Creating a Comprehensive & Investor-Friendly PSA Regime: Where does Russia Keep Going Wrong?
Article from: OGEL 1 (2005), in Production Sharing Contracts
The history of PSAs in Russia has been a tortuous affair especially for investors who have been there since the early 1990s. Despite having a PSA Law - which has been heavily and repeatedly amended - in place since 1995, for the most part, Russia has failed to crystallise industry interest into actual investments and, to date, only 3 'grand-fathered' PSAs are in operation. Divided into 2 parts, this thesis aims to establish why this situation exists. A fusion of empirical studies, systematic review, data presentation and critical analysis, this thesis concludes that despite ...