RISK MANAGEMENT ISSUES IN OIL AND GAS INDUSTRY

Abstract

Article outlines the issues of risk analysis that arise during the construction of exploration wells, and in today's economic situation, these issues are relevant. The main risks at the stage from the study of geological information about territory to calculation of reserves in high categories, which must be taken into account when analyzing the effectiveness of geological exploration work, are systematizing. In accordance with concept of Industry 5.0 authors propose the use of corporate-technological model of risk management in enterprise, which includes the influence of both technological and human factors. A point-rating system for criteria-based assessment of elements of risk management system is proposed in order to assess the effectiveness of risk management system. The main most significant risks that have the maximum impact on economic efficiency of oil and gas exploration are identified. Results of assessing the effectiveness of risk management system are shown using the example of oil and gas companies. Highrisk areas are indicated, which will make it possible to take preventive measures in timely manner and prevent emergency situations. In general, this will allow achieving strategic goals and achieving significant economic results.