On the issue of influence factors in the oilfield services business

Abstract

Relevance. In today`s highly turbulent business environment, economic development of the oilfield services industry is under the influence of many multidirectional factors, most of which simultaneously affect the progress of the Russian oil and gas industry. Accordingly, there is a need for continuous monitoring and analysis of events in order to identify such factors in a timely manner and correctly account for their impact on the production activities of companies that make up the oilfield services companies. The purpose of this research is to solve the problem of identifying, scientific analysis and objective assessment of the influence of external and internal environmental factors on the formation and functional of the adaptive business model of the oilfield services company, including the development of a long-term development strategy on a basis of alternative scenario taking account the industry features of the oilfield service and the development of a science and practical methodological approach to building a system of accounting for industry factors to neutralize possible negative situations in the future. Results. A system of factors influencing the formation and development of a business model of an oilfield services company, classified by the scale of influence, quantitative assessment of the duration and effectiveness of influence, as well as divided into groups of external and internal factors, has been developed. General and specific, measurable and non-measurable, objective and subjective, constant and variable factors are highlighted. To asses and rank the factors influencing the formation and development of the business model of an oilfield services company, a comprehensive calculation of the influence indicator is proposed, taking into account the above parameters and the degree of certainty or uncertainty of their influence on the basis of a 3-point evaluation scale according to the selected criteria. The results of the approbation of the proposed approach to the assessment of factors in the context of 3 main segments of the oilfield services business are represented: well drilling, current and major repairs, geophysical exploration. Conclusion. The key internal factors determine the structure the oilfield services market, the terms of payment for service contracts, digitalization and the technologies used, the state of the production infrastructure, personnel quality and occupational safety. The most significant external factors are the state of the global energy market, structure and trends of the world economy, social aspects, foreign policy situation, the state as a participant of the market. It is confirmed that when forming promising development strategies of the oilfield services company, analysis, assessment and correct accounting of external and specific internal factors of influence for forecasting possible risks of production activities can minimize or completely avoid negative consequences in the event of adverse situations.