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Those unpredictable Russians: international providers of field services are wary about Russia’s market opportunities (pdf)

Source: RusEnergy

The Russian government’s determination to offer tax incentives to developers of tight reserves will encourage foreign contractors, observers believe. It remains to be seen if medium-sized payers are prepared to join their giant colleagues on this market.

Sweet promises

The Ministry of Finance presented draft amendments to the Tax Code after a year-long preparation. The amendments, if the Russian legislators pass them, will introduce reduced rates of the mineral extraction tax (MET) for hard-to-recover oil reserves from January 1, 2014.

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