This Act provides for principles and procedures for the sustainable and efficient exploration, production and improvement of petroleum resources of the Republic of Turkey. The Act sets forth principles and procedures for controls and inspection of exploration and production phases. It further sets out provisions regarding the promotion of petrol production and procedures of placing on the market of oil, its import and export and taxation. It consists of 12 Chapters: Purpose and definitions (I); Open Fields and Research Permits (II); Exploration Licenses, Applications and Registration (III); Surface and Water Rights and Shares of the State(IV); Abolition of Fields and Transfer of the Facilities (V); Taxation, Imports and Exports and Transfers (VI); Foreign Staff Operation, Force Majeure and Permits to be taken from other Institutions (VII); Audit, Appeals and Petitioning (VIII); Registration and Notification (IX); Prohibitions, Special Provisions, Administrative Fines (X); Miscellaneous (XII); Transitional and Final Provisions (XII).
Türkiye · 2013-05-30