Methodology for the Formation of a New Economic Model for Geological Exploration in Subsoil Use

• Autorzy: Kuzina Elizaveta

Identyfikatory

DOI

10.54740/ros.2021.061

• Języki publikacji: EN

Abstrakty

EN

In modern realities, there is no unified methodology for the economic assessment of geological exploration in subsoil use. The main research question of this study was to develop a methodology for the new economic model formation for assessing geological exploration in the subsoil use for the mineral resource base rational use. The new methodology can facilitate the assessment of subsoil users of hydrocarbon reserves and resources and government bodies when putting resources and reserves on the balance sheet. In the course of the study, modeling, observation, description, and analysis methods were used. The result of the study was a new economic model for evaluating geological exploration in subsoil use. The main conclusions can be characterized by the optimization of the main indicators of the valuation of mineral raw materials. The basic principles for calculating discounted cash flow, discount rate, payback period and internal rate of return were developed.

Słowa kluczowe

EN

methodology; geological exploration; hydrocarbon reserves; hydrocarbon resources; modelling method; cash flow; discount rate; payback period

• Wydawca: Politechnika Koszalińska
• Czasopismo: Rocznik Ochrona Środowiska
• Rocznik: 2021
• Tom: Tom 23
• Strony: 891--901
• Opis fizyczny: Bibliogr. 28 poz., tab.

Twórcy

autor

Kuzina Elizaveta

• Russian Economic University named after G.V. Plekhanov (Scientific Research Institute "New Economics and Business"), Russian Federation

• https://orcid.org/0000-0002-5768-1009

Bibliografia

• Abramov, R., Tronin, S., Brovkin, A., & Pak, K. (2018). Regional features of energy resources extraction in eastern Siberia and the far east. International Journal of Energy Economics and Policy, 8(4), 280-287.
• Abrikosov, I. Kh., Beilin, A. M. (1983). On the methodology of quantitative forecasting of the effectiveness of prospecting and exploration for oil and gas. Geology of Oil and Gas, 12, 44-48. (in Russian)
• Ampilov, Yu. P., Lapo, A. V. (2010). Analysis of geological and economic indicators in assessing the effectiveness of exploration and development of subsoil areas. Mineral Resources of Siberia, 5, 29-34. (in Russian)
• Anashkin, O. S., Rokhlin, S. M. (2015). Integral indicators of economic efficiency in the formation of the raw material base of hydrocarbons in Russia. Subsoil Use XXI Century, 7, 130-136. (in Russian)
• Bochkarev, A. I., Pashkevich, N. V. (1973). On the economic efficiency of geological exploration. In Notes of the Mining Institute, Vol. LXV, Issue 2 (139-142). Leningrad: Leningrad Mining Institute. (in Russian)
• Brenner, M. M. (1979). Economics of oil and gas exploration in the USSR. Moscow: Nedra. (in Russian)
• Emelyanova, N. M., Poroskun, V. I. (2016). Methods of geological and economic evaluation of objects of exploration of oil and gas fields, taking into account uncertainty and risk. Nedropol’zovaniye, 5(62), 190-201. (in Russian)
• Evseenko, V. V. (2018). Increasing the economic efficiency of exploration work based on the concept of company value management (PhD thesis). Saint Petersburg: Saint Petersburg Mining University.
• Haldar, S. K. (2018). Mineral exploration: principles and applications (pp. 54-65). Elsevier. DOI: 10.1016/B978-0-12-814022-2.01001-7
• Hodler, R., Bhattacharyya, S. (2014). Do Natural Resource Revenues Hinder Financial Development? The Role of Political Institutions // World Development. 57, 101-113. DOI: https://doi.org/10.1016/j.worlddev.2014.12.003
• Kuzina, E. S. (2020a). Aspects of financing geological exploration in subsoil use. Journal of Advanced Research in Dynamical and Control Systems, 12(6), 1356-1360. DIO: 10.5373/JARDCS/V12I2/S20201331
• Kuzina, E. S. (2020b). Principles and methods of investing in geological exploration in subsoil use. International Journal of Disaster Recovery and Business Continuity, 11(3), 2808-2817.
• Melekhin, E. S. (2018). Economic aspects of the formation of a system of rational subsoil use in modern conditions. Moscow: Russian State University of Oil and Gas (NIU) named after I. M. Gubkin. (in Russian)
• Melekhin, E. S., Afonina, I. A. (2018). Problems of geological, economic and cost assessment of subsoil use. Microeconomics, 1, 28-30.
• Mikhalchuk, V. (2020). Anti-crisis strategies of geological exploration and oil service companies. Deloitte. Retrieved from: https://www2.deloitte.com/content/dam/Deloitte/ru/Documents/energy-resources/Russian/anti-crisis-strategies.pdf (10-02-2021).
• Novoselov, A. L., Novoselova, I. Yu., & Melekhin, E. S. (2014). Economic assessment of mineral resources taking into account risks and uncertainties. Mineral resources of Russia. Economics and Management, 6, 29-33. (in Russian)
• Sharf, I. V. (2012). Analysis of the oil companies’ performance (on the example of Tomsk Region). Economy of Region/Ekonomika Regiona, 3, 189-196. DOI: 10.17059/2012-3-18.
• Sharf, I. V. (2017). Financial and organizational aspects of the recovery of hydrocarbon resource base in the regional context. Ekonomika Regiona, 13(2), 628-640. DOI: 10.17059/2017-2-26.
• Sharf, I. V., Grinkevich, L. S. (2016). Assessing the extraction potential of Tomsk region’s difficult-to-obtain oil reserves. Ekonomika Regiona, 2(1), 201-210. DOI: 10.17059/2016-1-15.
• Sharf, I. V., Tsibulnikova, M. R., Grinkevich, A. M., & Grinkevich, L. S. (2016). Tax burdens of Russian oil producing companies-comparative analysis. In: The 27th International Business Information Management Association Conference: 37 Proceedings IBIMA, Milano, May 4-5, 2016 (pp. 440-447). Norristown: IBIMA.
• Sharf, I. V., Tsibulnikova, M. R., Ivanova, M. P., & Karpova, E. G. (2018). Formation and distribution of oil and gas revenues. In: Proceedings of the 32nd International Business Information Management Association Conference, IBIMA (pp. 751-761). Retrieved from: https://ibima.org/accepted-paper/formation-and-distribution-of-oil-and-gas-reve-nues/ (10-02-2021).
• Sharf, I., Sokolova, M., Kochetkova, O., & Dmitrieva, N. (2016). Economic tools for realization of methane production project on Kuzbass coal deposits. IOP Conference Series: Earth and Environmental Science, 43(1), 012093). DOI: 10.1088/1755-1315/43/1/012093
• Sharf, I., Sundetov, M., Shenderova, I., & Grinkevich, L. (2016). Financial aspects of technological concept for energy efficiency enhancement during stripper wells development in Tomsk region. IOP Conference Series: Earth and Environmental Science, 43(11), 012084. DOI: 10.1088/1755-1315/43/1/012084.
• Swierzbinski, J. (2013) Economics of Exploration for and Production of Exhaustible Resources. Encyclopedia of Energy, Natural Resource, and Environmental Economics, 2, 1-9.
• Trofimov, D. M., Shuvaeva, M. K., Chistyakova, K. V., Naumov, K. K., Feofilov, S. A., Shabalin, N. Y., ... & Uspenskii, B. V. (2017). Geological expediency for inclusion of the "easy" methods complex into the geological exploration for oil and gas. Georesursy, 19(2), 97-102. DOI: 10.18599/grs.19.2.2 (in Russian)
• Vasiliev, Yu. N. et al. (2015). Modern economic problems of the development of the mineral resource complex. Moscow: Gornaya Kniga. (in Russian)
• Volovich, V. N. (2013). Ways and forms of rational use of natural resources in conditions of intensification of social production. Obshchestvo. Sreda. Razvitiye (Terra Humana), 3(28), 20-24. (in Russian)
• Voskresenskaya, E. V., Vorona-Slivinskaya, L. G., Snetkov, V., & Tebryaev, A. (2019). Ecological and legal regulation of geological survey, exploration and extraction of minerals during construction. E3S Web of Conferences, 91, 08013. DOI: 10.1051/e3sconf/20199108013