Published January 2021, Pg. 28-34

Section: Nanotechnologies in oil industry

UOT: 622.279.620.193/.197

DOI: 10.37474/0365-8554/2021-1-28-34

Increase of oil recovery with harmonization of the interests of state and mineral developers

A.Ya. Khavkin Cand. in Tech. Sc. - Russian State University of Oil and Gas named after I.M. Gubkin (National Research University)

Based on the calculation of actual internal rate of return (IRRR) in the investment projects in the context of oil production, it is shown that using IRRR will lead to the reduction of oil production cost, increase of oil recovery and return both for state and mineral developers.

The analysis on the economic evaluation of profitability of investment projects based on IRR and NPV, which force the managers to accept only the projects with high IRR for the guarantee of the actual economic efficiency has been carried out.

It is noted that in some cases the state support of the mineral developer is necessary for his interest in oil production. Therefore, economic evaluation of profitability of development projects should be as accurate as possible. The author emphasizes that IRR criterion provides reliable prediction of actual efficiency of technological solutions and will lead to the wide-scale and active implementation of state-of-the-art technologies in oil-gas sphere, as well as reducing the oil production cost.

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