Economic Transformation of Subsoil Use as an Imperative of the Modern History of Russia

The relevance of the topic of the article is due to the role and significance of the results of the process of economic transformation of the sphere of subsoil use in Russia, which ensures the raw material sovereignty of the state in modern geopolitical and geo-economic conditions. The purpose of the article is to assess the transformational changes in the field of subsoil use in Russia. Objectives: to evaluate innovations in the field of “new subsoil use†; identify the key problems of subsoil use in terms of geological study, prospecting, exploration and production of minerals; perform an analysis of the prospects for international cooperation with friendly countries for the development of the Arctic zone of the Russian Federation; offer options for management decisions that are adequate to the modern conditions of functioning of the sphere of nature management. Methods. System approach, logical analysis, synthesis. Results. Top innovations in the field of prospecting, exploration and production of minerals are represented by the initiative project of the Russian Ministry of Natural Resources “Geology of Russia: the revival of a legend†, large-scale changes in the legislation on subsoil use, measures of financial support for subsoil users for certain types of strategic raw materials. The key problems of subsoil use are the existing shortage of reserves of some types of strategic raw materials, as well as the need to replace technological equipment and software. Maintaining the level of annual production, increasing marginality and reducing costs in the processing of hydrocarbonraw materials is associated with the digital transformation of the industry. It is logical to consider the possibilities for the development of the Russian Arctic zone in the context of the joint tripartite BRICS initiatives. Conclusions. The implementation of projects in the field of subsoil use requires adequate approaches and the criteria for the success of the implementation of such projects should be: results; speed (time); data. Two directions in the use of Russia’s natural resource potential seem promising: updating the classification of hard-to-recover oil and gas reserves; use of the concession mechanism for the implementation of projects in the Arctic tourism segment.