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ECO journal (ECOnomics and industrial Engineering)

2018 year, number 10

The Way to Attract Investment in the Oil Exploration Activities

A. V. Sokolov
Keywords: восстановление минерально-сырьевой базы, геологоразведочные работы, запасы нефти, нефтепоисковые работы, геологическое изучение недр, Restoration of the mineral and raw materials base, explorations work subsoil, oil reserves, oil exploration, geological exploration


The article focuses on the urgent problem of attracting the private investmentto oil explorations. The author having long-term CEO experience in exploration company examines the potential increase of investigation activity for the three main groups on the national subsoil usage market - government, large vertically integrated corporations and independent exploration companies. As he suppose the independent companies have the greatest potential to increase search activity, but thecurrent regulating arrangements relating the restoration of the mineral resources doesnot contribute to the investment attractiveness of prospecting. The article proposes some specific measures to motivate the independent investors and attract venture capital in oil exploration.