CEU Electronic Theses and Dissertations, 2011
| Author | Sulaimanov, Ruslan |
|---|---|
| Title | BALANCING STATE AND INVESTOR INTERESTS IN INTERNATIONAL PETROLEUM CONTRACTS: COMPARISON OF LEGISLATIONS IN KAZAKHSTAN AND OTHER CENTRAL ASIAN COUNTRIES |
| Summary | This thesis research addresses the topic of a contractual balance between host state and foreign investor interests, which is highly desired for a mutually beneficial development of an international petroleum production project. While identifying the notion, types and ways for investments into such projects, this work enumerates and explains the respective interests of the parties. Moreover, this study systematically examines the structure of a basic petroleum agreement and its specific provisions used to protect the balance of interests. It also evaluates the fundamental legal differences of the classical international petroleum contract models. By comparing subsoil and investment legislations in all five countries of the Central Asian region, with separate attention devoted to Kazakhstan, this thesis research elucidates legal investment climates created by these recipient countries for foreign investors wishing to inject funds in their petroleum production industries. The findings of the current work have shown that Kazakhstan, being a leader in the region’s oil industry, has recently enacted new normative legal acts in the spheres of foreign investment and subsoil use, thus, transforming its previously favorable legal conditions into more onerous ones. Turkmenistan and Uzbekistan at first used a strategy of self-sufficiency for developing their petroleum sectors, but after admitting that their plans have not produced the desired economic outcome, they have started experimenting with the new legislative practices. Although suffering from the lack of hydrocarbon reserves, Kyrgyzstan and Tajikistan also began to bring novelties in their legislation to encourage inward investments in their mining industries. Despite the juridical innovations the legal frameworks of all five countries still seem to be unstable, incomplete and sometimes even contradictory, thus, putting in danger the fragile balance between host state and foreign investor interests. |
| Supervisor | Professor Stefan Messmann |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2011/sulaimanov_ruslan.pdf |
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