Sakhalin II PSA success attests to local leaders' commitment

There is growing evidence that the key to a successful joint venture or production-sharing agreement in Russia may lie not in Moscow but with committed and progressive-thinking regional leaders.The successful implementation of the Sakhalin II PSA, promoted by Sakhalin Gov. Igor Farkhutdinov, shows how a succession of regional administrators can produce positive results.According to Dave Golder, vice-president of international production for Marathon Oil Co., and former executive vice-president, upstream, with Sakhalin Energy, the governor pragmatically adopted the PSA concept as an economic engine for reversing the Sakhalinskaya Oblast's declining economy, "while creating jobs and rev...

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