Scholarly record

ECONOMIC AND INSTITUTIONAL PROBLEMS OF THE RUSSIAN OIL AND GAS COMPLEX DIGITAL TRANSFORMATION

Elena Katysheva

Abstract

Currently, the depletion of traditional oil and gas reserves makes it necessary to develop hard-to-recover reserves, develop and apply new technologies for hydrocarbon exploration and production in hard-to-reach areas of Eastern Siberia and on the Arctic shelf. Solving these problems calls for intensifying the implementation of information technologies in the oil and gas complex. The article states that, at present, an intensive digital transformation is taking place in the oil and gas complex of Russia. Companies are mastering a number of key technologies to determine their competitive advantage in years to come. The introduction of digital technologies is a tool to improve the economic efficiency of the oil and gas fields development. Informational technologies allow the production cost optimization as well as improvements of workflow, logistics and financial operations efficiency. The assessment of the impact of digital transformation on the Russian oil and gas complex development is given in the article. Examples of the successful use of IT solutions by domestic oil and gas companies have been provided. Economic and institutional challenges that impede the digital transformation of the oil and gas complex have been identified.

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