Natural gas favours regime, not national interest
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Total Resolves Tax Dispute Over Kharyaga PSC
From Total : Wednesday, December 07, 2005 : Total reports the resolution, out of court and as a result of constructive negotiations with representatives of the Russian Federal Government and Administration of the Nenets Autonomous Region, of all issues in regards to the Kharyaga Production Sharing Contract which were the subject of an international arbitration in Stockholm.
Sources:
Within this framework the Production Sharing Agreement Joint Committee,
the managing body of the Kharyaga project consisting of representatives
of the Federal
Government, Nenets Autonomous Region Administration and partnered
companies approved the relevant past annual work programs as well as
past budgets and past cost recovery. As a result, the Russian Tax
Authorities have revoked their tax claims.
Total is the operator of the field with a 50% participating interest
along side Norsk Hydro also with a 40% interest, and the Nenets Oil
Company with a 10% interest.