The agreement between the Department of Energy, the industry and trade of the Republic of Kazakhstan and the State committee of oil, gas and oil-processing industry of Ukraine about cooperation in development of the oil and gas industry

of October 14, 1997

The Department of Energy, the industries and trade of the Republic of Kazakhstan and the State committee of oil, gas and oil-processing industry of Ukraine which are hereinafter referred to as with the Parties

being guided by the principles of equal partnership and mutual respect,

expressing the aspiration to develop bilateral mutually beneficial economic cooperation,

attaching extremely important significance to development of the oil and gas industry as one of fundamental factors of effective functioning and interaction of economies of the Parties,

realizing special role and value of this industry for future development of the countries,

considering mutual interest of the Parties in effective use and building-up of production of hydrocarbonic raw material,

in view of availability of favorable conditions for cooperation in the field of investigation, development, production, conversion, transportation, and also realization of hydrocarbonic raw material and products of their conversion,

recognizing the aspiration of the parties to develop reliable and effective ways of transportation of the hydrocarbonic raw material on the international markets,

The parties agreed as follows:

Article 1

The parties will comprehensively promote development of cooperation in the field of the oil and gas industry and the infrastructures accompanying it. At the same time the Parties will promote the conclusion and accomplishment of agreements by business entities on implementation of works, provision of services and supplies of equipment, materials, components and other products necessary for successful implementation of investigation, development, production, transportation, conversion and realization of hydrocarbonic raw material.

Amounts and conditions of implementation of works, provision of services and deliveries of goods will be determined by arrangements between business entities of the Parties.

Article 2

The parties will assist business entities of both countries in implementation of mutually advantageous joint activities in the territories in different sectors of the oil and gas industry according to the procedures determined by the legislation of the Parties.

Article 3

The parties will give full support in questions of expansion of the export potential of the Republic of Kazakhstan including transit of hydrocarbonic raw material through the territory of Ukraine. With respect thereto the parties will consider circle of questions on enhancement of gas-transport system in the nearest future.

Article 4

The parties will promote implementation of agreements in the territories for implementation of stable supply of the Kazakhstan oil and gas to Ukraine and their transit through the territories of Kazakhstan and Ukraine.

The parties will not take any actions causing damage to their interests following from this agreement purposes.

Article 5

The parties will promote participation of business entities in implementation of investment projects on investigation, development, production, conversion, transportation and realization of hydrocarbonic raw material on the conditions approved by the Parties.

Article 6

The parties will give necessary assistance and assistance in prevention and natural disaster response, accidents, other emergency situations on objects of the oil and gas industry and the infrastructures accompanying it, and also will promote implementation of necessary actions for development and program implementation of safety, environmental protection, life and human health.

Article 7

The parties will periodically hold mutual consultations with the purpose of further deepening and development of mutually advantageous bonds in the oil and gas industry, and also in questions of implementation of transition of business entities to work on international standards and rates on carrying out oil operations, including questions of sci-tech cooperation and training of specialists.

Article 8

The organization of accomplishment of the accepted this agreement, and also the problem resolution and disputes which can arise between the Parties in connection with interpretation and application of the Agreement take out the Parties on the Joint Intergovernmental Kazakhstan-Ukrainian commission on questions of economic cooperation.

Article 9

The parties, by mutual consent can make necessary changes and amendments to the present of the Agreement.

Changes and amendments are drawn up by the Protocols which are integral part of this agreement.

Article 10

This agreement becomes effective from the date of its signing.

It is made in the city of Almaty on October 14, 1997 in duplicate, everyone in the Kazakh, Ukrainian and Russian languages, and all texts are authentic.

In case of disagreements in case of interpretation of provisions of this agreement Contracting Parties will address the text stated in Russian.

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