State firms diverge on PSA role. (News).(Russian production sharing agreements)(Brief Article)(Statistical Data Included)

State-owned Rosneft last week signed a contract with the economic development ministry defining its responsibilities as a state agent in production sharing agreements (PSAs). Zarubezhneft, which had also been earmarked for the role, declined to sign on the grounds that concessions to foreign investors meant the state firms' role would be limited to "consulting and monitoring".

Sources at Rosneft indicate that they had expected more powers, saying that "state agents should have real instruments to regulate PSAs as in other countries such as Norway, Algeria and Kuwait." Both companies declined to comment officially.

Both Rosneft and Zarubezhneft had hoped to …