Bueavi Ali Fadl – (Financial University under the Government of the Russian Federation, Corporate Finance and Corporate Governance Department)
The publication examines the problems of corporate sector investment in the development of oil and gas fields on the example of Iraq and the Russian Federation. It is stated that there are a number of problems associated with the lack of financial and economic mechanisms to encourage corporations to intensify financing and inefficient public administration in this area. There is a low tendency of oil-producing enterprises of both states to invest in the development of oil and gas fields, and shifting the burden of financing to the state. To solve the problem, it is proposed to build a special model of financial relations between the state and oil-producing corporations. This model is only possible under certain conditions: long-term engagement; Pareto-responsibility between the state and oil corporations, 20/80% in shares of funding for field development; the establishment of a fixed fee oil corporations for the rent at a level not below 50% as tool fair withdrawal of oil and gas rent; observance of environmental safety. The application of the model will contribute to the further formation and sustainable development of the oil and gas complex in emerging markets.
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