Assessing the extraction potential of Tomsk region's difficult-to-obtain oil reserves

Irina Valeryevna Sharf, Larisa Sergeevna Grinkevich

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

A significant increase in oil production in the Tomsk region can be achieved by a better development of the license areas at the disposal of oil-producing companies, active prospecting, introduction of innovative technologies to increase the oil recovery, as well as active oil extraction from unconventional horizons. This article reviews the activities of the oil-producing companies of the Tomsk region for the past 10 years, and proves the potential of increasing oil production of both traditional and difficult-to-obtain oil reserves, concentrated in the Bazhenov and Tyumen Formations and the Lower Jurassic sediments. Technologically, Russia is significantly lagging behind the economically developed countries in the extraction of hard unconventional hydrocarbon resources, primarily, the United States. The observed "shale revolution" was due to the complex of financial and tax breaks for oil companies, from which mainly medium and small companies were benefited. As a result, this requires an increase in investment on the part of economic entities and regional authorities, as well as additional tax benefits, considering the quality and types of actual and prospective raw materials produced in the region, in contrast to the declared benefits in Eastern Siberia. The introduction of tax incentives justified by the authors and the implementation of public-private partnership will ensure the profitability of the development of marginal and difficult-to-obtain oil deposits of the Tomsk region in the long term, which in turn should ensure the stability of economic development of the subject of the Russian Federation.

Original languageEnglish
Pages (from-to)201-210
Number of pages10
JournalEconomy of Region
Issue number1
DOIs
Publication statusPublished - 1 Jan 2016

Fingerprint

taxes
oil
Russia
regional authority
oil production
Siberia
public private partnership
raw materials
profitability
license
tax incentive
economics
hydrocarbon resource
public-private partnership
incentive
Oil
shale
economic development
Jurassic
resources

Keywords

  • Difficult reserves
  • Oil extraction
  • Tax exemption
  • Tax on mineral extraction
  • The Bazhenov Formation

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Economics, Econometrics and Finance(all)

Cite this

Assessing the extraction potential of Tomsk region's difficult-to-obtain oil reserves. / Sharf, Irina Valeryevna; Grinkevich, Larisa Sergeevna.

In: Economy of Region, No. 1, 01.01.2016, p. 201-210.

Research output: Contribution to journalArticle

@article{b54d6cf1e3ac424a991e9a7c690126d6,
title = "Assessing the extraction potential of Tomsk region's difficult-to-obtain oil reserves",
abstract = "A significant increase in oil production in the Tomsk region can be achieved by a better development of the license areas at the disposal of oil-producing companies, active prospecting, introduction of innovative technologies to increase the oil recovery, as well as active oil extraction from unconventional horizons. This article reviews the activities of the oil-producing companies of the Tomsk region for the past 10 years, and proves the potential of increasing oil production of both traditional and difficult-to-obtain oil reserves, concentrated in the Bazhenov and Tyumen Formations and the Lower Jurassic sediments. Technologically, Russia is significantly lagging behind the economically developed countries in the extraction of hard unconventional hydrocarbon resources, primarily, the United States. The observed {"}shale revolution{"} was due to the complex of financial and tax breaks for oil companies, from which mainly medium and small companies were benefited. As a result, this requires an increase in investment on the part of economic entities and regional authorities, as well as additional tax benefits, considering the quality and types of actual and prospective raw materials produced in the region, in contrast to the declared benefits in Eastern Siberia. The introduction of tax incentives justified by the authors and the implementation of public-private partnership will ensure the profitability of the development of marginal and difficult-to-obtain oil deposits of the Tomsk region in the long term, which in turn should ensure the stability of economic development of the subject of the Russian Federation.",
keywords = "Difficult reserves, Oil extraction, Tax exemption, Tax on mineral extraction, The Bazhenov Formation",
author = "Sharf, {Irina Valeryevna} and Grinkevich, {Larisa Sergeevna}",
year = "2016",
month = "1",
day = "1",
doi = "10.17059/2016-1-15",
language = "English",
pages = "201--210",
journal = "Economy of Region",
issn = "2072-6414",
publisher = "Institute of Economics, The Ural Branch of Russian Academy of Sciences",
number = "1",

}

TY - JOUR

T1 - Assessing the extraction potential of Tomsk region's difficult-to-obtain oil reserves

AU - Sharf, Irina Valeryevna

AU - Grinkevich, Larisa Sergeevna

PY - 2016/1/1

Y1 - 2016/1/1

N2 - A significant increase in oil production in the Tomsk region can be achieved by a better development of the license areas at the disposal of oil-producing companies, active prospecting, introduction of innovative technologies to increase the oil recovery, as well as active oil extraction from unconventional horizons. This article reviews the activities of the oil-producing companies of the Tomsk region for the past 10 years, and proves the potential of increasing oil production of both traditional and difficult-to-obtain oil reserves, concentrated in the Bazhenov and Tyumen Formations and the Lower Jurassic sediments. Technologically, Russia is significantly lagging behind the economically developed countries in the extraction of hard unconventional hydrocarbon resources, primarily, the United States. The observed "shale revolution" was due to the complex of financial and tax breaks for oil companies, from which mainly medium and small companies were benefited. As a result, this requires an increase in investment on the part of economic entities and regional authorities, as well as additional tax benefits, considering the quality and types of actual and prospective raw materials produced in the region, in contrast to the declared benefits in Eastern Siberia. The introduction of tax incentives justified by the authors and the implementation of public-private partnership will ensure the profitability of the development of marginal and difficult-to-obtain oil deposits of the Tomsk region in the long term, which in turn should ensure the stability of economic development of the subject of the Russian Federation.

AB - A significant increase in oil production in the Tomsk region can be achieved by a better development of the license areas at the disposal of oil-producing companies, active prospecting, introduction of innovative technologies to increase the oil recovery, as well as active oil extraction from unconventional horizons. This article reviews the activities of the oil-producing companies of the Tomsk region for the past 10 years, and proves the potential of increasing oil production of both traditional and difficult-to-obtain oil reserves, concentrated in the Bazhenov and Tyumen Formations and the Lower Jurassic sediments. Technologically, Russia is significantly lagging behind the economically developed countries in the extraction of hard unconventional hydrocarbon resources, primarily, the United States. The observed "shale revolution" was due to the complex of financial and tax breaks for oil companies, from which mainly medium and small companies were benefited. As a result, this requires an increase in investment on the part of economic entities and regional authorities, as well as additional tax benefits, considering the quality and types of actual and prospective raw materials produced in the region, in contrast to the declared benefits in Eastern Siberia. The introduction of tax incentives justified by the authors and the implementation of public-private partnership will ensure the profitability of the development of marginal and difficult-to-obtain oil deposits of the Tomsk region in the long term, which in turn should ensure the stability of economic development of the subject of the Russian Federation.

KW - Difficult reserves

KW - Oil extraction

KW - Tax exemption

KW - Tax on mineral extraction

KW - The Bazhenov Formation

UR - http://www.scopus.com/inward/record.url?scp=84962593559&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84962593559&partnerID=8YFLogxK

U2 - 10.17059/2016-1-15

DO - 10.17059/2016-1-15

M3 - Article

SP - 201

EP - 210

JO - Economy of Region

JF - Economy of Region

SN - 2072-6414

IS - 1

ER -