Abstract
The relevance of the article is due to the fact that as the ice melts, the Arctic Ocean is becoming increasingly available. This fact has renewed the interest in Arctic mineral resources. The purpose of this article is to study special aspects of the development of Arctic hydrocarbon resources, which can boost the economic growth of the Russian economy in the medium term, and to identify approaches to enhance the economic value of these processes. The purpose was achieved by the solution of the following objectives: analysis of the current state of the Arctic resources, as well as the situation on both the global and Russian markets for hydrocarbon resources; study of the special part played by Arctic marine hydrocarbons; and substantiation of the development of transport infrastructure as an important factor in enhancing the economic efficiency of the production of offshore hydrocarbon resources in the Arctic Regions. The methodological framework of the article is formed by the fundamental provisions of economic theory, national economy, economic, environmental and energy security, as well as discoveries and developments by foreign and domestic scientists to ensure the economic efficiency of offshore hydrocarbon production in the Arctic Regions. The author’s sequence of stages for calculating the technical and economic potential of offshore oil and gas fields in the Arctic is proposed, which, unlike the existing ones, is based on an integral indicator combining financial, technical, climatic and service-infrastructure characteristics of fields, which makes it possible to make a rating of fields to determine the order and priority of the beginning of their development. The necessity of taking into account a wide list of factors in the comparative analysis of oil and gas fields in the Arctic in order to make strategic management decisions on the priority of field development is proved. The article suggests that the organizational structure and legal support be differentiated by management levels (mega-level, macro-level, meso-level, and micro-level), as it pertains to the extraction of marine hydrocarbon resources in the Arctic Regions and the development of the transport infrastructure of the Northern Sea Route.
Highlights
In recent years, the Arctic Regions have attracted increasing attention
The purpose of this article is to study special aspects of the development of Arctic hydrocarbon resources, which can boost the economic growth of the Russian economy in the medium term, and to identify approaches to enhance the economic value of these processes
The methodological framework of the article is formed by the fundamental provisions of economic theory, national economy, economic, environmental and energy security, as well as discoveries and developments by foreign and domestic scientists to ensure the economic efficiency of offshore hydrocarbon production in the Arctic Regions
Summary
The Arctic Regions have attracted increasing attention. Global warming is forcing the Arctic ice to retreat far and wide, making the Arctic Regions more accessible. The growth of the world population, accompanied by increasing purchasing power, causes the growing need for energy and minerals throughout the world. Coupled with the fact that a number of existing mines and fields are being depleted with time, this means that mining and oil companies are looking for new sites to extract raw materials, prompting more companies and people to consider the Arctic and the vast resources that are becoming increasingly accessible due to climate change and ice retreat [1]. The growth in demand for minerals is caused by three factors: (1) the growth of the world population, (2) the constantly improving world standard of living and greater purchasing power, (3) an increased share of consumer goods that contain minerals. Increased demand, coupled with the fact that the extraction of minerals is becoming more expensive, has for a long period of time led to higher prices in the world market (there are short-term fluctuations, and economic crises periodically lead to a drop in prices for many mineral resources)
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