ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of November 22, 2004 No. 848

About some measures for creation of conditions for development of oil and gas industry of the Kyrgyz Republic

For the purpose of ensuring accomplishment of the Development program of oil and gas industry of the Kyrgyz Republic to 2010, of the Kyrgyz Republic approved by the order of the Government of December 5, 2001 No. 763, and considering the measures for improvement of work of the company undertaken by Kyrgyzneftegaz joint-stock company, the Government of the Kyrgyz Republic decides:

1. To the state committee of the Kyrgyz Republic on management of state-owned property to conclude debt obligation with Kyrgyzneftegaz joint-stock company about debt repayment according to the dividends added on the state share fraction for 1998 - 2003 in the amount of 55648195 som after provision of the business plan and calculations of financial flows for 2004 - 2013, with the following provisions:

- to prolong repayment period of dividend arrears till September 30, 2013, without the right of further prolongation;

- establish fixed interest rate for use of means in the amount of annual interest rate 4,6;

- make payments quarterly in the last date of every quarter, according to the approved schedule;

- establish penalties for delay of payments in the amount of five annual interest rates.

2. Approve the enclosed debt repayment schedule of Kyrgyzneftegaz joint-stock company according to the dividends added on the state share fraction for 1998 - 2003.

3. Provide to Kyrgyzneftegaz joint-stock company debt repayment according to the dividends added on the state share fraction for 1998 - 2003 according to the approved schedule.

4. To impose control over the implementation of this resolution on the State committee of the Kyrgyz Republic on management of state-owned property.

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