Published March 2026, Pg. 72-75

Section: Young scientists and specialists

UOT: 544.6

DOI: 10.37474/0365-8554/2026-03-72-75

Analysis of the main factors affecting innovation management mechanisms in the oil and gas industry

A.F. Karimova - Azerbaijan University Economics

This study examines the key factors influencing innovation management mechanisms in Azerbaijan's oil and gas industry. It highlights the role of technological development, organizational structure, human capital, financial resources, and institutional support in shaping innovation effectiveness. 
The analysis shows that while Azerbaijan possesses strong resource potential and international partnerships, challenges such as reliance on traditional production models and regulatory constraints limit innovation outcomes. Strengthening strategic planning, digital transformation, and human resource development is essential for improving innovation management and ensuring long-term competitiveness and sustainability in the sector.

References:

1. Strategic roadmap for digitalization and innovation development in the oil and gas industry. Baku: State Oil Company of the Azerbaijan Republic. SOCAR. 2022.

2. Dutta S., Lanvin B., & Wunsch-Vincent S. Global Innovation Index 2023: Innovation in the face of uncertainty. Geneva: World Intellectual Property Organization (WIPO). 2023.

3. BP Azerbaijan. Innovation and digital transformation in oil and gas operations. Baku: BP Caspian Publications, 2023.

4. Azerbaijan economic update: Innovation, productivity and industrial competitiveness. Washington, DC: World Bank Group. World Bank. 2021.

5. Aliyev N., & Mammadov R. Innovation management in the oil and gas sector of Azerbaijan: Challenges and development prospects // Journal of Energy Economics and Policy, 2020, № 10(4), pp. 112-121.