Turkmenistan , Ashgabat, Oct. 3 / Trend, H.Hasanov /
The Parliament of Turkmenistan has unanimously adopted the bill on " Amendments to the Law of Turkmenistan on Hydrocarbon resources", the official Turkmen sources said.
President of Turkmenistan Gurbanguly Berdimuhamedov approved these amendments
in August 2011.
According to the bill, A rticle 64.7 of the Turkmen law "On Hydrocarbon Resources", which was adopted by Turkmenistan's Parliament on 20 August, 2008, should be as follows:
"7. Licensing the work on exploration and extraction of hydrocarbon resources that are not regulated by this law , are conducted in accordance with the Turkmen law "On licensing certain types of activities".
Turkmenistan has the second largest gas field in the world - South Yoloten-Osman, which is located in the country's east.
According to Gaffney, Cline & Associates (GCA) officials, estimated reserves of this field reach about 14 trillion cubic meters of gas, making it the world's fourth largest field.
In late October 2010, after a comprehensive work, conducted by state corporation Turkmengeologia, the perspective reserves in Yoloten were increased to 21-22 trillion cubic meters.
More than thousand perspective oil and gas structures have been discovered in Turkmenistan, both onshore and offshore Caspian Sea shelf. Only 50 of them are at the development stage.
Edited by: A.Badalova