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RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of July 1, 1996 No. 2696

About formation of the Turkmengeologiya State corporation

(as of May 1, 2003)

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 materials:

1. Abolish production association on exploration works Turkmengeologiya.

2. Form the Turkmengeologiya State corporation, having united 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.

Financing of central office of the Turkmengeologiya State corporation is performed at the expense of means of the Government budget of Turkmenistan.

8. Permit the Chairman of the Turkmengeologiya State corporation to have three deputies.

9. Determine the location of the Turkmengeologiya State corporation Ashgabat.

10. The Turkmengeologiya state corporation together with the Ministry of Economics and finance of Turkmenistan in 2-month time to prepare and provide for consideration in the Cabinet of Ministers of Turkmenistan projects of Regulations on Corporation and about procedure for forming and expenditure of funds on financing of exploration works from the special account of the State fund of development of the oil and gas industry and mineral resources of Turkmenistan.

11. Declare invalid the resolution of the President of Turkmenistan of June 28, 1993 No. 1388 "About questions of Production association on exploration works Turkmengeologiya.

 

President of Turkmenistan

Saparmurat Turkmenbashi

Appendix No. 1

to the resolution of the President of Turkmenistan of July 1, 1996 No. 2696

Organizational structure of the Turkmengeologiya State corporation

Kugitangsky prospecting expedition

Turkmen prospecting expedition

Predkopetdagsky hydrogeological expedition

Bayramalyysky hydrogeological expedition

Southern Aral hydrogeological expedition

Caspian hydrogeological expedition

Akhalsky geophysical expedition

Maryysky geophysical expedition

Lebapsky geophysical expedition

Ashgabat methodical expedition

Nebitdagsky oil and gas prospecting expedition

Turkmen research prospecting institute

Central Department of Working Supply laboratory

Base of technological servicing and picking

Turkmennebitgazgezleyish trust

 

Appendix No. 2

to the resolution of the President of Turkmenistan of July 1, 1996 No. 2696

Structure of central office of the Turkmengeologiya State corporation

Management and chief specialists

Geological department of oil and gas

Geological department

Geological department of solid minerals

Hydrogeological department

Technological department

Department of geological funds

Construction department and social development

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