Problems of small and junior business in the oil and gas industry of the Russia. Part 2. Development options

Abstract

Based on the empirical study conducted in the first part of this article, a description of the problems hindering the development of small and junior business in Russia is described; the steps to move this process off the ground are given. The following mechanisms are proposed: a multiple reduction in the cost of exploratory drilling; regulation of the circulation of geological information to create a market for multi-client geophysical and geochemical services; active involvement of small businesses in exploration by regular licensing rounds. The mechanisms are embedded in the system with the creation of pilot sites that are geographically and geologically fixed in the zones of the petroleum bearing areas with developed infrastructure and with well-known geological conditions for well drilling.