ECONOMIC EVALUATION OF TAX POLICY FOR INNOVATIONS AIMED AT INCREASING OIL RECOVERY

Abstract

Resource base in the Russian oil industry determines the need for the development and application of new technologies. The results of the application of innovative technologies are characterized by considerable uncertainty. Aim of this study is to develop a methodology for estimation the tax policy to encourage innovative technologies (taking into account the uncertainty of results of their application). Experience in the application of new technologies in the Russian oil companies analyzed. The developed approach (tools) based on the methods of evaluation of investment projects and the Monte Carlo method. Estimates of the effectiveness of oil projects, taking into account uncertainty in the results of application of innovative technologies, presented. Stimulation of the use of new technologies should be integrated with measures to promote competition and the establishment of mechanisms of orienting the oil companies to the rational development of mineral resources. The state should adopt policies aimed at improving oil recovery, including the tax system that encourages innovation. State should create conditions for stability and protection of the interests of companies that invest in a long process of development and application of new technologies to improve oil recovery. The developed approach can be used during formation and implementation of innovation policy in the oil companies.

Keywords

• инновации
• добыча нефти
• неопределенность
• риск
• методы увеличения нефтеотдачи
• innovation
• oil production
• uncertainty
• risk
• methods of enhanced oil recovery