UDC

Authors

Abstract

Hydrocarbon potential of the continental shelf plays an important role in the global economy. With the depletion of easily accessible offshore fields, the prospects of oil exploration and development in the Arctic seas are rising in importance. Development of the Arctic opens up opportunities for the future of oil and gas industry, while at the same time being associated with high risk due to the huge cost of operations and necessary facilities, harsh weather conditions, challenges with logistics and transportation of production and supply, as well as strict environmental safety requirements. Efficiency of offshore development depends on how well it corresponds to the geology of oil-bearing structures and peculiarities of productive strata. Another important parameter is the operating modes of exploitation. Thus, new and upgraded techniques for project evaluation and economic calculation are required for offshore oil-bearing structures as there is currently no statistics on their development. Calculating the total project budget of oil field development and evaluating all possible deviations from the target figures is a difficult task. It is therefore extremely important to determine methodological solutions for a regular assessment of possible deviations of the current budget from the target figures. The solutions should be consistent and take into account all possible deviations both in terms of individual decisions and changes in the process of oil field (group of fields) development as a whole. The paper presents the results of the study of economic mechanisms used in offshore oil field development in the Arctic as well as an economic evaluation of certain types of oil development projects.

Keywords

References

1. Vin’kov A.V, Imamutdinov I.I., Medovnikov D.I., et al. Rossiya v energeticheskoy sfere [Russia in the Energy Sector]. Moscow, 2006. 78 p.
   
2. Gubaydullin M.G., Dundin N.I. Vvedenie v spetsial’nost’. Neftegazovoe delo [Introduction to Specialty. Oil and Gas Engineering]. Arkhangelsk, 2006. 212 p.
   
3. Johnston D. International Petroleum Fiscal Systems and Production Sharing Contracts. 1994 (Russ. ed.: Dzhonston D. Mezhdunarodnyy neftyanoy biznes: nalogovye sistemy i soglasheniya o razdele produktsii. Moscow, 2000. 352 p.).
   
4. Kadzhoyan Yu.S., Gubadullin M.G. Kontseptsiya ranney dobychi nefti na Severe Timano-Pechorskoy neftegazonosnoy provintsii [The Concept of Early Oil Production in the North of the Timan-Pechora Oil-and-Gas Province]. Osvoenie shel’fa Arkticheskikh morey Rossii: tez. dokl. 3-y mezhdunar. konf. [Shelf Development in the Russian Arctic Seas: Proc. 3rd Int. Conf.]. St. Petersburg, 23–26 September 1997. St. Petersburg, 1997, pp. 32–33.
   
5. Malovetskiy A.V. Neftyanye korporatsii v regione [Oil Companies in the Region]. Moscow, 2001. 284 p.
   
6. Rekomendatsii parlamentskikh slushaniy “Neft’ i gaz kontinental’nogo shel’fa: problemy osvoeniya i ratsional’nogo ispol’zovaniya” [Recommendations of the Parliament Hearings “Oil and Gas of the Continental Shelf: Problems of Development and Rational Use”]. Neftegazovaya vertikal’, 2002, no. 9–10, pp. 74–75.
   
7. 7. Toskunina V.E. Problemy i perspektivy osvoeniya neftegazovykh resursov na Severo-Zapade Rossii [Problems and Prospects of Oil аnd Gas Exploration in the North-West of Russia]. Yekaterinburg, 2007. 228 p.
   
8. 8. Shafrannik Yu. Neftegazovyy sektor Rossii [Oil and Gas Sector of Russia]. Moscow, 2006. 160 p.