Ashgabat, Turkmenistan, Sept. 20
By Huseyn Hasanov – Trend:
A number of changes and additions have been introduced to Turkmenistan’s “Law on Hydrocarbon Resources”, according to which the Turkmengas and the Turkmennebit state concerns were entrusted to manage and use the country’s hydrocarbon resources, according to the Turkmen national media outlets.
In July 2016, the State Agency on Management and Use of Hydrocarbon Resources stopped its activity according to President Gurbanguly Berdimuhamedov’s decree.
Turkmengas State Concern has become an assignee under a production sharing agreement (PSA) on the Bagtyyarlyk contractual area signed with China National Petroleum Corporation (CNPC) and the PSA on Block 1 contractual area signed with Malaysian company Petronas.
Turkmennebit State Concern has become an assignee under the PSA on the Cheleken contractual area signed with the UAE’s Dragon Oil, the PSA on Nebit Dag contractual area signed with Italy’s Eni, and the PSA on Khazar contractual area signed with Austria’s Mitro International Limited.
Turkmennebit State Concern has also become an assignee under the PSA on Block 3 contractual area signed with the UK’s Buried Hill, the PSA on Block 21 contractual area signed with Cyprus’ ARETI, and the PSA on Block 23 contractual area signed with Germany’s RWE Dea AG.