Algorithm for implementing the import substitution strategy when exploiting hydrocarbons on the Arctic shelf of the Russian Federation

Abstract

The development of an algorithm for implementing the import substitution strategy related to the exploitation of oil and gas fields on the Arctic shelf of the Russian Federation requires full-scale state regulation aimed at reducing dependence on technologies and the corresponding equipment of the global oil and gas business. Dependence on imported technologies in recent years has contributed to the lag and slowdown in the creation of domestic innovative technologies and related equipment as well as the loss of competitive advantages. The work formulates the principles for the formation of the import substitution strategy when exploiting oil and gas fields on the Arctic shelf which encompass the problems of scientific justification, legal regulation, systemic character, adaptability, innovative development, efficiency, economy, maintenance and growth of product quality, the need for process informatization and active use of workforce as well as environmental safety. An exemplary algorithm for implementing the strategy of import substitution when exploiting hydrocarbons on the Arctic shelf is presented and its stages are considered. The proposed algorithm for implementing the strategy of import substitution when exploiting hydrocarbons on the Arctic shelf will increase the number of factors of the Russian Arctic development and is an important basis for involvement of industrial enterprises, exploration and research organizations to production of innovative goods and services. As a result it will serve as an incentive for industrial, infrastructural and socio-economic development of the Arctic territory.