Rules for Development of the Hydrocarbon Fields of Turkmenistan in the 'Golden Age' of Turkmen Nation

Rules for Development of the Hydrocarbon Fields of Turkmenistan in the "Golden Age" of Turkmen Nation (also known as the "Petroleum Development Rules", or "Golden Rules") were adopted on 22 October 1999, following the approval by the Decree of the President of Turkmenistan No. 4416 dated 22 October 1999. Rules are based upon the Law of Turkmenistan "On Hydrocarbon Resources" (also referred to as the "Petroleum Law of Turkmenistan"), adopted in March 1997. They succeed the Soviet-era regulations (1970 and 1984), replacing the outdated terms with actual ones based on the best global oilfield practice, at the same time modern state-wise approach to development of oil and gas fields both onshore and offshore by foreign companies and joint ventures.