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The Ministry of Oil and Gas of Turkmenistan is the beneficiary of a 1996 TACIS project aimed at providing support to the government in its restructuring efforts of the oil and gas sector; this includes the establishment of a pilot database which ultimately would be able to store and interrogate data received by the oil and gas operating companies as well as a component aimed at strengthening the capability of the Ministry and the Competent Body for the Use of Hydrocarbon Resources (an inter-ministerial agency)  in project development and monitoring; the development of a training infrastructure is also included.

The new proposed project will aim at assisting in the implementation of recommendations made under the previous project, at further strengthening the ability of the Ministry of Oil and Gas to execute its supervisory role, as well as addressing some other issues vital for the further development of the oil and gas sector.

The main overall objective is thus:

·  To provide continuous assistance to the Government of Turkmenistan, and in particular its Ministry of Oil and Gas and oil and gas companies, in the promotion of an investment climate favourable to the attraction of foreign investments in the oil and gas sector.