of July 21, 2020 No. 448
About implementation of the mechanism of hydrocarbon production on the basis of contracts with retained risks
In pursuance of the resolution of the President of the Republic of Uzbekistan of July 9, 2019 No. PP-4388 "About measures for stable providing economy and the population with energy resources, financial improvement and enhancement of management system with oil and gas industry", for the purpose of implementation of measures for stable providing economy and the population with energy resources by hydrocarbon production growth in volumes from fields with hardly removable and small inventories the Cabinet of Ministers decides:
1. Take into consideration that according to the international practice in oil-and-gas sector hydrocarbon production on fields with hardly removable or small inventories and high cost of mining works is performed on the basis of contracts with retained risks between subsoil users and the companies specializing, as a rule, in rendering services in the field of hydrocarbon production (further - the contractor).
2. Determine that:
the hydrocarbon production mechanism on the basis of contracts with retained risks provided by this resolution extends to the state companies and legal entities from shares of the state in authorized fund (capital) in the amount of 50 and more percent, and also legal entities, in authorized fund (capital) of which of 50 and more percent also more percent belong to the legal entity from shares of the state 50 (further - the subsoil user);
the list of fields on which increase in hydrocarbon production with involvement of contractors on the basis of contracts with retained risks is provided (further - the contract), on regular basis is created by the Department of Energy of the Republic of Uzbekistan according to proposals of subsoil users and approved with the Cabinet of Ministers of the Republic of Uzbekistan;
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