A number of new departments have been established under the Turkmennebit (Turkmen Oil) state concern to further improve the activity of the Turkmen oil and gas complex.
Among them are the department of production sharing agreements (PSA) and department of foreign relations.
The department on the current repair and overhaul of wells, the department on innovative technologies, the department on international relations and legal department were also established in the state concern.
Turkmennebit State Concern has become an assignee according to the PSA on the Cheleken contractual territory signed with Dragon Oil company (UAE), PSA on Nebit Dag contractual territory signed with Eni company (Italy), PSA on Khazar contractual territory signed with Mitro International Limited (Austria), PSA on Block 3 contractual territory signed with Buried Hill company (UK), PSA on Block 21 contractual territory signed with ARETI company (Cyprus), PSA on Block 23 contractual territory signed with RWE Dea AG company (Germany).
The State Agency on Management and Use of Hydrocarbon Resources, which was abolished upon the president’s decree, was charged with PSA. (Trend/Business World Magazine)
