Tkachenko A.O., Soloveva Yu.Yu.Published in:
Russian Journal of Entrepreneurship
– Volume 18, Number 20 (October 2017)

JEL classification: Q32, Q35, R19, R58

Keywords: "old" oil and gas producing areas, degree of depletion of reserves, economic diversification, preparatory measures


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Abstract:

In current economic conditions the consideration of oil and gas producing areas, exploiting deposits in the late stage of development become increasingly relevant. Since it’s is obvious that the economies of such regions depend on the raw material, the consequences of the fall in oil prices and the signed agreement on the reduction of oil production will not have a positive impact on the economic and social development of such regions. The article considers “old” oil and gas producing areas. The article focuses on the assessment of the share of the oil industry in the gross regional product and the degree of depletion. It analyzes the development strategies for the regions. As the result of the study we’ve identified three groups of “old” oil and gas producing areas: a) areas that seek to maintain the level of oil and gas specialization; d) regions planning to reduce the level of oil and gas specialization; c) areas with a low volume of oil and gas reserves. On the basis of the obtained results we draw conclusions about development directions of "old" oil and gas producing areas.

Highlights:

In addition to the decrease in oil prices, the agreements between OPEC countries and oil-producing countries outside the cartel to reduce oil production will have a negative impact on the "old" oil and gas producing regions that exploit deposits with an average production cost of not more than $ 20 per barrel.
Reduction of the negative impact of the deterioration of the fuel and mineral resource base of the oil and gas industry is possible due to preparatory activities.
Strategies and programs for the development of the "old" oil and gas producing areas of the Russian Federation made it possible to identify three groups of areas.
We identified the main development directions of the "old" oil and gas producing areas: the expansion of the mineral resource potential, the development of oil and gas chemical complex, the diversification of the economy.

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