Petroleum Law of 1996. Country/Territory Turkmenistan Document type Legislation Date 1996 Source FAO, FAOLEX Subject Energy, Mineral resources Keyword Concession Contract/agreement Environmental standards Oil Standards Protection of environment Exploration Authorization/permit 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 Entry into force from the date of signature. Abstract The present Law is elaborated by the President of Turkmenistan Saparmurat Turkmenbashy on the basis of the Constitution of Turkmenistan, taking into consideration the national interests of Turkmenistan and its people, directed towards securing rational and effective exploitation of the petroleum resources and the protection of the natural wealth of Turkmenistan for future generations. The document consists of 11 Chapters that contain 61 Articles. Chapter 1 (arts. 1-2) lays down general provisions. Chapter 2 (Arts.4-6) establishes the competence of the Cabinet of Ministers (the Government) of Turkmenistan, the Competent Body and the Concern in the sphere of exploitation of petroleum resources. Chapter 3 (Arts.7-22) deals with licensing of petroleum operations. Chapter 4 (Arts.23-27) regards contracts. Chapter 5 (Arts.28-35) concerns conduct of petroleum operations. Chapter 6 (Arts.36-37) establishes rights and obligations of a contractor. Chapter 7 (Arts.38-42) deals with main pipeline. Chapter 8 (Articles 43-45) deals with natural environment protection. Chapter 9 (Arts.46-49) regards taxes and payments. Chapter 10 (Arts.50-59) deals with legal terms. Chapter 11 (Arts.60-61) lays down final provisions. Full text English