Risk management capabilities in the extraction of sea hydrocarbons in the Arctic region

• Published in: Scientific Papers of Silesian University of Technology. Organization and Management Series
• Main Authors: Tsvetkova, Anna, Fadeev, Alexey, Cherepovitsyn, Alexey, Ivanov, Igor
• Format: Article in Journal/Newspaper
• Language: English
• Published: Politechnika Śląska. Wydawnictwo Politechniki Śląskiej 2020
• Subjects: geo; scipo; Arctic
• Online Access: https://doi.org/10.29119/1641-3466.2020.145.40; https://bibliotekanauki.pl/articles/1883380.pdf; https://bibliotekanauki.pl/articles/1883380

Purpose: The article discusses the range of economic approaches to risk management in the implementation of projects for the development of offshore hydrocarbon deposits. Design/methodology/approach: The article utilizes methods and tools of systemic, situational and strategic analysis, expert assessments, as well as methods for evaluating investment projects. Findings: Within the work, the main risks at the stages of project implementation and formulated proposals for their levelling were analysed. Originality/value: To create competitive conditions for the development of offshore fields, we have identified the main risks arising from the realisation of oil and gas projects, and evaluated their impact on the economic efficiency of projects. This scientific work includes an analysis of investment costs in the development of offshore oil and gas fields in different climatic conditions. This article also discusses the issues of industrial safety and environmental protection in the development of offshore fields.