The Need for and Future of Production Sharing Legislation in Ukraine
Article from: OGEL 3 (2004), in Production Sharing Contracts
Introduction
To date, investment in Ukraine's oil and gas sector has been fairly limited. This situation can only partially be explained by the existence of more attractive energy resources to develop elsewhere in the region (such as in Azerbaijan, Kazakhstan, and Russia). Certain Ukrainian legislators and government officials have recognised that the absence of a stable legal and tax regime has discouraged investment in the country's energy sector. In late 1997, the Ukrainian Cabinet of Ministers introduced a draft Law of Ukraine on Production Sharing Agreements ('PSA Law') to the ...