IICJ Paper Entry to the Russian Market. First Step. First Challenge Olga Kulikova, In-house Legal Counsel, Nord Imperial (ONGC group), Russia

The World Trade Organization (WTO) is an international organization based on the principles of liberalism and which its main aim is to regulate the rules of international trade. One of the general advantages of WTO membership is a more favorable access to international goods and services markets on the basis of predictable and stable development of trade relations with WTO member states, including transparency of their foreign economic policies . In December 2011 the Russian Federation became a member of the WTO after almost 20 years (1995-2011) of negotiations. Experts worldwide especially from within the Russian Federation argue about the positive and negative consequences of acceptance of the Russian Federation to the WTO, but nobody denies the fact that the Russian Federation has become an attractive market for foreign investors. One of the main aims of the government of the Russian Federation through becoming a member of WTO is to attract investors from all over the world and to increase the positive image of the country within the WTO country-members. However investors cannot forget that entry to the market can be not easy from the legal point of view and starts with the registration of a legal entity on the territory of the Russian Federation.
Author
Olga Kulikova
Olga Kulikova, In-house legal counsel (ONGC Group) is an in-house lawyer with 6 years of experience in corporate law in Oil & Gas industry, E&P and finance. She specializes in M&A, taxation and contracts. Ms. Kulikova has large experience in registration and liquidation of companies in the Russian Federation as well as in the alternative tax jurisdictions. Currently she is engaged into development of the risk mitigation policy including legal, finance and tax aspects. Ms.Kulikova has degree in law in the State University Higher School of Economics and degree in global finance in Grenoble School of Management. In 2006 she started her career as a maritime insurance lawyer and worked for the local insurance club. However in 2007 she was invited join the team of the new formed exploration company in the Northern regions of the Russian Federation and since then works in Oil & Gas industry. She joined ONGC in 2009. Being an in-house lawyer for ONGC in Russia she participated in M&A projects, business development, licensing auctions and gained experience in such spheres as tax, labour and antitrust laws. E-mail: olga.kulikova@imperialenergy.com
Company
Nord Imperial (ONGC group)
Nord Imperial LLC, ONGC Group The Company was founded by a group of Russian and foreign investors as an independent middle size oil producer in 2004. It has oilfileds in the Siberian area of the Russian Federation. The company was acquired by ONGC Videsh Limited (OVL), the overseas arm of Oil and Natural Gas Corporation (ONGC), the flagship National Oil Company of India in 2009. ONGC is the largest Indian state oil and gas corporation. The company was set up by the Indian Government on August 14, 1956. The Indian Government holds 69.17% equity stake in the Company. ONGC contributes 77% of India’s crude oil production and 81% of India’s natural gas production; it is involved in exploration and development of the fields in 26 sedimentary basins of India; it owns and operates more than 11000 kilometers of pipelines in India. Presently, it is one of the largest oil and gas companies not only in India, but in the world. As per Platts 250 Global Energy Company List for the year 2010 ONGC ranks 1st E&P Company in the world and 18th among leading global energy majors. As per Forbes Global 2000 list 2010 it occupies 155th rank. Finance Asia 100 list ranks ONGC no.1 among Indian Blue Chips. Web: www.imperialenergy.ru
Country
Russia More
Area of Law
Management More
Business Sector
Energy More
Month Published
July 2012 More
Edition
Vol. 5, No. 20, Summer 2012 More
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