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The Innovative Ways of Development in the Oil and Gas Industry of Kazakhstan

Author

Listed:
  • Sabina Beisembekova

    (Faculty of Economics and Management, Karaganda University of Kazpotrebsoyuz, Kazakhstan,)

  • Muratbay Sikhimbayev

    (Scientific Research Institute of Economics and Law, Karaganda University of Kazpotrebsoyuz, Kazakhstan,)

  • Dinar Sikhimbayeva

    (Scientific Research Institute of Economics and Law, Karaganda University of Kazpotrebsoyuz, Kazakhstan,)

  • Gulnara Srailova

    (Faculty of Economics and Management, Karaganda University of Kazpotrebsoyuz, Kazakhstan,)

Abstract

The article considers theoretical and methodological approaches to research of sustainable development of the oil and gas industry of Kazakhstan in modern conditions. Oil and gas industry is viewed as one of the priority directions of government economic policy, which is of particular importance in providing sustainable development of the country. It is noted, that increasing of stability of Kazakhstani oil and gas industry development is presented itself one of the most important issue of state economics. Authors identify main problems affecting on innovative development of the oil and gas industry. It was emphasized, taking into account the current trends, stability of oil and gas complex is affected by the number of conjuncture market factors, including price factors, bank interest rates, market conjuncture for this product, or value of its supply and demand in domestic and foreign markets. Main principles and criteria of innovative development of the oil and gas industry were developed. It is proved, that innovative development of the oil and gas industry should be carried out on the basis of the principles. The forecast of innovative development of the oil and gas industry was built on the basis of designed formula. The forecast of revenue from innovations is on the perspective period in the extraction and processing of high-sulfur, light and heavy oil for 2022-2026 that presented as table and forecast diagram. The innovative development of the oil and gas industry should be carried out on the basis of the researched principles. As a result of conducted research priorities of innovative development of the oil and gas industry were identified.

Suggested Citation

  • Sabina Beisembekova & Muratbay Sikhimbayev & Dinar Sikhimbayeva & Gulnara Srailova, 2022. "The Innovative Ways of Development in the Oil and Gas Industry of Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 12(1), pages 9-16.
    • Handle: RePEc:eco:journ2:2022-01-2
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    References listed on IDEAS

    as
    1. Batyrbyek KHADYS & Dinar SIKHIMBAYEVA & Altai BOZHKARAULY, 2018. "State Regulation of the Development of the Agro Industrial Complex of the Republic of Kazakhstan," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 9(1), pages 127-138.
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    3. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
    4. Harold Hotelling, 1931. "The Economics of Exhaustible Resources," Journal of Political Economy, University of Chicago Press, vol. 39(2), pages 137-137.
    5. G. M.P. Swann, 2009. "The Economics of Innovation," Books, Edward Elgar Publishing, number 13211.
    6. Muratbay SIKHIMBAYEV & Zhanna SHUGAIPOVA, 2017. "Features of Investment Activity Management in the Mineral and Raw Materials Sector of the Economy," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 8(6), pages 1928-1932.
    7. V. Polterovich., 2009. "The Innovation Pause Hypothesis and the Strategy of Modernization," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 6.
    8. Alfred Kleinknecht, 1987. "Innovation Patterns in Crisis and Prosperity," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-11175-6.
    9. repec:srs:journl:jarle:v:9:y:2018:i:1:p:127-138 is not listed on IDEAS
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    Cited by:

    1. Muhammad Ariyon & Sukendi Sukendi & Ridwan Manda Putra & Husnul Kausarian, 2024. "Multidimensional Analysis of Sustainability and Integration of Sustainable Energy Practices in Petroleum Field Management," International Journal of Energy Economics and Policy, Econjournals, vol. 14(4), pages 654-662, July.

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    More about this item

    Keywords

    Oil and Gas Industry; Innovative Development; Innovation Policy; Innovative Activity; New Technologies;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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