of July 1, 1996 No. 2696
About formation of the Turkmengeologiya State corporation
For the purpose of the accelerated development of prospecting industry, complex studying of subsoil of Turkmenistan, identification and investigation of new oil fields, gas, solid minerals and lifting waters, and also I decide providing stock gain of hydrocarbonic and mineral raw material:
1. Abolish production association on exploration works Turkmengeologiya.
2. Form the Turkmengeologiya State corporation, having combined in its structure the companies and the organizations of geology, field geophysics and deep prospecting drilling entering earlier into Production association on exploration works and system of the Ministry of oil and gas of Turkmenistan.
Establish the Turkmengeologiya State corporation the status of the Ministry and grant to its Chairman the Minister's rights.
3. Determine that the Turkmengeologiya State corporation is effective as independent production and economic complex, is legal entity and in the activities submits to the President of Turkmenistan and the Cabinet of Ministers of Turkmenistan.
The companies which are part of Corporation keep economic independence.
4. Determine the main tasks of the Turkmengeologiya State corporation rational, evidence-based work by geological studying of subsoil in all territory of Turkmenistan, identification and investigation new the mineral deposit, and also accomplishment of detailed exploration works on requests and contracts of hyakimlik, the ministries and departments.
5. Determine that financing of exploration works is performed at the expense of means of the State fund of development of the oil and gas industry and mineral resources of Turkmenistan.
6. Approve organizational structure of the Turkmengeologiya State corporation according to appendix No. 1, structure of central office of Corporation according to appendix No. 2.
7. Establish the number of employees of central office of the Turkmengeologiya State corporation in number of 65 people.
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