IMPROVING METHODS FOR EVALUATING OIL AND GAS EXPLORATION EFFICIENCY IN NORTHERN TERRITORIES
The article presents the results of a scientific study that investigates the methodological approach to assessing the efficiency of geological exploration for hard-to-recover (HTR) hydrocarbon reserves. The traditional system of indicators for evaluating the geological and economic efficiency of ex...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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The Russian Academy of Sciences, Federal Research Centre Kola Science Centre
2023-03-01
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| Series: | Север и рынок: формирование экономического порядка |
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| _version_ | 1797860309262663680 |
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| author | Dmitry M. Metkin Oleg V. Zhukov Alexander A. Temnikov |
| author_facet | Dmitry M. Metkin Oleg V. Zhukov Alexander A. Temnikov |
| author_sort | Dmitry M. Metkin |
| collection | DOAJ |
| description | The article presents the results of a scientific study that investigates the methodological approach to assessing
the efficiency of geological exploration for hard-to-recover (HTR) hydrocarbon reserves. The traditional system of indicators for evaluating the geological and economic efficiency of exploration does not fully utilize the geological and geophysical data accumulated and processed as a result of studying HTR reserves. Consequently, the costs incurred by the operator rarely bring the expected positive effect. Using a system of additional indicators for evaluating exploration efficiency will increase the value
of geological data, which in turn will positively impact the efficiency of the development and exploitation of HTR reserves. The scientific novelty of the study lies in the proposed system of additional indicators for evaluating the geological and economic efficiency
of exploration. This system factors in the specific features of HTR reserves located within the northern territories of Russia.
It is recommended for use when assessing the geological and economic efficiency of greenfield exploration projects, as it will allow
for the adjustment of the estimated reserve volumes at various project stages. Since the proportion of proven oil reserves belonging
to the HTR category is high (about 65 %), exploration activities aimed at reserves maturation in the short- and medium-term will play an important role in the country’s oil industry. The reduction in state funding for exploration is another factor that contributes
to the search for new organizational forms and methods of exploration, especially at sites requiring more profound and detailed geological surveys, such as proven and forecast HTR reserves. |
| first_indexed | 2024-04-09T21:43:42Z |
| format | Article |
| id | doaj.art-b32204c77b7b47b5815caa62831b0ef3 |
| institution | Directory Open Access Journal |
| issn | 2220-802X |
| language | English |
| last_indexed | 2024-04-09T21:43:42Z |
| publishDate | 2023-03-01 |
| publisher | The Russian Academy of Sciences, Federal Research Centre Kola Science Centre |
| record_format | Article |
| series | Север и рынок: формирование экономического порядка |
| spelling | doaj.art-b32204c77b7b47b5815caa62831b0ef32023-03-25T12:17:43ZengThe Russian Academy of Sciences, Federal Research Centre Kola Science CentreСевер и рынок: формирование экономического порядка2220-802X2023-03-0126112013210.37614/2220-802X.1.2023.79.008IMPROVING METHODS FOR EVALUATING OIL AND GAS EXPLORATION EFFICIENCY IN NORTHERN TERRITORIESDmitry M. Metkin0https://orcid.org/0000-0001-7905-1502Oleg V. Zhukov1Alexander A. Temnikov2Luzin Institute for Economic Studies of the Kola Science Centre, Russian Academy of Sciences, Apatity, RussiaLuzin Institute for Economic Studies of the Kola Science Centre, Russian Academy of Sciences, Apatity, RussiaSt. Petersburg State University, St. Petersburg, RussiaThe article presents the results of a scientific study that investigates the methodological approach to assessing the efficiency of geological exploration for hard-to-recover (HTR) hydrocarbon reserves. The traditional system of indicators for evaluating the geological and economic efficiency of exploration does not fully utilize the geological and geophysical data accumulated and processed as a result of studying HTR reserves. Consequently, the costs incurred by the operator rarely bring the expected positive effect. Using a system of additional indicators for evaluating exploration efficiency will increase the value of geological data, which in turn will positively impact the efficiency of the development and exploitation of HTR reserves. The scientific novelty of the study lies in the proposed system of additional indicators for evaluating the geological and economic efficiency of exploration. This system factors in the specific features of HTR reserves located within the northern territories of Russia. It is recommended for use when assessing the geological and economic efficiency of greenfield exploration projects, as it will allow for the adjustment of the estimated reserve volumes at various project stages. Since the proportion of proven oil reserves belonging to the HTR category is high (about 65 %), exploration activities aimed at reserves maturation in the short- and medium-term will play an important role in the country’s oil industry. The reduction in state funding for exploration is another factor that contributes to the search for new organizational forms and methods of exploration, especially at sites requiring more profound and detailed geological surveys, such as proven and forecast HTR reserves.geological datageological explorationhard-to-recover hydrocarbon reservesgeological and economic efficiencyexploration efficiency assessment methodsoil and gas projectsnorthern territories |
| spellingShingle | Dmitry M. Metkin Oleg V. Zhukov Alexander A. Temnikov IMPROVING METHODS FOR EVALUATING OIL AND GAS EXPLORATION EFFICIENCY IN NORTHERN TERRITORIES Север и рынок: формирование экономического порядка geological data geological exploration hard-to-recover hydrocarbon reserves geological and economic efficiency exploration efficiency assessment methods oil and gas projects northern territories |
| title | IMPROVING METHODS FOR EVALUATING OIL AND GAS EXPLORATION EFFICIENCY IN NORTHERN TERRITORIES |
| title_full | IMPROVING METHODS FOR EVALUATING OIL AND GAS EXPLORATION EFFICIENCY IN NORTHERN TERRITORIES |
| title_fullStr | IMPROVING METHODS FOR EVALUATING OIL AND GAS EXPLORATION EFFICIENCY IN NORTHERN TERRITORIES |
| title_full_unstemmed | IMPROVING METHODS FOR EVALUATING OIL AND GAS EXPLORATION EFFICIENCY IN NORTHERN TERRITORIES |
| title_short | IMPROVING METHODS FOR EVALUATING OIL AND GAS EXPLORATION EFFICIENCY IN NORTHERN TERRITORIES |
| title_sort | improving methods for evaluating oil and gas exploration efficiency in northern territories |
| topic | geological data geological exploration hard-to-recover hydrocarbon reserves geological and economic efficiency exploration efficiency assessment methods oil and gas projects northern territories |
| work_keys_str_mv | AT dmitrymmetkin improvingmethodsforevaluatingoilandgasexplorationefficiencyinnorthernterritories AT olegvzhukov improvingmethodsforevaluatingoilandgasexplorationefficiencyinnorthernterritories AT alexanderatemnikov improvingmethodsforevaluatingoilandgasexplorationefficiencyinnorthernterritories |