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