The agreement between the Government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic on the basic principles of cooperation in the field of oil mechanical engineering

of June 10, 1997

The government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic which are referred to as further with the Parties

wishing to expand bilateral mutually advantageous commercial ties,

recognizing mutual interest in effective use of source of raw materials, the organization of new forms of cooperation and creating favorable conditions for enhancement of the market relations between business entities,

attaching importance to development of the oil and gas industry as one of fundamental industries of economies and realizing its value for future all region, considering that the oil mechanical engineering is mutually integrated and is base of development of oil and gas industry,

agreed as follows:

Article 1

The parties, for the purpose of preserving former bonds and their further development in the field of material logistics of oil and gas complex by products of oil mechanical engineering, will combine efforts in the organization for creation of production of the major types of oil-field and drilling equipment, creation of joint businesses of field service of wells, repair of the delivered equipment and picking by their spare parts, and also bases on sale of the oil and gas equipment.

Article 2

The parties will render every possible assistance to business entities in accomplishment of the undertaken obligations connected with execution of agreements (contracts) on deliveries of the oil and gas equipment, spare parts and materials, and also mutually deliveries of the fuel and energy resources, other goods and services connected with the main activities of the companies of oil and gas industry.

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