«Problems of economics and management of oil and gas complex»

Analysis of institutional barriers and drivers of joint ventures efficiency in the oil and gas industry in the EAEU countries on the example of Kazakhstan

UDC: 339.924
DOI: -

Authors:

¹ Oil and Gas Council of Kazakhstan "Petro Council", Atyrau, Kazakhstan
² Kazakh-British Technical University, Almaty, Kazakhstan

Keywords: institutional barriers to joint ventures, institutional drivers of joint venture efficiency, joint ventures (JV) in the oil and gas industry, Eurasian economic integration of the EAEU, fragmentation of the regulatory framework, digitalization of administrative processes, state investment support programs, public-private partnerships in energy, special economic zones of Kazakhstan, protection of investors' rights

Annotation:

The authors of the article present a comprehensive analysis of the institutional factors that hinder or facilitate the performance efficiency of joint ventures (JV) in the oil and gas sector of the Eurasian Economic Union (EAEU), with a particular focus on Kazakhstan. By examining the fragmentation of the regulatory framework, divergent investment regimes, cumbersome administrative procedures and the lack of unified dispute resolution mechanisms, the author highlights key barriers that increase transaction costs and create uncertainty for cross-border partnerships. At the same time, it identifies institutional drivers, including digitalization initiatives, state support programs, public-private partnerships and strategic cooperation with external partners such as China, that enhance the attractiveness and effectiveness of JV. Based on a review of legislation, political documents, and industry reports, the author highlights the urgent need of supranational harmonization of EAEU rules, along with targeted national reforms in Kazakhstan. The recommendations include the adoption of uniform corporate standards, strengthening investor protection and expanding special economic zones to facilitate the creation of a transparent, predictable and integrated investment environment for the sustainable development of the region's strategic energy sector.

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