RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of December 19, 1998 No. 4001

About approval of the Provision o Management committees contractual territories

For the purpose of further forming of the effective principles of functioning of Management committees the contractual territories created under the terms of the production sharing agreements signed according to the Law of Turkmenistan "About hydrocarbonic resources" and the resolution of the President of Turkmenistan of June 6, 1997 No. 3189 "About measures for implementation of the Law of Turkmenistan "About hydrocarbonic resources" I decide:

Approve the enclosed Regulations on Management committees by the contractual territories.

Approved by the resolution of the President of Turkmenistan of December 19, 1998 No. 4004

Regulations on Management committees contractual territories

1. This Provision is developed according to the Law of Turkmenistan "About hydrocarbonic resources" and the resolution of the President of Turkmenistan of June 6, 1997 No. 3189 "About measures for implementation of the Law of Turkmenistan "About hydrocarbonic resources".

2. Management committees contractual to the territories (Committees are referred to as) in the activities are guided by the production sharing agreements signed between Competent authority on use of hydrocarbonic resources in case of the President of Turkmenistan (the Competent authority is referred to as) and the Contractor, the Law of Turkmenistan "About hydrocarbonic resources", and also other regulatory legal acts of Turkmenistan and rules of international treaties.

3. Committees are the consultative and managerial structures created under each production sharing agreement.

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