Turkmenistan to establish national oil and gas company
President of Turkmenistan Gurbanguly Berdimuhamadov signed a
decree, according to which it is planned to form a closed joint
stock company “Türkmen Milli nebitgaz kompaniýasy” (“Turkmen
National Oil and Gas Company” - NAPECCO “).
According to the document, this decision serves the purpose of
successful implementation of the task of finding, mining and
processing of hydrocarbon resources of Turkmenistan, as well as the
implementation of processing of their products on the domestic and
foreign markets, in accordance with the Development Program of of
the oil and gas industry of Turkmenistan for the period until
2030.
The shareholders of the new company are: State Agency for
Management and Use of Hydrocarbon Resources under the President of
Turkmenistan - the share in the authorized capital in the amount of
90 percent, “Turkmengas” State Concern – in the amount of two
percent, “Turkmennebit” (Turkmenoil) State Concern - in the amount
of two percent, the Turkmenbashi complex of oil refineries - with a
share of authorized capital in the amount of five percent.
Ministry of Economy and Development of Turkmenistan was instructed
to ensure the state registration of Closed Joint Stock Company
“Türkmen Milli nebitgaz kompaniýasy” according to established
procedure.
Main areas of NAPECCO’s activity - conducting of exploration and
drilling operations, production of oil and gas, realization of
international projects in the energy sector.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!