February 2008

In his speech Petr Latyshev stressed the importance of petroleum industry for development of Russia, and underlined that the petroleum branch  forms up more than 20% of the country’s GDP. At that, two thirds of Russian oil is stably produced in the Ural Federal district, to be exact, in Western Siberia – Khanty-Mansy and Yamalo-Nenets Autonomous Districts. Successful functioning of extractive enterprises is the base for implementation of social programs and priority national projects in the country, provision of conditions for transferring of the economy to innovative course of development.  In this connection the problem of raising efficiency of using mineral resources base of hydrocarbons and growth of oil production rates becomes very acute nowadays. That is why it was the capital of Khanty-Mansy Autonomous District that hosted the conference. Not only the major part of Russian oil is produced here, but the area has the experience enabling people not to level oil production down. At that the potentials of extensive factors of growth are in many aspects exhausted. Nevertheless, there are no preconditions for substantial drop in production yet.

Lately it was noted that investment activity of extractive enterprises has grown substantially. The demand for increasing oil production amounts results in the fact that the companies start building up the volumes of production drilling. In 2007 the quantity of commissioned production wells exceeded that of  2006 by 14.1%. Financing of exploration works is growing at the expense of the companies-subsoil users. In 2007 the amount of these works grew by more than 30%. Taking into consideration the fact that the effect of investments has deferred nature, the impact of the growth of investments over production output is to be expected in the mid-term. All the more, the production potential is still immense. Thus, having revealed and eliminated the principal of the existing limitations one can achieve substantial growth of oil production rates, says the press-service of the authorized representative.

As the conclusion Mr. Latyshev reminded that at the extended session of the State Soviet of February 8, 2008 Vladimir Putin introduced the strategy of innovative development of the country. Speaking of innovations, it must be noted that this sphere is directly connected with oil production complex as well. Innovations mean not only withdrawal from raw-material-oriented economy, but also innovative methods of management and production in efficiently working branches, including oil production branch.