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 — a pledge of a bank deposit or, for certain contracts, a guarantee; 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.
- A bank-deposit pledge is used for most exploration and production contracts; a guarantee is allowed 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.
- 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.