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.

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