MECHANISMS FOR REDUCING TECHNOLOGICAL RISKS OF OIL AND GAS COMPANIES TO IMPROVE ENVIRONMENTAL SAFETY IN THE ARCTIC REGION

• Published in: Север и рынок: формирование экономического порядка
• Main Authors: Aleksander A. Ilinskiy, Ishel Ester Bianco
• Format: Article in Journal/Newspaper
• Language: English; Russian
• Published: The Russian Academy of Sciences, Federal Research Centre Kola Science Centre 2021
• Subjects: arctic passage technology; monitoring technology in the arctic; arctic; arctic passage; ecological safety in the arctic passage. effective sensors. risk reduction; smart fields; smart wells. value creation; value creation for oil & gas; sustainability in the arctic; Social Sciences; H; Arctic; Climate change
• Online Access: https://doi.org/10.37614/2220-802X.1.2021.71.001; https://doaj.org/article/d4b7283d29e14ece8c1f32ec5af99123

The main driver of the development of the Arctic zone of the Russian Federation is the industrial development of the mineral resource base of minerals. The projected resources of the Arctic Shelf should be considered as a huge mineral resource potential of the oil and gas complex of the Russian economy in the long term. The scientific justification of critical technologies of oil and gas development in the Arctic and the Arctic sea shelf should include an assessment of the environmental consequences in the Arctic region. Climate change has removed large quantities of ice and has removed impediments to Arctic sea navigation and in doing so has opened up a new route. Most of these ice-free routes can be used for navigation including oil and gas logistics and transportation, and reducing transit by more than 5000 nautical miles. While these events allow for a widening of transportation routes but many challenges naturally inherent to the Arctic are still present, for example, the risk of possible oil spills in the very sensitive ecosystem and the safety risks to crew and equipment. New Technology offers more thorough ways to minimize and manage this risk and to preserve the integrity of ecosystems, safety of people and the profits of companies where operations are more cost sensitive and difficult than in other regions of the world. This paper proposes one model of risk reduction and evaluates the best ways to reduce ecological and safety risks of oil and gas companies operating in the Arctic route. It also proposes methods to incorporate digital value into the organization through four sectors, Sustainability, Efficiency, Accountability and Profitability.