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On the formation of the Russian oilfield services industry

UDK: 334.75(73):622.276
DOI: 10.24887/0028-2448-2019-5-34-37
Key words: the oilfield services market, an international oilfield services company, an operating model, classification of oilfield service companies, hard-to-recover reserves, non-core assets, reforming
Authors: V.L. Ulanov (National Research University Higher School of Economics, RF, Moscow), K.A. Simonov (National Research University Higher School of Economics, RF, Moscow; Schlumberger, RF, Moscow)

The article considers the Russian oilfield services market formation process, structure and mechanism of operational activities of the main Russian and international market players. The prerequisites of the Russian oilfield services market formation have laid the foundation for the interaction among energy and oilfield service companies on the Russian oil and gas market. The resulting operational model is conceptually different from the approaches of interaction among energy and oilfield services companies in other developed and emerging markets. The peculiarities of interaction of national energy and international oilfield services companies in the Russian market are revealed, advantages and disadvantages of cooperation models are outlined. Examples of different countries and markets set out alternative approaches for the energy and international oilfield service companies interaction in terms of the types of work, the depth of outsourcing of oilfield services. Against the backdrop of various oilfield service market and oilfield service companies classifications existence, an additional classification of oilfield services companies in the world and Russian markets is proposed, according to the operating model type, which correlates with current trends in a dynamically developing market. The main goals and tasks set by the state within the framework of the "Energy Strategy of the Russian Federation - 2035" project in front of the national oil and gas industry are illustrated, the main one of which is the intensification of extraction of hard-to-recover oil and gas reserves. The fulfillment of this task requires from energy companies modern technological solutions that the leaders of the oilfield service market have. In this regard, the concept of service integration as an effective solution to the problem of extracting hard-to-recover oil and gas reserves was proposed. Conditions under which the concept of oilfield services integration brings maximum efficiency is considered, as well as the advantages and risks of this type of operational interaction among key players in the oil and gas industry.

References

1. Tuktarov S.R., Bol'shakova O.I., The state and prospects of development of oilfield services market in Russia (In Russ.), Vestnik universiteta, 2016, no. 12, pp. 32–37.

2. Shafranik Yu.K., Kryukov V.A., Neftegazovyy sektor Rossii: trudnyy put' k mnogoobraziyu (Russia's oil and gas sector: the difficult path to diversity), Moscow: Pero Publ., 2016, 272 p.

3. Klimovich K.P., Odintsova M.A., Problems and prospects of Russian machine-building complex in a market economy (In Russ.), Ekonomicheskiy zhurnal, 2016, pp. 16–27.

4. Kozenyasheva M., World experience and features of the formation of oil and gas service in Russia (In Russ.), Neftegazovaya vertikal', 2017, no. 2.

5. Kraynova E.A., Kuznetsov A.V., Assessment of the competitiveness potential of the Russian market of geophysical services (In Russ.), Zapiski Gornogo instituta, 2013, no. 1, pp. 185–190.

6. Pavlushina E., Kamyshnikov G., Sostoyanie i perspektivy razvitiya nefteservisnogo rynka Rossii (The state and prospects of development of oilfield services market of Russia), Deloitte, 2016, URL: https://www2.deloitte.com/ru/ru/ pages/energy-and-resources/articles/2016/oilservice-market-in-russia-2016.html.

7. Shafranik Yu.K., Losing oil service - destroying the economy (In Russ.), Neft' Rossii, 2016, URL: http://www.oilru.com/news/375102/

8. Schlumberger Annual report 2016. – М.: Schlumberger Annual report, 2017.


The article considers the Russian oilfield services market formation process, structure and mechanism of operational activities of the main Russian and international market players. The prerequisites of the Russian oilfield services market formation have laid the foundation for the interaction among energy and oilfield service companies on the Russian oil and gas market. The resulting operational model is conceptually different from the approaches of interaction among energy and oilfield services companies in other developed and emerging markets. The peculiarities of interaction of national energy and international oilfield services companies in the Russian market are revealed, advantages and disadvantages of cooperation models are outlined. Examples of different countries and markets set out alternative approaches for the energy and international oilfield service companies interaction in terms of the types of work, the depth of outsourcing of oilfield services. Against the backdrop of various oilfield service market and oilfield service companies classifications existence, an additional classification of oilfield services companies in the world and Russian markets is proposed, according to the operating model type, which correlates with current trends in a dynamically developing market. The main goals and tasks set by the state within the framework of the "Energy Strategy of the Russian Federation - 2035" project in front of the national oil and gas industry are illustrated, the main one of which is the intensification of extraction of hard-to-recover oil and gas reserves. The fulfillment of this task requires from energy companies modern technological solutions that the leaders of the oilfield service market have. In this regard, the concept of service integration as an effective solution to the problem of extracting hard-to-recover oil and gas reserves was proposed. Conditions under which the concept of oilfield services integration brings maximum efficiency is considered, as well as the advantages and risks of this type of operational interaction among key players in the oil and gas industry.

References

1. Tuktarov S.R., Bol'shakova O.I., The state and prospects of development of oilfield services market in Russia (In Russ.), Vestnik universiteta, 2016, no. 12, pp. 32–37.

2. Shafranik Yu.K., Kryukov V.A., Neftegazovyy sektor Rossii: trudnyy put' k mnogoobraziyu (Russia's oil and gas sector: the difficult path to diversity), Moscow: Pero Publ., 2016, 272 p.

3. Klimovich K.P., Odintsova M.A., Problems and prospects of Russian machine-building complex in a market economy (In Russ.), Ekonomicheskiy zhurnal, 2016, pp. 16–27.

4. Kozenyasheva M., World experience and features of the formation of oil and gas service in Russia (In Russ.), Neftegazovaya vertikal', 2017, no. 2.

5. Kraynova E.A., Kuznetsov A.V., Assessment of the competitiveness potential of the Russian market of geophysical services (In Russ.), Zapiski Gornogo instituta, 2013, no. 1, pp. 185–190.

6. Pavlushina E., Kamyshnikov G., Sostoyanie i perspektivy razvitiya nefteservisnogo rynka Rossii (The state and prospects of development of oilfield services market of Russia), Deloitte, 2016, URL: https://www2.deloitte.com/ru/ru/ pages/energy-and-resources/articles/2016/oilservice-market-in-russia-2016.html.

7. Shafranik Yu.K., Losing oil service - destroying the economy (In Russ.), Neft' Rossii, 2016, URL: http://www.oilru.com/news/375102/

8. Schlumberger Annual report 2016. – М.: Schlumberger Annual report, 2017.




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