Law on Hydrocarbon Resources (Turkmenistan)

This document is part of the source library for NRGI's 2017 Resource Governance Index, a comprehensive measure of the quality of natural resource governance in oil, gas and mineral-rich countries. To access the full dataset and all other index resources, visit https://resourcegovernanceindex.org.

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Additional Info

Field Value
Sector Oil and Gas
Country Turkmenistan
Year 2008
RGI Edition Year 2017
Topic Beneficial ownership, Commodity prices, Contract transparency and monitoring, Legislation and regulation, Licensing and negotiation, Mandatory payment disclosure, Measurement of environmental and social impacts, Open data, Revenue management, Revenue sharing, Sovereign wealth funds, State-owned enterprises, Subnational governance, Tax policy and revenue collection
Document Type Statute
RGI Sub-component Licensing
RGI Questions 1.1a: How does the country legally define the ownership of subsoil extractive resources?,
1.1.1a: Does the government publicly disclose data on extractive resource reserves?,
1.2.1a: Does the government publicly disclose data on the volume of extractive resource production?,
1.2.2a: Does the government publicly disclose data on the value of extractive resource exports?,
2.1.1a: Does the government have an online data portal containing publicly available data on reserves, production and exports?,
1.1.9a: Is the government required to publicly disclose all signed licenses/contracts with extractive companies?,
1.1.10b: Has the government publicly disclosed all active licenses/contracts, regardless of when they were signed?,
1.1.7a: Are senior public officials required to publicly disclose their financial holdings in extractive companies?,
1.1.7b: Do rules require public disclosure of beneficial owners of extractive companies?,
1.1.8b: From 2015 onwards, have the beneficial owners of extractive companies been disclosed?,
1.1b: Who is the licensing authority (i.e. who has the authority to grant exploration and extraction rights to companies)?,
1.1.3d: Is the licensing authority independent from the SOE?,
1.1c: What licensing process does the licensing authority follow?,
1.1.3b: Prior to each licensing process, is the licensing authority required to disclose a list of biddable terms or negotiable terms?,
1.1.5d: Are there rules that companies can follow to appeal licensing decisions?,
1.1.10d: Is the legislature required to ratify licenses/contracts?,
1.1.2b: Is the publicly available registry of licenses/contracts available online, offline or in paper?,
1.2a: What is the fiscal system for extractive resources?,
1.2.5c: Do rules specify the level of state equity (or options for state equity such as carried interest) in extractive companies ?,
1.2.6a: Is the government required to make all payments to the national treasury or deposit them into a national resource account, aside from amounts legally retained by SOEs?,
1.2.6b: Is the national tax authority required to audit extractive companies?,
1.3.1b: Is there a requirement for the EIA and/or SIA to be publicly disclosed?,
1.3.3b: Is there a requirement for environmental mitigation management plans to be publicly disclosed?,
1.3.6a: From 2015 onwards, have the procedures governing rehabilitation and closure of extractive projects been adhered to?,
1.4.3a: Is the SOE required to publicly disclose annual reports containing information on its finances and operations?,
1.4.7a: Are there rules that govern how the SOE should select the buyers of its production?,
1.4.7b: Are there rules that determine the prices at which the SOE should sell its production?,
1.4.7c: Are there rules that govern how the proceeds from the sale of the SOE's production should be transferred to the government?,
1.4.7d: Are there rules that require the SOE or government to publicly disclose information on the sale of production by the SOE?,
1.4.10b: Is the majority of the SOE's board of directors independent of the government (i.e. at least half of all board members do not hold positions in the current central government)?,
2.1.2a: Does the country have a numerical fiscal rule?,
2.2a: Does the central government transfer extractive resource revenues to subnational governments?,
2.2b: Are there specific rules governing the transfer of extractive resource revenues (i.e. are these rules distinct from those governing other types of transfers)?,
2.2c: Do rules specify that subnational governments of producing areas should receive a higher share of extractive resource revenues than those of non-producing areas?,
2.3a: Does the country have a natural resource fund which is funded by extractive resource revenues?
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Are the RGI questions here tagged with law and/or practice Law and
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Publisher Turkmenistan.ru Website
Author
Source or API link http://www.turkmenistan.ru/_data/documents/oilgaslaw-20_08_08.doc
Maintainer Natural Resource Governance Institute
Maintainer Email Natural Resource Governance Institute