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Analysis of the oil companies’ performance (on the example of Tomsk Region)

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  • Irina Sharf

    (National Research Tomsk Polytechnic University)

Abstract

The implementation of socio-economic development programs of Tomsk region is largely determined by the activities of oil companies. Analyzing the outcomes of their activity is necessary to reveal the basic trends and influencing factors for the development of measures to support basic industry. The analysis shows that there are few successful companies carrying out the license agreements and plans for oil extraction, as well as investing in exploration and development of new deposits. As a consequence, forecasts for growth of hydrocarbon reserves in the long run and the implementation of the energy strategy of Tomsk region for the period up to 2020 are not promising. The current situation is primarily caused by current tax and investment policies towards small subsoil users who operate small and medium-sized fields in complicated industrial and geological conditions. As a result, we have an increase in costs for growth of hydrocarbon reserves per meter of deep drilling and the costs of preparing each ton of oil, which ultimately leads to lower profitability of oil companies.

Suggested Citation

  • Irina Sharf, 2012. "Analysis of the oil companies’ performance (on the example of Tomsk Region)," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 189-196.
    • Handle: RePEc:ura:ecregj:v:1:y:2012:i:3:p:189-196
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