Economic and social benefits of a strategy of ecological monitoring for oil and gas companies operating in the Russian Arctic

Ishel Bianco,Alexey Fadeev,Alexander Illinskyi,V Kankhva

doi:10.1051/e3sconf/202125805030

Ishel Bianco, Alexey Fadeev + Show 2 more

Open Access

https://doi.org/10.1051/e3sconf/202125805030

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Abstract

Ecological monitoring provides a more complete picture of the possible effects of extractive activities for oil and Gas companies operating in the Russian Arctic and in other ecological sensitive areas. This paper proposes a framework to evaluate the adequacies of different monitoring systems for Operations in the Arctic for oil and Gas companies. Our research also demonstrates how Ecological monitoring could be a useful strategic tool for long term risk reduction, accident avoidance and to improve the socio-economic development for indigenous communities.

Highlights

The Arctic is a very fragile environment characterized by harsh and unpredictable conditions, the risks of operations for Oil and Gas companies are very high due to the consequences of ecological damage that can translate into severe damage for renewable resources and impairing destruction of rare species
Different extractive companies use different types of monitors to measure the impacts of their activities in the environment and to prevent disasters, in ecologically sensitive areas like the Arctic regions
To be able to quantify the benefits of investment on ecological monitoring we first defined the type of costs that an oil company might incur and it calculates the average of a spill or disaster in a particular area, First, we define the costs of an accident

Summary

Introduction

The Arctic is a very fragile environment characterized by harsh and unpredictable conditions, the risks of operations for Oil and Gas companies are very high due to the consequences of ecological damage that can translate into severe damage for renewable resources and impairing destruction of rare species. Different extractive companies use different types of monitors to measure the impacts of their activities in the environment and to prevent disasters, in ecologically sensitive areas like the Arctic regions. Ecological/Multispecies Biological monitoring provides with a far more complete picture of the consequences of extractive activities in particular of oil and gas extraction, related to biomes that provide valuable climatic and renewable resources from which Arctic populations depend [2]

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