Problems of Economics and Management of Oil and Gas Complex

The purpose of the article is a theoretical substantiation of the possibility of reaching of maximum possible public efficiencies of government expenditures, investments and taxes in the perfect condition of coordinated open economic system. In the ideal case ("zero-loss" of public efficiency of government expenditure and investments) the proposed model can always bring maximum possible rate of economic growth that allows substantiating the main directions of the relevant macroeconomic (fiscal, tax and budget) policy.

Key words: efficiency; macroeconomic; quality; policy; taxes.

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UDC 338.45.01

RESOURCE POTENTIAL AS THE FACTOR

OF THE REGION COMPETITIVE STRATEGY (p. 14)

Lalita Musaevna Idigova,

Diana Viskhanovna Mezhidova

Chechen State Pedagogical Institute

33, Kievskaya str., 364051, Grozny, the Chechen Republic, Russian Federation,

phone/fax: 8 (8712) 33-24-03,

e-mail: L.idigova@mail.ru

Madina Albekhadzhievna Abdulkadyrova

Academician M.D. Millionschikov Grozny State Oil Technical University

14/53, Avtorkhanov str., 364902, Grozny, the Chechen Republic, Russian Federation,

phone/fax: 8 (8712) 22-31-20,

e-mail: L.idigova@mail.ru

The authors of the article reviewed the resource potential of the region in particular, the Chechen Republic that envisages a set of all types of resources, being accumulated in the territory, which can be used in the process of social production. It is noted that the oil and gas complex of the Chechen Republic is a resource-intensive and high-tech sector of the economy. The Republic possesses sources of valuable natural resources, rich experience in oil production and refining as well as presence of large waste reserves. Availability of significant prospected-predicted oil resources in the region allows counting on a significant increase of proven reserves in the future. The rich hydropower resources of the Chechen Republic will enable it to take a significant niche in this market. Special attention should be paid to the development of geothermal energy due to the fact that the geothermal waters are found close to the earth's surface and their energy potential is significant. To embed the remote areas of the region in the economic system of the Chechen Republic and the entire North Caucasus Federal District as a whole it is required to develop wind power thus allowing efficient realization of their potential. Reserves of hydropower are also very significant what makes hydropower development appropriate on the basis of relatively small generating facilities. The main priority of the Chechen Republic industry should be considered the development of such sectors of the economy as construction of oil producing and oil refining enterprises, engineering and metalworking, including the developing automobile industry, woodworking and furniture industry, light industry.

Key words: resource potential; oil industry; resource-intensive technologies; prospective sectors of the industry.

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UDC 336.2

OIL TAXATION IMPROVEMENT BY USING THE TAX ON REVENUE (p. 19)

Tatiana Vladimirovna Balina

V.I. Shpilman Research and Analytical Center for the Rational Use of the subsoil

75, Malygin str., 625000, Tyumen, Russian Federation,

phone: 8(3452) 22-97-23,

e-mail: balina@crru.ru

Sergey Alexandrovich Filatov

Tyumen State Oil and Gas University

38, Volodarsky str., 625000, Tyumen, Russian Federation,

phone: 8 (3452) 41-63-69,

e-mail: filatov@crru.ru

Publication of the new draft law on tax on revenue makes it necessary to carry out a comparative analysis of the new draft law provisions specifying the new tax application and the tax system being in force nowadays. This fact forced considering flows of Tax on Natural Resources Production (TNRP) and Tax on Financial Result (TFR), the state income as well as calculating the most important economic indicators such as Net Present Value (NPV), pay-back period, etc.

The aim of the article is studying of possible versions of draft law optimization in order to guarantee high income to the State and the users of subsoil assets. Besides, the fact that the State share should be no less than it is under the tax system, being in force at present, is of great importance. This condition should be the most critical one for law to come into force. Tax rates that meet the above-said condition are calculated for big deposits. It is proposed to introduce alterations in relation to internal rate of return for smaller license sites of subsoil assets, namely, to estimate the limit of internal return rate for a deposit to be profitable.

Key words: draft law; economic indicators; tax rate; tax on natural resources production (TNRP); tax on financial result (TFR).

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UDC 338.22

ECOLOGICAL-ECONOMIC MECHANISM

OF AN OIL-GAS COMPANY ACTIVITY IN CONDITIONS

OF HIGH RISKS (p. 24)

Yury Viktorovich Razovskiy

S. Yu. Witte Moscow University

12 (1), Vtoroy Kozhukhovskiy proezd, 115432, Moscow, Russian Federation,

phone: 8 (495) 506-23-55,

e-mail: renta11@yandex.ru

Dzhabrail Khalidovich Musaev

Moscow University for the Humanities

5/1, Yunost str., Moscow, 111395, Russian Federation,

phone: 8 (926) 377-62-86,

e-mail: musaev23@inbox.ru

Ecological and economic mechanism of an oil-gas company activity in the northern and Arctic conditions differing in strategic approach to management of mineral resources and industrial capital is presented in the article.

Levels of 31–60 % of equity return acceptable to the northern regions and Arctic conditions of hydrocarbons production guaranteeing their reproduction with account of ecological, northern and Arctic risks are identified in the typing of economic efficiency for the first time.

Rotation of property evaluation, normative profit and excess profits providing intensive development of the enterprise in conditions of economic instability is improved. Along with traditional risks, increased northern regional and environmental risks are taken into account as well as Arctic risk: geopolitical, climatic, military-strategic, social-demographic ones.

Key words: oil producing company; valuation of property; efficiency criteria; ecological and economic mechanism; discounting; capitalization; the Arctic; ecology; risk; mineral raw-material capital; profitability.

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UDC [622.32.+622.24]:658.152

DEFINING OF COMMERCIALLY VIABLE CONDITIONS

FOR THE MAIN SUBJECTS OF RESOURCES USAGE SYSTEM FUNCTIONING

IN THE RUSSIAN FEDERATION (p. 31)

Maria Nikolaevna Klitsuk

"V.I. Shpilman Scientific-Analytical Center of Resources Rational Usage", Autonomous Institution of Khanty-Mansiysk autonomous region – Ugra

75, Malygin str., POB 286, 625026, Tyumen, Russian Federation,

phone: 8 (3452) 22-97-23,

e-mail: klitsuk@crru.ru

Sergey Alexandrovich Filatov

Tyumen State Oil and Gas University

38, Volodarsky str., 625000, Tyumen, Russian Federation,

phone: 8 (3452) 41-63-69,

e-mail: filatov@crru.ru

The efficient functioning of the main subjects of oil and gas branch of the industry is largely determined by the existing taxation system. In its turn, the system of tax regulation in the field of subsoil assets usage should be focused on creation of the optimal conditions for the industry functioning, allowing, on the one part, oil producers to operate at the break-even point and, on the other part, to form the necessary volume of oil and gas revenues for covering the federal budget expenditures. Due to the strong dependence of the oil production market on the geopolitical situation, the ability of the resources usage system to adapt to the changing macroeconomic environment becomes extremely urgent. In this situation the world oil price and the dollar exchange rate become the key macro-parameters depending on the political events to a great deal. Determination of commercially viable conditions for the effective functioning of resources usage system let defining the boundaries of economic efficiency both for the government and the investor in the field of subsoil assets use.

The article suggests giving kind of assignment of the economically efficient boundaries for successful functioning of the main subjects of the resource usage system. This work represents the analysis of commercially viable prices dynamics and identification factors influencing the tendencies revealed while calculating.

Key words: government; subsoil assets user; oil and gas budget revenues; commercially viable oil price.

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UDC 622.276.003.13

WAYS OF EFFICIENCY INCREASE AND RISKS DECREASE

WHILE CONSTRUCTING OIL AND GAS WELLS (p. 36)

Alexander Fedorovich Andreev,

Irina Alexandrovna Oganova

I. Gubkin Russian State University of Oil and Gas

65, bld. 1, Leninsky prosp., 119991, Moscow, Russian Federation,

phone: 8 (499) 507-81-22, 8 (495) 380-72-30,

e-mail: pro_men@list.ru

Sergey Avanesovich Oganov

JSC "VNIIOENG"

14, bld. 2, Nametkin str., 117420, Moscow, Russian Federation,

phone: 8 (495) 332-00-24,

e-mail: vniioeng@vniioeng.ru

Currently, while developing oil and gas fields, drilling, development, putting a well into operation is carried out by the "bottom-up" method, according to which a well is drilled to the basic layer, which lies on the greatest depth of the stratigraphic section. However, the greatest depth achievement, especially when constructing directional and horizontal wells is associated with the risk of accidents and complications, the elimination of which requires spending considerable sums of money and time, up to a total loss of investments. The paper suggests using the "top-down" method, when a well is drilled in the formation, overlying the basic formation and having predicted oil or gas production rate, substantiated from the economic point of view, at the minimum risk of accidents and complications. This well ("the reserve one") will provide compensation of drilling costs due to the sale of the formation product much earlier than envisaged by the project. Basic formation development will be continued after reaching the reimbursement of investment costs and getting profit.

Key words: development of oil and gas fields; well development methods; "bottom-up", "top-down"; accidents and complications; risk criteria: technology, economics; estimated cost; effectiveness of a well construction; open well bore; "liner".

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UDC 338.5

SOME FACTS FROM THE HISTORY OF THE DEPARTMENT «ECONOMY

OF HYDROCARBONS DRILLINGAND AND PRODUCTION AND PROGRAM MEANS

OF JSC "VNIIOENG”» (p. 40)

Mirra Khaimovna Mostovaya

JSC "VNIIOENG"

14, bld. 2, Nametkin str., 117420, Moscow, Russian Federation,

e-mail: vniioeng@mcn.ru

The article is devoted to the 50^th anniversary since JSC "VNIIOENG" foundation and tells some facts from the history of its Department "Economy of hydrocarbons drilling and production and program means". The article presents research leaders of the Department, its leading research employees, basic scientific works, developments, methodologies, programs.

Key words: JSC "VNIIOENG"; anniversary; history.

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THE 80^TH ANNIVERSARY SINCE THE BIRTHDAY

OF SHEVCHENKO A.K. (p. 43)

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JSC "ALL-RUSSIAN SCIENTIFIC-RESEARCH INSTITUTE OF ORGANIZATION, MANAGEMENT AND ECONOMICS OF OIL AND GAS INDUSTRY"

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