The agreement between the Government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic on the basic principles of cooperation in the field of oil mechanical engineering

of June 10, 1997

The government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic which are referred to as further with the Parties

wishing to expand bilateral mutually advantageous commercial ties,

recognizing mutual interest in effective use of source of raw materials, the organization of new forms of cooperation and creating favorable conditions for enhancement of the market relations between business entities,

attaching importance to development of the oil and gas industry as one of fundamental industries of economies and realizing its value for future all region, considering that the oil mechanical engineering is mutually integrated and is base of development of oil and gas industry,

agreed as follows:

Article 1

The parties, for the purpose of preserving former bonds and their further development in the field of material logistics of oil and gas complex by products of oil mechanical engineering, will combine efforts in the organization for creation of production of the major types of oil-field and drilling equipment, creation of joint businesses of field service of wells, repair of the delivered equipment and picking by their spare parts, and also bases on sale of the oil and gas equipment.

Article 2

The parties will render every possible assistance to business entities in accomplishment of the undertaken obligations connected with execution of agreements (contracts) on deliveries of the oil and gas equipment, spare parts and materials, and also mutually deliveries of the fuel and energy resources, other goods and services connected with the main activities of the companies of oil and gas industry.

Article 3

The parties, for the benefit of increase in efficiency of mutually beneficial cooperation between business entities, will perform regular exchange of lists of products, developed and made, and also main types of the rendered services of oil mechanical engineering by the companies.

Payment and settlement and other financial transactions will be made according to the current legislation of the Parties.

Article 4

The parties, for the purpose of further deepening of integration bonds, developments of sci-tech cooperation and implementation of new technologies in the oil and gas industry in case of development of national energy programs will hold joint consultations.

Article 5

The parties, on the basis of single methodological approaches will take the necessary measures providing achievement of the international environmental standards in case of development, delivery and to use of the oil and gas equipment.

Article 6

The parties, for strengthening of economic interrelations will invite oil and gas companies for participation in tenders; the exhibitions, fairs held in their territories.

Article 7

Competent authorities of the Parties for accomplishment of this agreement are:

from the Azerbaijan Republic - Azerneftkhimiyamash Open joint stock company;

from the Republic of Kazakhstan - the Ministry of the industry and trade.

Article 8

All matters of argument which can arise in connection with interpretation and application of this agreement will be solved between the Parties by negotiations and consultations.

Article 9

The parties in case of mutual consent can make necessary additions and changes which are drawn up by the relevant protocols to this agreement.

Article 10

This agreement is signed for a period of five years and will be prolonged automatically for the subsequent five-year periods until one of the Parties does not notify in writing other Party at least in six months prior to the expiration of the corresponding period on the intention to stop its action.

Article 11

This agreement becomes effective from the date of the last written notice confirming accomplishment of the corresponding interstate procedures by the Parties necessary for its entry into force.

It is made in Almaty on June 10, 1997 in duplicate, everyone in the Kazakh, Azerbaijani and Russian languages, and both texts are equally authoritative. For the purpose of interpretation of provisions of this agreement the text in Russian is help.

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