Summary of Working Paper No. 130-1999
III.07.7
This report is a natural continuation of previous work carried out within the
framework of INSROP (See Working Paper No. 56
In this report, approaches to identification of conditions under which the
implementation of the energy potential of North-West Siberia can be efficient are
considered in the case of different types of exemplary individual hydrocarbon
fields.
The objective of the present subproject is to identify possible taxation
schemes under which oil and gas projects will be implemented, and define bounds
within which their parameters may vary without loss of profitability in the
development of hydrocarbons on the YaNAO fields close to the NSR catchment area.
The most general conclusion made in the study is that implementation of the
energy potential in North-West Siberia requires that the present paradigm of
state regulation of the oil and gas sector in Russia be changed. It is necessary to
give up the inflexible fiscal pattern of taxation which although aimed to
enhance total tax payments and levies is based mainly on the taxation of gross
income.
The changed paradigm of state regulation will permit the creation of an
attractive investment climate in the oil and gas sector and provide not only an
inflow of investments but also employment of new and more effective technologies for
search, exploration and production of energy resources.
The proposed methods permit, at the stage of preliminary evaluation of the
energy, an estimation of the economic efficiency (expedience) of its economic
development. The general conclusions are as follows:
On the whole, development and bringing into operation of hydrocarbon resource
fields in North-West Siberia require a well-coordinated federal and regional
policy in the Russian Federation. It is also necessary to give up as soon as
possible the policy of fiscal regulation of the oil and gas sector which appeared
in the period of economic crisis and to switch to a flexible policy stimulating
the development of hydrocarbon resources.
the potential of large and average gas fields in North-West Siberia can be
efficiently realized within the framework of the existing systems of land
trunklines (in a southern direction);
the potential of the average gas and almost all oil fields can be developed
only in a high price (favorable) situation on probable hydrocarbons markets and
in combination with measures of target state regulation.