24 September 1998

Russia's petroleum resources should form the basis of its long-term economic growth and development, but the necessary foreign investment will not be forthcoming unless a suitable legal and regulatory framework is in place.

The aim of the two weeks of seminars is to provide a forum for the discussion of the key issues in attracting foreign investment in the petroleum sector whilst at the same time protecting legitimate domestic interests in Russia. The seminars will be attended by up to fifteen Russian officials from both Moscow and the regions. The delegation is expected to include the Deputy Minister of Natural Resources and the Deputy Minister of Finance.

The Russian team arrived in Scotland on 20th September. The first week is being spent in Aberdeen where their hosts are the Aberdeen University Petroleum Economic Consultants (AUPEC) under the leadership of Professor Alexander Kemp. They will address the economic and fiscal aspects of petroleum production sharing agreements.

The following week they will be at the Centre for Energy, Petroleum and Mineral Law and Policy (CEPMLP) at the University of Dundee. There Professor Thomas Waelde will lead a seminar on the legal and regulatory aspects of petroleum production sharing arrangements.

Contact Jacquie Hay 01382 345870

Philip Andrews-Speed
Assistant Director
Training and China Programme
Centre for Energy, Petroleum and Mineral Law and Policy
University of Dundee
Dundee DD1 4HN
Scotland, UK
Phone: 44-1382-345178
Fax: 44-1382-322578

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