Published April 2019

New petroleum strategy and management of social-economic problems

G.A. Safarov

Azerbaijan State University of Oil and Industry Oil industry being one of the traditional spheres of Azerbaijan Republic, appeared and developed during a long period and now is on a new stage of growth. Unsatisfactory attention to this field in former Soviet Union over the last years anticipated the depression in oil industry, and the oil production capacity steadily decreased. As a result of poor management of field operation, the changes in technological processes took part, production watercut increased, 2535 % of well stock passed into idling, and cost per unit was consistently rising. The shortcomings in financial-technical support, as well as the management incapability led to the issue deepening. All these aspects created a chain reaction, a sharp increase of high-qualified oil professionals’ turnover, and the necessity of usage of slight share of power from other spheres as well.