Memorandum of Understanding between the Republic of Turkey and the Republic of Guinea on cooperation in the fields of hydrocarbon and mining.

By the Decree No. 2017/9810 of the Council of Ministers of 23 January 2017, the Memorandum of Understanding between the Republic of Turkey and the Republic of Guinea on cooperation in the fields of hydrocarbon and mining has been approved. The Parties agree upon cooperation on (i) development and promotion of oil and gas exploration and exploitation, (ii) storage, marketing, transport and distribution of oil derivatives, (iii) construction and maintenance of oil infrastructure, (iv) construction and maintenance of gas infrastructure and application of gas technology, (v) geological mapping and minerals evaluation and (vi) developing seismic and other geophysical methods for mineral exploration purposes. The Parties shall develop cooperation by exchange of information and experience, reciprocal visits of experts, as well as by developing joint projects. The Parties may organize training programs, workshops, conferences, exhibitions, seminars and meetings. A Hydrocarbon and Mining Working Group shall be established. This MoU may be amended by mutual written consent. The dispute may be solved through consultations and negotiations. This MoU shall be valid for five years and is automatically renewable with termination rights requiring thirty days written notice.