**Summary**
Caspian Sunrise PLC announced significant tax concessions from the Kazakh Ministry of Energy for its flagship BNG Contract Area, specifically for the Airshagyl and Yelemes Deep structures. These concessions include the application of Alternative Subsoil Use Tax instead of historic cost, mineral extraction tax, and excess profits tax, as well as a temporary exemption from export customs duties on crude oil. As a result, new licenses have been issued for both structures
**Airshagyl**A three-year appraisal license requires credible development plans and allows additions to state-confirmed reserves. A 25-year full production license, expected during this period, mandates drilling at least two additional deep wells.
**Yelemes Deep**A two-year appraisal license permits reserve additions, with a requirement to drill three deep wells (max depth 5,000 meters) to qualify for a 25-year production license.
During the initial license periods, all production must be sold domestically at local prices. The BNG Contract Area, located near the world-class Tengiz and Kashagan fields, is considered a potentially transformational asset for the Group, which holds a 99% interest. Since 2008, over $120 million has been invested in the area, and between 2019 and mid-2025, 4.5 million barrels of oil were produced, sold for $88 million in July 2025. Chairman Clive Carver emphasized the tax concessions as a major step forward, highlighting the area’s strategic importance. The announcement was approved by a qualified petroleum engineer and is available on the company’s website.