On top-priority measures to improve the investment attractiveness of oil prospecting in energy transition

Abstract

The country needs new, profitable «here and now» reserves that can slow the rate of oil production decline. In this regard, the subsoil manager urgently needs to take fundamental measures to raise investment in oil prospecting and to speed up the process. All hopes rest upon independent investors who have potential to accelerate and increase prospecting activity. In order to stimulate oil prospecting, the subsoil manager needs to take several steps towards independent investors.

Keywords

• oil prospecting
• exploration
• independent investors
• energy transition
• profitable reserves
• investments
• oil production
• classification of oil and combustible gas reserves and resources