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Production sharing agreements (PSAs)
See also Production sharing agreements (PSAs) in Russian.

Press releases

Government and Duma still don't see eye to eye on how PSAs will work
Interview with Sergei Ivanenko. Oil &Capital.Russia & CIS Energy Magazine. No 2, 2002

Progress towards introducing satisfactory production sharing legislation for Russia continues to be painfully slow, but another step along what is becoming a long road has been taken with the State Duma sending to its committees and commissions the government's controversial draft special chapter of Russia's Tax Code, regulating


Sergei Ivanenko: due to government inaction of with production-sharing agreements, the government missed out on USD 10 billion over the past five years
Press release, October 12, 2001


Parliamentary commission rates the government's performance in implementation of production-sharing agreements as poor
Press release, October 12, 2001


Sergei Ivanenko expresses concern at the attempts of the Finance Ministry to change the tax regime of PSAs

Press release

The Head of the Duma Commission for Production-Sharing Agreements (PSAs) Sergei Ivanenko and Chairman of the Duma Committee for the Budgets and Taxes Alexander Zhukov expressed their concern at the attempts of the Finance Ministry to change the tax regime of PSAs


Sergei Ivanenko to head the parliamentary commission responsible for the legal issues of production sharing agreements (PSAs)

On June 7, 2000, the State Duma approved deputy Chairman of the Yabloko faction Sergei Ivanenko as Chairman of the parliamentary commission responsible for the legal issues of subsoil usage under the terms of the production-sharing agreements.

Press release, 06.06.2000


Yukos, Sakhalin test-cases for US investment in Russia: ambassador
AFP, June 10, 2004

US investors are closely monitoring the Yukos oil case and are growing increasingly worried about Russia's commitment to private property rights, the US ambassador to Moscow said in an interview published Thursday.


Analyst: British Petroleum Might Finance Development of the Sakhalin-5 Oil and Gas Field
Rosbalt, March 4, 2004

As reported earlier by the Agency for Conflict Situations, the state oil company Rosneft and British Petroleum are preparing a new agreement on developing the Sakhalin-5 field.


Kremlin threatens to stop Shell drilling
By Nick Paton Walsh, The Guardian (UK), October 22, 2003

Shell could lose its licences to drill for oil in Russia, after an investigation by the country's ministry of natural resources - responsible for the ecology and exploitation of vast oil and gas fields - said it had reason to file a number of complaints.


Shell inks Siberia spend amid Russia oil fever
By Melanie Cheary, Reuters, September 16, 2003

Shell became one of the biggest foreign investors in Russia when it gave the green light this year for a $10 billion project on the remote eastern island of Sakhalin, where it will build the world's largest liquefied natural gas plant by 2006.


St Petersburg Company Wins Role in Sakhalin-2 Gas Project
Rosbalt, August 21, 2003

As part of the second stage of Sakhalin-2, the Sakhalin Energy Investment Co. is building Russia's first, and the world's most powerful, plant to liquefy natural gas, with an annual capacity of 9 million tons.


Russian Government Delays Investment in Arctic Oil
Rosbalt, May 20, 2003

The Russian Ministry for Natural Resources has asked the government to approve its Arctic shelf exploration programme, stating that there are several Western oil companies ready to invest.


Full-Scale Production at Sakhalin 1 and 2 Fields to Begin Simultaneously
RIA Novosti, May 17, 2003

Full-scale production of hydrocarbons under the Sakhalin 1 project will begin at the same time as under Sakhalin 2, Governor of Sakhalin Region Igor Farkhutdinov has told reporters. The Sakhalin 2 project is scheduled to reach projected capacity in 2006-2007.


Who Bashes Production Sharing and Why: PSAs Are Victims of the Competition Between the Oil Companies
By Mikhail Subbotin, RusEnergy, February 14, 2003 (Archive)

The Russian government has decided that production sharing is an exceptional scheme that should be used only for reserves in virtually inaccessible areas.


Russia Wants to Restrict Incentives to Seek Oil
By Sabrina Tavernise, The New York Times, February 20, 2003 (Archive)

The Russian government has proposed restrictions on tax-rate and regulatory guarantees used to attract foreign investment to its oil industry.


Western oil projects in Russia
Reuters, February 19, 2003 (Archive)

Following is a list of existing and planned oil and gas projects in Russia by some of the world's biggest energy firms...


Russia: Boost In Oil Production Grabs World's Attention, But Can It Be Sustained?
By Jeremy Bransten, Radio Free Europe/Radio Liberty, March 26, 2002 (Archive)

According to just-released statistics from the Paris-based International Energy Agency, Russia has overtaken Saudi Arabia as the world's number one oil producer. What is behind Russia's return to the top and is Moscow's leadership in this all-important sector sustainable?


Pravda.ru, October 29, 2001 (Archive)

A streamlined production-sharing law will skyrocket overseas investment in Russian fuel deposit development, said Glen Waller, external relations manager of the Russian Exxo Mobil office, as he was addressing a roundtable of the world Davos economic forum, which is holding session in Moscow.


Alexei Melnikov: "I would not make a rush statement that the opponents to Production sharing have won"
By Galina Bazina, Buro Pravovoi Informacii, May 5, 2003

Consequently we cannot state with conviction that the review of the amendments to the PSA Chapter of the Tax Code in the second reading which was postponed several times [by the State Duma] and is now scheduled at the first meeting after the May holidays, will take place and yield results.


Russia's Latest Oil and Gas Oasis
By James Brooke, New York Times, May 13, 2003

Aggressive investments by the world's three largest oil producers illustrate how this isolated island north of Japan has become a world hot spot for energy development. Sakhalin, roughly equal in area to Maine but with fewer than half as many residents as Maine's 1.2 million people, is on a track to surpass Moscow this year as the top destination for foreign investment in Russia.


Why U.S. Oil Companies and Russian Resources Don't Mix
By Neela Banerjee and Sabrina Tavernise
New York Times, November 24, 2002

In a little over a year, the United States has done a startling diplomatic about-face on Russia, moving it from second-rate-power status to vital ally, thanks mostly to one thing: oil.


The Tyumen Oil Company and administration of the region decide how to divide the profit from the oil extraction
Samotlor-Express, August 29, 2001
The Siberian Research Centre on behalf of the Tyumen Oil Company submitted to Tyumen administration a draft production-sharing agreement for extraction of oil in Uvatsk area. The item on the division of profit is one of the key items in the agreement. The investor gets 80% (The Tyumen Oil Company in this case), and 20% go to the federal and regional budgets, as well as the budget of Uvatsk area (the proportion in this case has still not been defined). The Economic Department of the regional administration forwarded their conclusions to the Deputy Governor Vladimir Yakushev, writes the “Tyumenskaya Liniya” information agency.


PSA will flourish if deputies convince the government that it is not right

Vladimir Sysoyev

Vremya MN, May 18, 2001

The draft law on the taxation of production-sharing agreements (PSAs) has matured in the Cabinet.


Ivanenko and Zhukov oppose the Proposal of the Finance Ministry

Vladimir Sanko

Nezavisimaya Gazeta, May 18, 2001

"The country's leadership, the President and government do not need any investments yet," said Deputy Head of the Yabloko faction and Chairman of the Commission on Legal Issues for Sub-soil Usage in Production Sharing, Sergei Ivanenko.


PSA Progress Blasted By Officials, Investors

By Lyuba Pronina, Staff Writer
The Moscow Times, Tuesday, Feb. 13, 2001. Page 10

It's been five years since Russia passed a law on production-sharing agreements - a vital provision needed to unleash foreign investment in the oil, gas and gold sectors - but since then the government's handling of the crucial issue has been atrocious.

Commodities & Agriculture: Russia tries to come to terms with West: New production sharing agreements seen as last chance to draw foreign investment to oil and gas sector, says Anna Sherman:

Financial Times, October 4, 2000

Today the European Commission is expected to discuss proposals for developing a long-term strategic energy partnership with Russia following exploratory talks about importing oil and gas.

Last month Mikhail Kasyanov, the Russian prime minister, visited London and tried to encourage Western oil and gas companies to take advantage of new production sharing agreements (PSAs)

Amended PSA Law Provides Tax Option

The Moscow Times,

By Igor Semenenko, Staff Writer

Tuesday, May 30, 2000

Three major factions in the State Duma have united efforts to pass an amendment to the law on production sharing agreements, or PSAs, giving local companies an option to choose between two tax schemes.

Project Director: Vyacheslav Erohin e-mail: admin@yabloko.ru Director: Olga Radayeva, e-mail: english@yabloko.ru

Administrator: Vlad Smirnov, e-mail: vladislav.smirnov@yabloko.ru