RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS

of January 16, 2009 No. 46

About procedure for determination of the size of the state monetary reward for discovery of the field

Based on part three of Item 7 of article 53 of the Code of the Republic of Belarus about subsoil the Council of Ministers of the Republic of Belarus DECIDES:

1. Approve Regulations on procedure for determination of the size of the state monetary reward for discovery of the field it (is applied).

2. This resolution becomes effective since January 1, 2009.

Approved by the Resolution of Council of Ministers of the Republic of Belarus of January 16, 2009 No. 46

Regulations on procedure for determination of the size of the state monetary reward for discovery of the field

1. This Provision establishes procedure for determination by the Commission on assignment of the status of pioneers of fields and to the state monetary rewards for discovery of the fields under the Ministry of Natural Resources and Environmental Protection (daleekomissiya) of the size of the state monetary reward for discovery of the field (further - the state monetary reward).

2. The size of the state monetary reward is established depending on the industrial value of the field and type of mineral taking into account profit which can be received as a result of development of the revealed inventories of solid minerals, underground waters, oil, gas condensate and natural gas, geothermal resources of subsoil (except for petrogeotermalny resources) (further – expected profit). The size of expected profit is determined by data of carrying out geological and economic and cost assessment of the field based on results of state examination of geological information.

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