RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of April 9, 2014 No. 86

About measures for ensuring implementation of the investment project "Doobustroystvo of the Field Shurtan with DKS-2 Construction"

For the purpose of increase in natural gas production due to the maximum extraction of residual stocks of hydrocarbons on the field Shurtan decides the Cabinet of Ministers:

1. Take into consideration that:

NHK "Uzbekneftegaz" realizes the investment project "Doobustroystvo of the Field Shurtan with DKS-2 Construction" with development of capital investments in the amount of, equivalent 309, to 5 million US dollars, providing drilling of 18 operational wells, capital repairs of 16 wells, expansion of the existing system of collection and transport of natural gas with construction of booster compressor station for preserving capacity of 9 billion CBM of natural gas in year;

within the specified investment project the competitive auction is held and delivery contracts of the capital processing equipment for total amount 177, are signed by 795 million US dollars.

2. Approve the feasibility statement on the investment project "Doobustroystvo of the Field Shurtan with DKS-2 Construction" with the key technical and economic parameters according to appendix No. 1 * and date of completion of works, with commissioning in December, 2014.

3. Determine sources of financing of the investment project "Doobustroystvo of the Field Shurtan with DKS-2 Construction":

own means of NHK "Uzbekneftegaz" in the amount equivalent 96, 57 million US dollars;

the credit of Fund of reconstruction and development of the Republic of Uzbekistan in the amount 53, 36 million US dollars refinanced by OAKB "Uzpromstroybank", provided in process of development within the signed contracts of detailed specifications and technical project solutions with conducting their examination in the Ministry of Foreign Economic Relations, Investments and Trades for a period of 7 years, including grace period 2 years, with interest rate of 3,5 of annual interest rate, including margin of the refinancing 0,5 bank of annual interest rate;

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