Ashgabat, Turkmenistan, July 18
By Huseyn Hasanov– Trend:
According to Turkmen President Gurbanguly Berdimuhamedov’s decree, the State Agency on Management and Use of Hydrocarbon Resources under the president stopped its activity.
According to the decree, the state agency’s assignees are Turkmengaz, Turkmennebit (Turkmenoil) state concerns.
In particular, Turkmengaz State Concern will become an assignee according to the production sharing treaty (PSA) on the Bagtyyarlyk contractual territory signed with China National Petroleum Corporation (CNPC) and PSA on Block 1 contractual territory, signed with Petronas
Company (Malaysia), according to the decree.
Turkmennebit State Concern will become an assignee according to the PSA on the Cheleken contractual territory signed with Dragon Oil company (UAE), PSA on Nebit Dag contractual territory signed with Eni company (Italy), PSA on Khazar contractual territory signed with Mitro International Limited (Austria), PSA on Block 3 contractual territory signed with Buried Hill company (UK), PSA on Block 21 contractual territory signed with ARETI company (Cyprus), PSA on Block 23 contractual territory signed with RWE Dea AG company (Germany).
According to the decree, the funds from the foreign currency account of the state agency will be transferred to Turkmengaz’s special account in the central bank.
The state concerns together with the Turkmen Ministry of Justice within a month should prepare proposals to amend the laws of the country and submit for consideration to the country’s Cabinet of Ministers.