Published April 2020, Pg. 48-54

Section: Economy, management and law

UOT: 622:338

DOI: 10.37474/0365-8554/2020-4-48-54

Economic efficiency of innovative activity in oil-gas complex

R.S. Mammadova

F.R. Mehdiyev

The paper reveals the concepts and presents the specifications such as the introduction and innovations. The issues of strategy and management of innovative activity are reviewed. The major tasks for providing the steady development of innovative activity in near future are marked. The key points on the reinforcement of the relationships between the science, education, production and the development of management mechanisms for innovative activity are highlighted as well. A special attention is paid to the application of innovative methods in oil production. The paper provides the calculation of economic efficiency in the oil producing enterprises due to the introduction of innovative methods in oil-gas fields’ development. The role of the development, research and embedding of nanotechnologies in oil-gas industry of Azerbaijan and some other countries is shown. The key tasks for the oil production increase and cost decrease are defined.