LAW OF TURKMENISTAN

of October 1, 2011 No. 238-IV

About introduction of amendments to the Law of Turkmenistan "About hydrocarbonic resources"

I. Bring in the Law of Turkmenistan "About hydrocarbonic resources", adopted by Majlis of Turkmenistan on August 20, 2008 (Sheets of Majlis of Turkmenistan, 2008, No. 3, Art. 40; 2010, No. 1, Art. 20; 2011, No. 3, Art. 61), following changes:

1. To state item 4 of part one of Article 44 in the following edition:

"4) carrying out explosive works on the land, in the thickness of water and on seabed, and also import, acquisition and use of explosives and materials for such works without the permission of the relevant authorized state bodies.".

2. The fourth Article 47 to state part in the following edition:

"4. The procedure for customs clearance of import by the Contractor to Turkmenistan of goods, materials and the equipment for production of oil works, export from Turkmenistan of the specified goods, materials and the equipment, and also amounts of the hydrocarbonic resources which are due to the Contractor is determined by acts of the President of Turkmenistan or the Cabinet of Ministers (Government) of Turkmenistan.

Restrictions can be set by acts of the President of Turkmenistan or will lock concerning import, acquisition and use of explosive materials and substances, the radioactive and chemical materials used by the Contractor when implementing oil works".

II. This Law becomes effective from the date of its official publication.

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