Long-term sustainable development of oil-producing regions

Research output: Contribution to journalConference articlepeer-review

Abstract

At present, the use of oil and gas as efficient energy sources determines the pace of development not only of the economic system, but also the social sphere. The oil and gas industry occupies a special place in the Russian economy and ensures the life-sustaining activity of the national economic complex and forms a significant part of the budget revenues. The idea of sustainable development comprises the economic efficiency of mineral resources management in a social and environmental perspective. This approach assumes that by the time hydrocarbon reserves would be depleted, the mining area will have sufficient development resources to maintain the current standard of living, which can be realized only with a balanced and well-thought-out state policy on the distribution of rental revenues. The research hypothesis suggests that in conditions of depletion of the mineral and raw materials it is necessary to take special compensation measures for the territory and additional reinvestment of part of revenues from hydrocarbon production in infrastructure projects. The importance of such a policy is particularly relevant for Tomsk Oblast, whose macroeconomic indicators reflect the increasing dependence on the oil and gas industry, which is 27.3% of GRP. At the same time, the share of production industry is about 9.9% of GRP. Investments in the capital assets are mainly directed to the mining sector and show negative dynamics, oil production levels also decreasing. Actual final household consumption per capita is less than 50% of GRP per capita. As a result of research carried out by means of economic and statistical methods, we have analyzed the prospects for the development of Tomsk Oblast due to the depletion of the hydrocarbon resources, as a result of which the exhaustion of renewable resources is predicted in 30 years. Even at present, especially under unstable economic conditions, oil production is low-profit, but in ten years it can become economically unfavorable in the absence of technological breakthroughs in search, exploration and production of mineral resources, which is possible only in the constant economic sectors interaction and development. Thus, the adoption of special incentive measures aimed at expanding the investment potential of other sectors of the economy is an important factor of the economy diversification to maintain sustainable economic development and living standards of the resource-based region population.

Original languageEnglish
Pages (from-to)317-324
Number of pages8
JournalInternational Multidisciplinary Scientific GeoConference Surveying Geology and Mining Ecology Management, SGEM
Volume2020-August
Issue number5.2
DOIs
Publication statusPublished - 2020
Event20th International Multidisciplinary Scientific Geoconference: Ecology, Economics, Education and Legislation, SGEM 2020 - Albena, Bulgaria
Duration: 18 Aug 202024 Aug 2020

Keywords

  • Depletion
  • Hydrocarbons
  • Mining
  • Sustainable development

ASJC Scopus subject areas

  • Geotechnical Engineering and Engineering Geology
  • Geology

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