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Ramazan Abdulatipov signs a decree on foundation of Daghestan state oil and gas company, OJSC

28 March 2014 19:20 Posted in:  BUSINESS
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Makhachkala, March 28, 2014. Daghestani Head Ramazan Abdulatipov signed a decree on foundation of Daghestan State Oil and Gas Company, OJSC, the press service of Daghestani Head and the Government reports.

The Open Joint Stock Company has been established in order to accelerate socio-economic development of Daghestan and to improve the economic efficiency of the oil and gas complex. According to the decree, in the period up to April 15 2014, the Government of the Republic of Daghestan is expected to take urgent measures to prepare basic documents describing the order of formation of authorized capital. Based on this document, the share of Daghestan in the authorized capital of the company will be set.  The contribution of the republic to the authorized capital of the OJSC will make approximately 10 million rubles.

The main objectives for the creation of new company are to attract investments to the exploration, production and sale of oil and gas products in the republic.


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