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Law No. 208-III “On hydrocarbons”.

Country/Territory
Turkmenistan
Document type
Legislation
Date
2008
Source
FAO, FAOLEX
Subject
Mineral resources
Keyword
Oil Exploration Mining Authorization/permit Contract/agreement Royalties/fees
Geographical area
Asia, Caspian Sea, Central Asia, CIS (Commonwealth of Independent States), Europe and Central Asia, Landlocked Developing Nations, North Asia
Entry into force notes
This Law enters into force on the date of its official publication.
Abstract

This Law establishes legal basis for the relations originating from the process of exploration, mining, extraction of hydrocarbons and other oil works, and is aimed at ensuring rational management of hydrocarbons. Agency on Hydrocarbons shall be the authorized state institution in the sphere of management and utilization of hydrocarbon resources (Art. 4). The following activities shall be subject to compulsory licensing: (a) exploration – period of validity 6 years; (b) mining – period of validity 20 years; and (c) combined exploration and mining – for the period comprehending period of validity of exploration licence and the period of validity of mining licence, including possible renewal periods (Art. 9). Any oil works shall be regulated by the following types of contracts or agreements: (a) product-sharing agreement; (b) concession contract on condition of royalty and tax; (c) joint-venture agreement; and (d) risk service contract (Art. 21). The Act consists of 11 Sections divided into 64 articles: (1) general provisions; (2) competence of the Cabinet of Ministers; (3) licensing; (4) contracts; (5) oil exploration and extraction; (6) rights, duties and liability of contractor and operator; (7) pipelines; (8) environmental protection, ensuring safety of the population and protection of public health; (9) financing and taxation; (10) legal terms and conditions; and (11) conclusive provisions. Ensuring environmental protection arrangements, safety of the population and the protection of public health shall be mandatory for contractor (Art. 42).

Full text
Russian
Website
www.turkmenistan.gov.tm

References - Legislation

Repeals

Law on hydro-carbon resources (1996).

Legislation | Turkmenistan | 1996

Keyword: Oil, Natural gas, Contract/agreement, Exploration, Mining, Authorization/permit

Source: FAO, FAOLEX

Law amending Law on hydro-carbon resources (1996).

Legislation | Turkmenistan | 2005

Keyword: Institution, Contract/agreement

Source: FAO, FAOLEX

Amended by

Law amending Law No. 208-III “On hydrocarbons”.

Legislation | Turkmenistan | 2011

Keyword: Royalties/fees

Source: FAO, FAOLEX

Law amending Law No. 208-III “On hydrocarbons”.

Legislation | Turkmenistan | 2016

Keyword: Business/industry/corporations, Oil, Contract/agreement

Source: FAO, FAOLEX