The agreement between the Government of the Russian Federation and the Government of the Republic of Latvia on joint operation of the oil and oil pipelines passing on the territory of Latvia
of June 2, 1993
The government of the Russian Federation and the Government of the Republic of Latvia which are hereinafter referred to as with the Parties
aiming to develop mutually beneficial cooperation in the field of pipeline transport of oil and oil products, agreed
as follows:
Based on the site of the Russian oil pipeline passing on the territory of Latvia Samara-Ventspils and the Latvian oil pipeline and systems of production and technological communication relating to them is created joint business (limited liability company) on operation of oil and oil pipelines (further - "joint business") according to the current legislation of the Republic of Latvia.
The authorized capital of the created joint business is formed at the expense of property and other deposits of the Parties. For determination of the sizes of deposits of the Party create joint audit commission for assessment of the property of the Parties brought in the authorized capital of joint business.
Founders of joint business are:
from the Russian Side - the State committee of the Russian Federation on management of state-owned property;
from the Latvian Side - the Ministry of Industry and Energy of the Republic of Latvia.
Conditions of activities of joint business on operation of oil and oil pipelines will be determined by supplementary special interservice agreements.
The Latvian Side guarantees that the property rights of the Russian Side following from this agreement concerning investments and property in joint business will use such legal protection which is provided with the legislation of the Republic of Latvia to the Latvian Side concerning its property in this company. This property cannot be subjected to requisition, confiscation or nationalization.
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