international magazine
05 / 2003

Pulling Chestnuts Out...

The history of foreign investment in the CIS oil and gas projects saw a number of mega deals, with hundreds of millions and even billions tones of crude and billions dollars at stake. Foreign companies had been coming to Russia, Kazakhstan and Azerbaijan with full pockets of cash. Still, it would be unfair to say, that only large investors have their chance to make profit in the countries of the former Soviet Union. The story of Canadian-Ukrainian joint venture Kashtan Petroleum ltd is an illustration of how much commitment and tenacity of a foreign investor results in sustainable growth and still requires a lot of patience to survive on the market.