ISSN 1999-6942

Scientific-economic journal

PROBLEMS OF ECONOMICS

AND MANAGEMENT OF OIL AND GAS COMPLEX

March 2017                                           ¹ 3                                     12 issues per year

 

CONTENÒS

 

STRATEGY

 

Borodin S.S., Zubareva V.D., Sarkisov A.S. Development of the method of projects portfolio formation of an oil and gas company (p. 4-9)

 

ECONOMICS

 

Buravtsov I.A., Zubareva V.D. Economic analysis of regulation of gas consumption fluctuations due to gas underground storage and production (p. 9-13)

 

Idigova L.M., Khadzhieva M.M., Dudaev R.R. Successful development of the Chechen Republic industry is possible only by improving the investment climate (p. 13-19)

 

ORGANIZATION AND MANAGEMENT

 

Zaitsev E.K. Problems of management of Russian oil and gas sector in conditions of the market relations (p. 20-23)

 

ECONOMIC-MATHEMATICAL MODELING

 

Bogatkina Yu.G., Eremin N.A., Lyndin V.N., Eremin A.N. A method of economic-mathematical evaluation of oil and gas investment projects on terms of product sharing agreement (PSA) (p. 23-28)

 

Georgievskiy B.V., Bochkarev V.A. Economic-geological evaluation of exploration objects when developing prospecting strategy (p. 28-43)

 

WORLD OIL AND GAS BUSINESS

 

Telegina E.A. Post-hydrocarbon energy of the future: new prospects for gas markets (p. 44-48)

 

Liang Meng, Chen Huan, Xu Xin, Yuan Haiyun, Yang Ying, Khlebnikov V.N. Comparative analysis of the current status of the oil & gas industry in China and Russia (p. 49-58)

 

Information on the articles (p. 59-63)

 

 

Information on the articles

 

UDC 65.011.8

 

DEVELOPMENT OF THE METHOD OF PROJECTS PORTFOLIO FORMATION

OF AN OIL AND GAS COMPANY (p. 4)

 

Stanislav Sergeevich Borodin

 

PJSC "Gazprom"

61, Ligovsky prosp., 191040, Saint-Petersburg, Russian Federation,

e-mail: Sborodin2007@rambler.ru

 

Valentina Dmitrievna Zubareva,

Avedik Sergeevich Sarkisov

 

Gubkin Russian State Oil and Gas University (National Research University, NRU)

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

 

The article is devoted to the development of the method applied to form an oil and gas company's portfolio, allowing to select the most effective solutions in conditions of limited financial resources.

The article proves the necessity of some new methods development providing strategic management of oil and gas companies development, which are based on the project portfolio selection, ensuring the implementation of the strategy as well as accounting of the need of periodic review of the projects portfolio structure, allowing for a more detailed analysis and prediction of their indicators and properties

The article is intended for specialists engaged in various fields of project management, as well as for students of engineering and economic faculties of higher educational institutions.

 

Keywords: project management; project portfolio; oil and gas companies; decision-making; operations research; projects selection.

 

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UDC 338.001.36

 

ECONOMIC ANALYSIS OF REGULATION OF GAS CONSUMPTION FLUCTUATIONS

DUE TO GAS UNDERGROUND STORAGE AND PRODUCTION (p. 9)

 

Igor Anatolievich Buravtsov

 

LLC "Research Institute of Economics and Management in Gas Industry" (LLC "NIIgazeconomika")

20, bld. 8, Staraya Basmannaya str., 105066, Moscow, Russian Federation,

e-mail: I.Buravcov@econom.gazprom.ru

 

Valentina Dmitrievna Zubareva

 

Gubkin Russian State University of Oil and Gas (National Research University, NRU)

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

 

The article discusses the evaluation of complex scientific researches aimed at improving the validity of management decisions related to the selection of sources to cover fluctuations of gas consumption. The analysis is based on the current practice as well as future possibilities of gas underground storage and production in the sphere of gas supply regulation to ensure reliability and balance of the work of the Unified gas supply system (UGSS) of Russia in the domestic market.

The obtained results can be used for economic justification of the current planning and operational management of UGSS, forecasting of long-term coverage of gas consumption fluctuations due to the gas removal/injection from/into underground storage facilities or gas production.

 

Keywords: underground gas storage; gas production; gas consumption fluctuations; economic analysis.

 

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UDC 338.45.01

 

SUCCESSFUL DEVELOPMENT OF THE CHECHEN REPUBLIC INDUSTRY

IS POSSIBLE ONLY BY IMPROVING THE INVESTMENT CLIMATE (p. 13)

 

Lalita Musaevna Idigova

 

Chechen State University

32, A. Sheripov str., 364051,Grozny, the Chechen Republic, Russian Federation,

e-mail: L.idigova@mail.ru

 

Maryam Mauldynovna Khadzhieva

 

AGI, Academy of Sciences of the Chechen Republic

13, Revolutsiya prosp., 364024, Grozny, the Chechen Republic, Russian Federation,

e-mail: L.idigova@mail.ru

 

Rustam Ramzanovich Dudaev

 

Ibragimov Comprehensive Research Institute

21A, Staropromyslovskoye shosse, 364051, Grozny, the Chechen Republic, Russian Federation,

e-mail: L.idigova@mail.ru

 

The article discusses the ways and prospects of successful development of the region industry by improving the investment climate. It is noted that the industry – strong, effective – is necessary for each subject of the Russian Federation. Only it allows to form the revenue base of the budget, to guarantee employment of the population and quality of its life, to fulfill social obligations of the state. Formation of the effective industry of the Chechen Republic requires improvement of the investment attractiveness of the Chechen Republic by increasing the labor, financial, industrial, consuming and innovation potential, reduction of the public sector of the industry and all types of investment risks.

The purpose of this article is to analyze the key factors shaping the investment attractiveness of the Chechen Republic and to make recommendations on their improvement and development. It is important to comprehensively and consistently solve, firstly, the problem of increasing the economic potential of the Republic and, secondly, to reduce investment risks.

 

Keywords: development of the industry; investment climate; cost-effectiveness; investment risks; competition.

 

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UDC 658.5

 

PROBLEMS OF MANAGEMENT OF RUSSIAN OIL AND GAS SECTOR

IN CONDITIONS OF THE MARKET RELATIONS (p. 20)

 

Evgeny Kondratievich Zaitsev

 

LLC "Resource-Oil"

28, Altufevskoe shosse, 127562, Moscow, Russian Federation,

e-mail: alser2014@mail.ru

 

The article deals with a long-term negative situation that exists in the oil and gas complex of Russia. The main problems common to all vertically integrated oil companies, structures that provide exploration researches are revealed. It is shown that the way to a radical change of functioning of the oil and gas complex of Russia lies in the reconstruction of the existing management system, in the involvement of the state into the solution of important strategic objectives related to the use of national natural resources in conditions of presence of anti-Russian western sanctions and hopeless world market relations.

 

Keywords: oil and gas complex of Russia; problems of management of Russian oil and gas complex; development of relations between the state and the oil and gas complex of Russia.

 

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UDC 004:330.322

 

A METHOD OF ECONOMIC-MATHEMATICAL EVALUATION

OF OIL AND GAS INVESTMENT PROJECTS ON TERMS

OF PRODUCT SHARING AGREEMENT (PSA) (p. 23)

 

Yulia Gennadievna Bogatkina1,

Nikolay Alexandrovich Eremin1,2,

Viktor Nikolaevich Lyndin2,

Anton Nikolaevich Eremin2

 

1 Institute of Oil and Gas Problems Russian Academy of Sciences (IPNG RAN)

3, Gubkin str., 119333, Moscow, Russian Federation,

e-mail: ubgt@mail.ru, ermn@mail.ru

 

2 Gubkin Russian State Oil and Gas University (National Research University, NRU)

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

e-mail: atzako@mail.ru

 

An economic-mathematical method based on the theory of fuzzy sets is proposed. At the same time, economic indicators (criteria) of an investment project effectiveness on terms of Product Sharing Agreement (PSA) can be combined within the same model, which, based on the generalized indicator, makes it possible to take the final decision on the effectiveness of the analyzed project. The presented method is a useful tool for economic and mathematical evaluation of fields investment projects in conditions of uncertainty of the enterprise resources. One of its main advantages is the flexibility of accounting for the preferences of the experts and the importance of certain indicators at the time of evaluation, herewith, it does not require complex mathematical calculations and expensive software.

 

Keywords: economic evaluation; oil and gas investment project; economic and mathematical methods; project solutions.

 

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UDC 550.8

 

ECONOMIC-GEOLOGICAL EVALUATION OF EXPLORATION OBJECTS

WHEN DEVELOPING PROSPECTING STRATEGY (p. 28)

 

Boris Vladimirovich Georgievskiy

 

JSC ″Zarubezhneft″

9/1/1, bld. 1, Armyansky per., 101990, Moscow, Russian Federation,

e-mail: bvgeo@mail.ru

 

Vitaly Anatolievich Bochkarev

 

LUKOIL International Upstream West Inc.

Three Greenway Plaza, 12th Floor, Houston, TX 77046,

e-mail: Vitaliy.Bochkarev@lukoil-international.com

 

The article discusses the economic-geological analysis of the modeled exploration objects. It is shown that most of the used economic criteria do not take into account the uncertainty factor of geological success. Besides, ranking and selection of a priority object to be subjected to geological-prospecting works (GPW) based on certain economic-geological criteria leads to ambiguous results. One of the most informative indicators is the criterion of expected monetary value (EMV), which takes into account both the probability of the geological success together with the probability of presence of a certain resource base of the explored object and the cash flow that characterizes all the costs and all the predicted revenues to be gained in case of the successful development of the object. Besides, if there are several prospecting objects characterized by partial geologic dependence among them, the key factor is the analysis of the incurred costs ratio of geological-prospecting works (GPW) and expected cost (expected profit). The model shows that, depending on the work strategy, the balance of cost and the expected profit can lead to dramatically different results.

 

Keywords: economic-geological evaluation; geological-prospecting works (GPW); uncertainties; ranking of exploration objects; expected monetary value (EMV); strategy of exploration works.

 

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UDC 620.9

 

POST-HYDROCARBON ENERGY OF THE FUTURE:

NEW PROSPECTS FOR GAS MARKETS (p. 44)

 

Elena Alexandrovna Telegina

 

Gubkin Russian State Oil and Gas University (National Research University, NRU)

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

e-mail: meb@gubkin.ru

 

The article discusses the world energy of the future in conditions of unstable economic growth, ongoing decline in oil and gas prices due to hydrocarbons production oversupply. The problems related to the environment safety and the climate warming require the reduction of traditional hydrocarbons use. Harsh conditions of ecological development should lead to the gas market restoration and gas demand growth in the near future. The possibilities of alternative and renewable energy sources, development of nuclear and electric power industries are considered as well.

 

Keywords: traditional hydrocarbons; oil; gas; liquefied natural gas; nuclear power; electric power; alternative energy; renewable sources of energy; environment safety; climate.

 

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UDC 338.45

 

COMPARATIVE ANALYSIS OF THE CURRENT STATUS

OF THE OIL & GAS INDUSTRY IN CHINA AND RUSSIA (p. 49)

 

Liang Meng,

Yang Ying,

Vadim Nikolaevich Khlebnikov

 

Gubkin Russian State University of Oil and Gas (National Research University, NRU)

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

e-mail: liangmeng@mail.ru, yyainngg@126.com, khlebnikov_2011@mail.ru

 

Chen Huan

 

China Petroleum University

18, Fu Xun Lu, 102249, Beijing, People’s Republic of China,

e-mail: 837193479@qq.com

 

Xu Xin

 

China Coal Institute

35, Shao Yao Ju str., 100029, Beijing, Chaoyang district, People’s Republic of China,

e-mail: xuxin@coalinfo.net.cn

 

Yuan Haiyun

 

Petro China Changqing Oilfield Company

73, Feng Chengxily str., 710021, Xian, People’s Republic of China,

e-mail: 819088945@qq.com

 

This article presents a comparative analysis of the current state of China's and the Russia's oil and gas industry. The main characteristics of the oil and gas industry in these two countries are compared, including the resources and reserves of oil and natural gas, exploration of hydrocarbon resources, oil and gas production dynamics during 2000–2015, the state of development of oil and natural gas trade, etc. Besides, special attention is drawn to the unconventional hydrocarbon resources, namely, the structure and distribution of unconventional oil and gas resources in these two countries are compared, the state of exploration and development of unconventional gas resources are discussed. The authors noted that the gas industry for the economic and industrial development of China and Russia is becoming more prominent. In the conditions of the western sanctions and the current situation of the global energy, Russia faces the need to strengthen cooperation with the countries of the Asian-Pacific Region especially with China. Finally, priorities in the field of energy cooperation between the two countries are proposed.

 

Keywords: oil and gas industry; blue fuel; energy; state; China; Russia.

 

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