­ time to move 84 the invention of the office the digital office of the xxi century 85 xxi 84 20 human resources 74 oil and gas sales managers engineers and finance specialists are at the peak of the demand list 75 30 109 airlines hotels restaurants 8 world monitor

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eurobak secretariat office julie kussidi eurobak executive director yekaterina digay darya ruzanova julie kussidi editor ­ in ­ chief editing of english version epmg company epmg 8 727 328 16 05 marketing tatyana borodikhina wmdirector@eurobak.kz wmanager@eurobak.kz olga ivassiv 98 eurobak events 92 eurobak members news 94 successful vision of eurobak in 2011 95 2011 fmcg committee 96 synopsis of the meeting discussion 96 98 eurobak networker sports events 102 mini football 2011 104 2011 lussine oganyan wmassistant@eurobak.kz design anna denisova published since february 2006 2006 address rahat palace hotel 10 th floor 29/6 satpaev str almaty 050040 tel fax 298 02 33 250 34 76/77/78/79 e-mail executive@eurobak.kz website www.eurobak.kz printed by print house gerona 458/460 seifullina ave tel 279 93 41 266 29 18 almaty republic of kazakhstan 10 29/6 050040 298 02 33 250 34 76/77/78/79 e-mail executive@eurobak.kz website www.eurobak.kz « ­ print house gerona» 458/460 279 93 41 279 95 65 circulation ­ 5100 copies ­ 5100 issued on bi monthly basis no 430 2011 no 430 2011 registration certificate no 8037 dated 10 january 2007 issued by the ministry of culture information sport of the republic of kazakhstan publisher kussidi owner sipova n the opinions of the authors may not always coincide with the opinions of the editors the editors are not responsible for the contents of the advertisements placed and the reliability of the information from the information agencies reprinting of materials published in this magazine in any form including electronic mass media is only with permission of the editors no 8037 10 2007 102 delivery partner fedex fedex 3 56 38 00 distribution list eurobak members hotels intercontinental hotel almaty hyatt regency almaty rixos almaty hotel kazakhstan hotel almaty dostyk almaty hotel radisson sas hotel astana ramada plaza astana hotel rixos astana hotel chagala hotel atyrau renaissance atyrau grand nur plaza hotel aktay renaissance aktay to the management of main kazakhstan and international companies direct delivery airlines onboard air astana etihad airlines ministries and agencies of rk embassies international exhibitions and conferences kioge kazbuild eurasian media forum etc in addition to the print version world monitor magazine is available in electronic world monitor format through eurobak website www.eurobak.kz www.eurobak.kz

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editor s address welcoming new members to eurobak bta insurance hermes datacomms intercomp global services line brew bottlers mars kazakhstan merkusheva law firm oil insurance company 8 lakes special anouncement eurobak board news by the decision of the board of director alper akdeniz managing partner of pwc has joined the board replacing alexander nisengolts of kpmg who is leaving kazakhstan dear reader this special issue dedicated to oil gas is of great importance as it coincides with the kazenergy conference in astana and the annual kioge conference to be held in almaty in this context we have prepared for you interviews and articles on oil and gas sector economic and environmental reviews related legislation and human resources matters the world monitor magazine is now available on facebook our page and be in touch with us online with an opportunity to contribute to the contents and become part of our team on eurobak news eurobak new catalogue 2011-2012 has been printed and distributed there is a schedule of planned business sports and social events and to keep you completely up to date visit our website www.eurobak.kz you will be informed of the latest developments and how be an active member of our community we wish you every success in this business season julie kussidi eurobak executive director world monitor editor-in-chief sincerely yours julie kussidi iv kazenergy xix kioge world monitor facebook 20112012 www.eurobak.kz delivery partner 10 world monitor

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review 2011 a year of change for the energy industry in 2010 it had become commonplace to state that the world had fundamentally changed over the past decade yet the events of 2011 will be remembered in history books with the impacts having profound effects on the global energy industry the developments in the middle east and north africa region and the tragedy at fukushima have added to the pressure to adapt and represent a significant set-back in solving the global energy challenges the expected doubling or even tripling of the global energy demand by 2050 the need to cut global greenhouse gases by fifty percent during the sameperiod which requires a cut of eighty percent in oecd countries the 1.5 billion people who are still without energy and the requirement for improving global governance on the management of global risks from large scale accidents require massive transformational efforts on a global scale the responsibility therefore falls upon the leaders of the global energy community to come together to seek practical and pragmatic responses to the challenges that we all face yet we can only advance a meaningful dialogue among the world s energy leaders if we know what keeps them awake at night it is their perception of what is important that defines the global energy dr christoph frei secretary general of the energy leaders organization the world energy council the world energy council provides the principal impartial forum to facilitate dialogue among energy leaders on the critical issues affecting the global energy agenda formed in 1923 with headquarters in london wec is the un accredited global energy body representing more than 3000 organizations in over 90 countries from governments private and state corporations academia ngos and energy related stakeholders wec covers the entire energy spectrum promoting the sustainable supply and use of energy for the greatest benefit of all assessing the impact of new technologies and innovation on the energy sector wec informs global regional and national energy strategies and policies wec does this by hosting high level events publishing authoritative studies and working through its extensive member network to facilitate the energy leaders dialogue 12 world monitor

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review agenda therefore in order to assess this global energy agenda and its evolution over time the world energy council conducts an annual issues survey with the chairs of its member committees including ministers ceos and leading experts in over 90 countries.the survey includes about thirty issues covering macroeconomic risks geopolitics business environment as well as energy vision in a high-level helicopter perspective in 2011 the critical uncertainties space is still dominated by climate framework uncertainty understandably the political instability in the middle east and north africa and uncertainty regarding the nuclear renaissance post fukushimahas also risen to become top concerns in comparison to 2009 macroeconomic risks related to the financial and economic crisis have lost their dominance as a key concern for the energy sector however the crisis is still looming and issues including energy price volatility commodity prices and capital market access remain in an alert position similar to 2010 since our survey began the absence of a global climate framework and the lack of progress towards a significant agreement between the

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