RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of December 18, 1998 No. 3999

About approval of the Procedure for issue of licenses for the right of carrying out oil works in the territory of Turkmenistan

Approve the issue of licenses for the right of carrying out oil works enclosed the Procedure in the territory of Turkmenistan.

Approved by the resolution of the President of Turkmenistan of December 18, 1998, No. 3999

Procedure for issue of licenses for the right of carrying out oil works in the territory of Turkmenistan

1. This Procedure is developed according to the Law of Turkmenistan "About hydrocarbonic resources" and the Regulations on Competent authority on use of hydrocarbonic resources in case of the President of Turkmenistan approved by the resolution of the President of Turkmenistan of June 6, 1997 No. 3189.

2. The license for the right of carrying out oil works in the territory of Turkmenistan is granted in shape:

licenses of the Contractor;

licenses of the Operator.

Each of these licenses has three appearance:

license for investigation;

license for production;

license for exploration and production.

3. Registration and issue of licenses are performed by Executive directorate * Competent authority on use of hydrocarbonic resources in case of the President of Turkmenistan **.

4. Licenses are drawn up in one copy on the special form of Competent authority in state language and can be translated into other languages.

In addition to the original of licenses the Competent authority provides to Contractors and Operators of the copy of licenses, certified by official stamp of Competent authority for removal from them of copies and further use.

5. The license of the Contractor is signed by the vice-chairman of Competent authority or the Chief executive of Competent authority.

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