Turkmenistan abolishes licensing agency

Turkmenistan has suspended the work of its oil and gas licensing agency and divided the functions between the national oil and gas companies.

President Gurbanguly Berdimuhamedov issued a decree abolishing the State Agency on Management and Use of Hydrocarbon Resources.

The state companies Turkmengas and Turkmennebit will succeed the former agency in existing production sharing agreements with non-Turkmen companies.