Rob, hello,
My two cents worth: Russia and the FSU has been a tremendously seductive region in terms of its potential since the fall of the wall, the collapse of the USSR, and Perestroika.
That's been what now, 14 years? In that time, many western companies, including mine, have formed JOV's with the various companies like Lukoil which, in a former life, were part of the Soviet bureaucracy. I myself spent 3 years there bringing in some of the first western services and rigs to the region we were concerned with.
No telling how many millions of USD have been "re-assigned" to once lowly aparachatniks who have seized opportunity in this regulatory vacuum which is the Russian commercial scene. These western companies, once gung ho, have learned the hard way just how easy it is to have your assets stripped and your ass whipped.
Yes, Russia still has tremendous potential, but until there's a bit more transparency and a lot more regulatory control, I think you'll find that the majority of western investors will shy away from this den of thieves unless they have some kind of inside path.
Like I said: JM2CW.
Best of Luck,
Aggie |
