FSO Safer MEMORANDUM OF UNDERSTANDING

MEMORANDUM OF UNDER5TANDNG

PARTIES: THE UNITED NATIONS, ABDULLAH MOHAMED FAHEM & CO and THE

SUPERVISOY COMMITTEE FOR THE MPLEMENTATON OF THE URGENT

MAINTENANCE AGREEMENT AND THE COMPREHENSNVE EVALUATION OF THE

SAFER FLOATING TANK

In view of the serious threat FSO Safer poses and the wide and multiple risks, the parties signing below

have taken the initiative to discuss this issue and given the commitment of the United Nations to make

all efforts to mobilize the necessary funds and the necessary work for addressing FSO Safer situation,

and with success of such efforts, the United Nations represented by the Resident Coordinator, the

undersigned parties have agreed on the following:

      1. The United Nations is committed to providing and supplying a replacement equivalent to the

           FSO Safer suitable for export with a target of eighteen months.

      2. All signatory parties acknowledge that the authorities in Sana'a bear no financial obligations.

     3. The authorities in Sana'a are committed to providing all facilities for the success of the project.

     4. The undersigned parties understand that provision of atemporary tanker to transport the cargo

           from the FSO SAFER to atemporary vessel may be required. The United Nations will provide this

           temporary vessel and it willremain near to the FSO Safer, taking into consideration the technical

           aspects in determining the location until item number one (1) is fulfilled. The UN will prepare

           an operational plan that is in line with this memorandum of understanding.

          Dated 5 March 2022,