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Official website of the President of Russia

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Dmitry Medvedev signed Federal Law amending the laws On Subsoil Resources and On Production Sharing Agreements

May 21, 2010

The amendments concern payments for use of subsoil resources. Specifically, they abolish the payment for using geological information on subsoil resources obtained through state-sponsored geological exploration of subsoil resources. The abolition of this payment should increase the number of potential subsoil resource users taking part in subsoil-resource related tenders and auctions. It will thus have the effect of changing the makeup of participants in such tenders and auctions and will ultimately lead to a rise in the final payments for subsoil use.

The amendments aim to ensure open access to geological information, thus making such information more broadly available and facilitating rational exploitation and protection of subsoil resources.

May 21, 2010