Would Russian oil companies really like to have a PSA regime in Russia?

The establishment of the Russian state system in the early 1990s and its transition to the new circumstance of running the economy on market principles required the formation of laws to regulate subsurface usage issues in the Russian Federation.At the time, the unsettled situation surrounding subsurface usage issues during the transition from free usage to paid usage was accompanied by a severe shortfall in financial resources of the domestic producing companies—brought about by the state's refusal to fund the fuel and energy complex companies during privatization. Click here to enlarge imageThis in turn necessitated the search for new mechanisms to attract investments—th...

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