Republic of Turkey, hereinafter referred to as the Parties,
Being guided by the Joint Declaration on Deepening of Friendship and Multifaceted Partnership between the Russian Federation and the Republic of Turkey of 6 December 2004 and the Joint Declaration on Progress towards a New Stage in Relations and Further Deepening of Friendship and Multifaceted Partnership between the Russian Federation and the Republic of Turkey of 13 February 2009,
Based on the Treaty on the Principles of Relations between the Russian Federation and the Republic of Turkey of 25 May 1992,
In order to enhance the efficiency of cooperation in the petroleum sector based on the Agreement between the Government of the Russian Federation and the Government of the Republic of Turkey on Russian Natural Gas Supplies to the Republic of Turkey across the Black Sea Water Area of 15 December 1997,
Agreed as follows:
Article 1
The Parties shall encourage the establishment of joint ventures between Turkish and Russian oil companies with regard to hydrocarbon exploration and exploitation in the Russian Federation, Turkey and as well as in third countries.
Article 2
The Parties shall support the deliveries of oil and oil products from the Russian Federation to the Republic of Turkey for the volumes set forth in the commercial agreements with Russian oil companies.
Article 3
The Parties express their readiness to take part in the realization of the Samsun-Ceyhan Crude Oil Pipeline Project.
For this purpose the Parties will establish a Bilateral Working Group composed of the relevant companies and organizations, and provided that it's economically feasible, Russian side as well as the other parties of the project will render appropriate support to those organizations and companies to allocate the significant and sufficient throughput and transportation capacities ensuring realization of the project.
The activity of this Working Group will also be aimed at analyzing the possibilities of constructing an Oil Refinery and organizing joint marketing of oil products including in the third countries.
Article 4
The Parties shall enhance cooperation for the establishment of joint payment systems and stock exchange technologies to be used in the marketing of oil and oil products.
Article 5
This Protocol shall not affect the rights and obligations of the State Parties arising from other international treaties to which they are Parties.
Article 6
Disputes and differences between the Parties regarding the interpretation and/or fulfilling of the provisions of the Protocol shall be settled by way of negotiations between the Parties.
Article 7
This protocol shall enter into force on the date of the receipt of the last written notification by which the Parties inform each other, through diplomatic channels, that the internal legal procedures required for the entry into force of the Protocol have been completed.
Done in Ankara this 6th day of August 2009 in two copies, each in the Russian, Turkish and English languages, all texts being equally authentic. In case controversies should arise regarding the interpretation of the provision of this Protocol, the text in English shall be used.
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