Economics. Finances. Management
This study is focused on the current system of project management practices by the oil and gas industry companies; the key project management principles are being reviewed from the standpoint of finding effective solutions to the issues facing operating companies of the industry. The classification of the projects is presented in terms of the investment volumes that are required to implement the projects and therefore these projects are classified as low-budget, mid-budget and big-budget projects, accordingly. The paper shows oil & gas operating company’s project risk assessment methodology using qualitative and quantitative analysis methods. The specifics of risk assessment methods are presented on the basis of simulation modeling which is the most reliable and widely used process in the oil and gas industry. To factor in the risks of potential oil pipeline failures and incidents, a methodological tool has been proposed for the model that incorporates an incident response procedure which is included into the costs incurred or mitigates the integral effect by a discounted amount of expenses associated with the incident response operations throughout the life cycle of a facility. The above-named approaches are based on a step-by-step determination of the effectiveness by using the model in order to conduct the risk assessment of the projects. The principal advantages of the model include transparency of evaluations, simplicity of their understanding and assessment of the project performance by all participants. The process of project implementation incorporates multiple phases and that requires careful assessment of the economic efficiency of the projects. The effective project management system is therefore one of the factors contributing to successful implementation of the project and providing for further development of the industry as well. This study paper fully proves that it is expedient to apply these project management principles so to enable investments by the oil and gas operating companies and that includes the need in conducting project risk management.
The article reveals the effect of new oil and natural gas classification establishment, which came into force on January 1st, 2016, as well as its positive and negative aspects. The classification is adjusted to the international standards of Society of Petroleum Engineers (SPE) and the USA Security and Exchange Commission (SEC). Its basic feature is the priority of economic efficiency. The practical value lies in the provision of state interests at reserves cost evaluation, which builds the major part of national wealth, as well as in the consideration of tax incentives eligibility. Introduction of such classification should result in the increase of Russian deposits investment potential as well as in the economic efficiency of hydrocarbon reserves production under the conditions of qualitative and quantitative mineral-resource base characteristics deterioration. However, the geological (reservoir type, reserve calculation algorithm, degree of reservoir structure complexity, reserves division), technological (well spacing, oil recovery factor), organizational (computer modeling) and administrative (schedule reduction and special technical and economic features of project approval) aspects could negatively reflect on small subsurface users developing one or several small and middle-sized deposits. Considering the reviewed issues, the author suggests the additional correction of legal and regulatory framework with the aim to eliminate the abovementioned consequences and to support the financial position of small subsurface users.
The purpose of the article – state analysis, trends and prospects of development of the global hydrocarbon market. In particular, detailed analysis of the market categories such as supply and demand was made. Factors of demand for oil and natural gas, the major regions of consumption of hydrocarbons, the market structure of oil and natural gas consumption of the countries are represented. It was revealed that the growth in demand for energy resources was caused by increased motorization of individual countries (especially India and China). The major share of oil and natural gas demand at the regional level provide the Asia-Pacific region and North America, at the country level – United States (US) and China. The largest oil producer at the regional level is the Middle East, at the country level – Saudi Arabia, the United States and the Russian Federation. Saudi Arabia and the Russian Federation provide the maximum export oil supplies. The main flows of oil imports are sending to the United States, China, India and Japan. The Russian Federation leads the global natural gas market the largest proven natural gas reserves belong to Russia. The country provides the maximum export pipeline natural gas. The largest import purchases of natural gas occur in Germany, USA, Italy and Turkey. The authors calculated the figure availability of natural gas reserves of countries. Security of the Russian Federation in 2015 was 56 years. To actively growing market for liquefied natural gas is analyzed. LNG shipments rose by almost half over the past decade. The factors for expansion of markets for LNG sales are shown.
Evaluating the effectiveness of implementing a program in any of the company is the initial stage of its implementation. Therefore, for accurate results, it is important to assess the effectiveness, taking into account all the factors affecting it. In the oil and gas companies, large-scale projects, usually affecting both the internal and the external environment. Therefore, the industry is very important to carry out an accurate assessment of program effectiveness. To this end, it is important for each program to determine and take into account the existing risks in it.
In this paper we consider the program of pipeline transport of oil and oil products. Analyzing the main activities of the industry, four types of programs aggregated groups were identified that can be implemented in oil and petroleum products transportation industry. Accordingly, these programs have distinctive characteristics, which do not allow the use of any method of accounting and risk assessment. Therefore, on the basis of the existing features of the software company’s oil pipeline transport in the isolated methods of accounting and risk assessment, which are suitable for each type of consolidated programs. These methods can be used in the evaluation of the program, but with respect to the study branch these methods do not allow to allocate certain types of risks. These methods can calculate the quantitative value of the onset of the possible risk, taking into account only the general types of risk events. The individual and specific risks remain without attention and consideration.
Labour productivity is one of the most important drivers of country’s efficiency. The article deals with estimate of the Russian labour productivity progress trend in comparison with other countries. In terms of the state’s politics of National innovation system development as requirement of the country’s world competitiveness the problem of innovation management has become a very important issue. The goal of the article is definition of the most important scientific and practical issues of innovation management.
The works is concerned with analysis of the first stage results of “Russian Federation innovation development strategy on the period up to 2020” in compliance with stages of innovation process. The solvation of this problem is based on key performance indicators and basic tendencies of their changes analysis by using theretrospective analysis method. Special attention is paid to the innovation-investment strategy development process as effective innovation activity performance basis. In the development of innovation-investment strategies defined main methodological shortcomings of the existing approaches. There are: the lack of a common approach to the key concepts definition, the need to allocate system requirements and principles of strategy development, the problem of scarce investment resources allocation of enterprise.