UDC

338.45:622.32

Authors

Mirzoev Marsel Ramisovich
Postgraduate Student, Higher School of Economics and Management, Northern (Arctic) Federal University named after M.V. Lomonosov; Arkhangelsk Scientific Centre, Ural Branch of the Russian Academy of Sciences (Arkhangelsk, Russia)
e-mail: marsel_mirzoev@mail.ru
Skripnichenko Vladimir Aleksandrovich
Institute of Oil and Gas, Northern (Arctic) Federal University named after M.V. Lomonosov (Arkhangelsk, Russia)
e-mail: v.scripnichencko@yandex.ru

Abstract

The article discusses the importance and the unexplored potential of the Arctic zone, highlights Russia’s national interests in the Arctic and studies the data on the concentration of the majority of unique large hydrocarbon deposits. Further, we look at the development trends in this industry, Russia’s remote regions and those difficult to access, as well as at the country’s strategic position getting stronger. Prospects of introducing large investment projects are also considered; a brief assessment of the economic status of the Russian Arctic is provided. We highlight the need for environmental risk assessment and systems to prevent accidents and eliminate their consequences as well as those resulting from the pollutants and waste that has accumulated on the Arctic islands since the 1940s. Moreover, measures need to be developed in order to preserve species diversity in the Arctic. Further, the paper dwells on the responsibilities of companies to prevent oil spills, prove their financial capacity to perform this work and develop a system to monitor the state of the marine environment. Moreover, changes to the law on the content of oil spill prevention and response plans are considered as well as a number of government policy documents focused on the strategy for the socioeconomic development of Russia until 2020. In addition, we study the current geopolitical situation as Russia is facing intense pressure from its competitors interested in the country’s staying a raw material supplier. Further, the paper analyses the EU and US sanctions against Russian oil and gas companies and their impact on the economy, paying attention to the Iranian experience under US sanctions and the country’s way out of the crisis by means of import substitution. Also in this paper we present the results of the study on economic and political mechanisms used to solve the problem of offshore oil-field development in the Arctic and provide an economic assessment of certain types of oil projects.

Keywords

economic evaluation, offshore oil-field, hydrocarbon potential

References

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