New deputy chairman appointed in Turkmen Cabinet of Ministers

New deputy chairman appointed in Turkmen Cabinet of Ministers

Turkmenistan, Ashgabat, May 26 / Trend H. Hasanov /

Director of State Agency for Management and Use of Hydrocarbon Resources under the Turkmen President Yagshygeldi Kakayev was appointed Deputy Chairman of the Cabinet of Ministers (Deputy Prime Minister) of the country.

The corresponding decree was signed by Turkmen President Gurbanguly Berdimuhamedov.

According to the law, Kakayev is also an advisor to the Turkmen President. Besides the main functions, he must control the implementation of the projects carried out in the oil and gas sector with the participation of foreign companies.

"The agency conducts extensive and very important work," the Turkmen Dovlet Khabarlary state news service said today.

Kakayev graduated from the Turkmen Polytechnic Institute in 1982. He was the head of department at the Turkmen Ministry of Petroleum and Mineral Resources from 1996 to 2007.

In 2007 he was appointed as chairman of the State Concern "Turkmengaz". He has worked as Director of the State Agency for Management and Use of Hydrocarbon Resources under the Turkmen President since August 2008.

The main tasks of this agency are to consider investment proposals, to issue licenses for the use of hydrocarbon resources, to hold negotiations, to conclude contracts on the construction and use of pipelines with foreign organizations. The agency issues licenses for exploration and development projects within production sharing agreements.

At present, Turkmenistan invites foreign companies to take part in the development of national sector of the Caspian Sea. According to the estimations, about 11 billion tons of oil and 5.5 trillion cubic meters of gas of projected resources are concentrated there, without taking into account the contracted blocks.

Turkmen specialists say that more than 80 percent of hydrocarbon reserves are located offshore at a depth of 3,000 meters, as well as in poorly studied oil and gas areas. So, there is still a high probability of discovering new significant oil and gas fields. New
prospects are mainly associated with two large oil and gas basins - Middle Caspian and South Caspian.

The companies from Great Britain, Russia, Germany, Italy, Malaysia, UAE,
Canada and China work in Turkmenistan on the basis of PSA contracts. Petronas, Dragon Oil, Burried Hill, RWE, Itera, Zarubezhneft were involved in the development of the Turkmen section of Caspian Sea. ENI (having Burren Energy's shares) and CNPC operate onshore.

Subscribe to Trend in Google News! Subscribe
National Bank of Georgia to adopt regulations for cryptocurrency trading platforms
National Bank of Georgia to adopt regulations for cryptocurrency trading platforms
Azerbaijan’s Buta Airways becomes most active passenger carrier in Georgia
Azerbaijan’s Buta Airways becomes most active passenger carrier in Georgia
TBC Capital shares data on mortgage loans issuance in Georgia
TBC Capital shares data on mortgage loans issuance in Georgia
Loading Bars
Latest
Erdogan appoints Bekir Bozdag as Justice Minister
Another passenger bus leaves Baku for Shusha (PHOTO/VIDEO)
U.S. Senator Mitt Romney tests positive for COVID-19
Spain's economy grows by 5 pct in 2021: INE
British PM Johnson eyes Japan visit in Feb.
Turkey's daily COVID-19 caseload hits new high of 93,586
U.S. FAA says Verizon, AT&T can turn on more towers for 5G deployment
Belgium's total COVID-19 infections exceed 3 mln
Biden says he'll send troops to eastern Europe in ‘near term'
U.S. airlines cancel almost 5,000 flights ahead of Nor'easter
Argentina announces debt agreement with IMF
Canada's COVID-19 cases surpass 3 mln
Fake news, disinformation on COVID, is human rights violation: Pope Francis
Tunisia thwarts alleged terrorist attack targeting tourist areas
Turkey welcomes Kyrgyzstan-Tajikistan ceasefire
UN chief calls for observing Olympic Truce
UN thanks Azerbaijan for contributions to budget of organization
Residents of Bina settlement express gratitude to President Ilham Aliyev and First Lady Mehriban Aliyeva for establishment of Training and Service Complex (PHOTO/VIDEO)
Russia expands retaliatory list of EU representatives banned from entering country — MFA
Ten injured after bridge collapses in U.S. city Pittsburgh
Iran deal talks are adjourned until next week — EU
Erdogan to visit Ukraine on Feb 3 as part of mediation efforts
Germany's exports to UK continue to decline in 2021: Destatis
Azerbaijan's Agency for State Support to NGOs, Turkey's Ministry of Interior sign memorandum of co-op (PHOTO)
Embassy of India organised Blood Donation Drive (PHOTO)
Tractor hits mine in Azerbaijan's Fuzuli district
Uzbek Central Bank notes growth in volume of loans issued to individuals
Uzbekistan shares data on loan portfolio of its banks for 2021
Russian veterans urge to check Union of Armenians in Russia regarding film about Garegin Nzhdeh
Azerbaijan's Nakhchivan reveals revenue data from communication and information services
Remains of Armenian soldier found in Azerbaijan's Fuzuli district
GDP of Azerbaijan's Nakhchivan growing
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 3,564 more COVID-19 cases, 1,004 recoveries
Russia allocates credit line for construction of Iran`s Sirik power plant - minister
National Bank of Georgia to adopt regulations for cryptocurrency trading platforms
Azerbaijan’s Nakhchivan discloses loans issued to population
Azerbaijan Entrepreneurship Development Fund to help businesses create corporate governance mechanisms
German RBC consulting company talks achievements in work on Azerbaijani market
Kazakh president calls on Nur Otan party members to focus on some priorities
Iran Oil Industry Pension Fund eyes to invest in oil and energy sectors
Uzbek UzAuto Motors to generate higher revenue in 2022
Azerbaijan’s Buta Airways becomes most active passenger carrier in Georgia
Kazakhstan-based Nostrum unveils oil production indicators for 2021
Turkmenistan assisting in delivery of Turkish humanitarian aid to Afghanistan
Azerbaijan to increase number of bus routes to Karabakh (Exclusive)
Azerbaijan discloses number of passengers of regular bus trips to liberated Shusha, Aghdam
President Ilham Aliyev congratulates president of Kazakhstan on election as chairman of Nur Otan party
Uzbekistan proposes India to develop co-op in healthcare, education and IT
Azerbaijani President Ilham Aliyev signs order on 30th anniversary of Khojaly genocide
Israel signs deal with Novavax for COVID vaccine
Azerbaijan's ANAMA builds new mobile field camp in Aghdam district (PHOTO)
TBC Capital shares data on mortgage loans issuance in Georgia
Turkmen Commodity Exchange discloses data on imports from East Asian countries
SOFAZ places €1 billion deposit with Central Bank of Turkey
Iran seeks to prevent import of luxury goods
India & 5 Central Asian Countries To Form Joint Working Group On Afghanistan
Azerbaijan's foreign trade turnover notably up in 2021
Azerbaijani deputy PM to attend opening ceremony of Olympic Winter Games in Beijing
Uzbekistan sees growth in agricultural production
India for ‘greater urgency’ in trade negotiations with EU, says EAM Jaishankar
Georgia increases textile exports to Turkey
Romanian energy minister to visit Azerbaijan
Azerbaijan records decline in foreign currency sales - chairman of CBA
Georgia’s imports of oil products from Kazakhstan plummet
Turkmenistan to increase electricity supply to Afghanistan
Central Bank of Azerbaijan names allocations made to support national currency rate in 2015
Azerbaijan to build astronomical station in Karabakh region
Use of cryptocurrency not endangering stability of Azerbaijani national currency - CBA
Central Bank of Azerbaijan plans to sign agreement with int’l consulting company
UNIDO to offer expertise for Turkmen energy sector
Central Bank of Azerbaijan names priorities for development of insurance sector
Our first president made huge contribution to strengthening of state - President Tokayev
Nur Otan party should be led by person who was nominated and supported by it in presidential election - Nazarbayev
CBA expects inflation to return to target range Azerbaijan in 2023
Devotion to interests of country has particular importance in politics - Kazakh president
Iran working on connecting of Gilan ports to national railway network
Share of electricity in Azerbaijan’s total exports down
Siraf Pars Port in Iran becomes country's major liquid gas exporter
Global food prices rise to highest level over past decade - FAO (Exclusive)
Decree regulating process of charity on part of big business to be issues in Kazakhstan
French 2021 economic growth strongest in 52 years at 7%
Kazakh-Russian copper deposit dev't project approved by Russia's Main Department of State Expertise
Azerbaijan reveals petroleum coke, oil bitumen exports
Buta Airways to resume flights to Mineralnye Vody in February
Turkmenistan sees decline in trade turnover with Azerbaijan
We'll return to issue of expediency of my further chairmanship in Nur Otan after some time - Tokayev
Representative body of Kazakhstan's Nur Otan party updated by 55%
Azerbaijan unveils volume of transactions via Apple Pay
Public councils created under Nur Otan party should become effective platform - Tokayev
Azerbaijani Central Bank not planning to create new legislative base to regulate digital banks
Central Bank discloses Azerbaijan's possible current account balance in 2022
Potential of Nur Otan party wasn't fully utilized at critical moment - Tokayev
Currency rate of Azerbaijani manat to be stable in 2022 - CBA
Military reforms, increasing of combat capability of troops to be priority in 2022 – Azerbaijan MoD
Dariga Nazarbayeva resigned from Kazakhstan Nur Otan party
Azerbaijan reveals Top 10 oil importers
Azerbaijani CBA forecasts increase in demand for foreign currency
Rothschild & Co eyes creation of special financial zones in Georgia
Azerbaijan increases share of natural gas in exports
All news