Abstract
The development of the licensed areas, profound geological exploration, enhanced oil recovery due to innovative technologies introduction and revitalization of oil production from unconventional horizons could significantly increase the oil production in the Tomsk region. This article deals with the issue of oil producing companies’ affairs of the Tomsk region for the past 10 years and proves the oil production potential growth through the development of both conventional and hard-to-recover unconventional oil reserves, concentrated in the Bazhenov and Tyumen Formations, as well as in the Lower Jurassic sediments. The Russian Federation is far behind from the economically developed countries, especially from the United States, in the exploitation of hard-to-recover unconventional hydrocarbon resources. The «shale revolution» was determined by a complex of financial and tax incentives introduced for oil and gas companies. However, this was mainly beneficial for medium and small sized companies. Therefore, both the business entities and regional authorities should increase the investments spending, as well as introduce the additional tax incentives considering the quality and type of potentially available raw hydrocarbons produced in the region, in contrast to the declared benefits in the territory of Eastern Siberia. The introduction of tax incentives justified by the authors, and the implementation of public-private partnership mechanism will ensure the profitability of marginal and hard-to-recover deposits development of the Tomsk region in the long run, which in its turn, should ensure the stability of the economic development of the reviewed subject of the Russian Federation.
Highlights
Every year about 21 % of tax revenues into Tomsk region budget system come from oil and gas companies, in addition, 19 % of budget revenues come from the enterprises accompanying the activities of the petroleum sector
The leading oil production company is OAO "Tomskneft" VNK (Table 1), which produces more than a half of total amount of oil produced in the Tomsk region
Due to the sustained volatility in the dynamics of oil production in the Tomsk region and a slight growth of the reserves produced from conventional resources, a need for hydrocarbon production from hard-to-recover reserves, which is especially important in the conditions of the "shale revolution", is still remaining
Summary
In accordance with the Strategy of Tomsk Region Development and Tomsk Region Energy Strategy for the period till the year 2020, the oil and gas sector will remain as the basic sector of the economy alongside with the other priorities such as information technology, academic complex, agriculture and timber industry 2. The leading oil production company is OAO "Tomskneft" VNK (Table 1), which produces more than a half of total amount of oil produced in the Tomsk region. Even this company has a decrease in hydrocarbon production for the last 10 years. The analysis of oil production companies CAPEX plan shows a significant differentiation both in the amount of investments into the fixed assets and the level of plan realization (Table 2)
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