RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of April 9, 2014 No. 87

About measures for ensuring implementation of the investment project "Doobustroystvo of the Field Alan with Construction of DKS"

For the purpose of growth in volumes of natural gas production due to the maximum extraction of residual stocks of hydrocarbons on the field Alan decides the Cabinet of Ministers:

1. Take into consideration that:

NHK "Uzbekneftegaz" implements the investment project "Doobustroystvo of the Field Alan with Construction of DKS" with amount of development of capital investments in the amount of, equivalent 250, to 2 million US dollars, providing arrangement of 27 operational wells, construction of booster compressor station capacity of 5 billion cubic meters of natural gas in year;

within the specified investment project the competitive auction is held and delivery contracts of the capital processing equipment on the amount 75, are signed by 678 million US dollars.

2. Approve the feasibility statement on the investment project "Doobustroystvo of the Field Alan with Construction of DKS" with the key technical and economic parameters according to appendix No. 1 * and date of completion of works, with commissioning in December, 2014.

3. Determine financing sources of the "Doobustroystvo of the Field Alan with Construction of DKS" project:

own means of NHK "Uzbekneftegaz" in the amount equivalent 154, 29 million US dollars;

the credit of Fund of reconstruction and development of the Republic of Uzbekistan in the amount 53, 49 million US dollars refinanced by OAKB "Uzpromstroybank", provided in process of development within the signed contracts of detailed specifications and technical project solutions with conducting their examination in the Ministry of Foreign Economic Relations, Investments and Trades, for a period of 7 years, including grace period 2 years, with interest rate of 3,5 of annual interest rate, including margin of the refinancing 0,5 bank of annual interest rate;

the credit of the national commercial People's Bank in the amount equivalent 31, 43 million US dollars, from means of the Funded pension system for a period of 7 years, including grace period 2 years, with interest rate of 10 annual interest rates;

the credits of commercial banks, including foreign, in the amount 10, 98 million US dollars.

4. In two-month time to provide to NHK "Uzbekneftegaz" attraction of the credits of commercial banks, including foreign, and signing of the relevant loan agreements for implementation of the investment project "Doobustroystvo of the Field Alan with Construction of DKS".

5. Determine that:

borrower and the executive body responsible for implementation of the investment project and target use of borrowing facilities, is NHK "Uzbekneftegaz";

the expenses connected with repayment and servicing of the loans attracted within the investment project are performed at the expense of own means of NHK "Uzbekneftegaz".

6. Approve:

the forecast repayment schedule of the credit of Fund of reconstruction and development of the Republic of Uzbekistan in the investment project "Doobustroystvo of the Field Alan with Construction of DKS" according to appendix No. 2 *;

the design chart of repayment of principal debt and percent of the credit of the national commercial People's Bank on the investment project "Doobustroystvo of the Field Alan with Construction of DKS" according to appendix No. 3 *;

the design chart of repayment of principal debt and percent of the credits of commercial banks, including foreign, according to the investment project "Doobustroystvo of the Field Alan with Construction of DKS" according to appendix No. 4*.

* Appendix No. No. 1 - 4 are not brought.

7. To provide to the state committee of the Republic of Uzbekistan on architecture and construction in accordance with the established procedure conducting state examination of the project documentation and proper state architectural and construction supervision of quality of accomplishment of installation and construction works within implementation of the investment project "Doobustroystvo of the Field Alan with Construction of DKS".

8. To impose control of execution of this resolution on the First Deputy Prime Minister of the Republic of Uzbekistan R. S. Azimov and the deputy prime minister of the Republic of Uzbekistan G. I. Ibragimov.

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