RulesIn force
Liquidation security rules (hydrocarbons, uranium)
On approval of the Rules for presentation and accounting of obligations assumed by the state security body to eliminate the consequences of operations in the field of hydrocarbons and/or uranium mining
Explain how hydrocarbon (and uranium) subsoil users provide, and the competent body records, security for their liquidation obligations; this mechanism replaced the former liquidation fund.
What matters for an oil & gas company
- Security is provided separately for each subsoil area and before operations begin.
- Under the Code (Art. 126) the liquidation of the consequences of hydrocarbon exploration is secured by a guarantee, a pledge of a bank deposit or insurance, and that of production by a bank-deposit pledge. Para 2 of the Rules, as worded in 2021, names a bank-deposit pledge for most exploration and production contracts (except offshore exploration) and a guarantee only for contracts concluded before the Code took effect and for subsoil users 50% or more owned (directly or indirectly) by the national managing holding (a guarantee from the holding, the national company, their subsidiaries or partners); the Code's rules apply.
- Security is sent to the competent body within 2 working days after the pledge agreement is registered or the guarantee is issued, and must be replaced within 60 calendar days if it stops meeting the Code's requirements.
The summaries are for orientation and are not legal advice. Only the official text is legally binding. Checked in September 2026.