Framing perceptions: consideration of a new law involving Russia's protection of its greatest-potential assets has piqued the interest of Russian E&P investors.(THE RUSSIAN ENERGY SECTOR: LEGAL ISSUES)(energy and petroleum)

Publication: Oil and Gas Investor

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Four years ago, the debate about the legal system framing E&P activities was centered on production-sharing agreement (PSA) laws. Some leading voices, including jailed Yukos chairman Mikhail Khodorkhovsky, deemed the law detrimental to the nation's interests and too favorable to foreign companies.

The law was scrapped, triggering the ire of foreign investors, and only the agreements signed between the state and the foreign majors involved in the Sakhalin 1 and 2 and Kharyaga projects were "grandfathered."

Today, there are rumors of the possible revival of PSA legislation to facilitate the development of the next generation of mega-projects on the Arctic shelf and elsewhere, but...

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