Oil and gas service in the structure of the oil and gas industry as a necessary resource to increase the investment attractiveness of the oil and gas industry
The relevance of the topic under consideration lies in the relationship and interdependence of oil and gas companies and oilfield service companies. Due to the increasing barriers in the industry, the OPEC+ deal, decarbonization plans, reduction of capital expenditures, the fall in the ruble exchange rate, the global imposition of sanctions on the oil and gas industry, including the import of high-tech equipment for oilfield services, all this together hinders the recovery of the oilfield services market in the coming years. According to experts, the market growth will be slow and is planned in the medium and long term for 10-20 years. In modern financial conditions, the oil and gas producing and refining industries that are part of the fuel and energy complex are the basis for the development of the economy of the Russian Federation. This article considers the oil and gas service as one of the necessary resources included in the structure of the oil and gas complex and standing on a par with oil and gas production. The authors pay special attention to both vertically integrated enterprises (part of large oil and gas companies) and independent ones providing services for the smooth operation of the oil and gas industry. The leaders of Russian oilfield service companies in the fuel and energy complex by types of work performed are identified. The main volumes of work in terms of value are considered. In conclusion, attention is drawn to the main problems of the industry, which is under constant pressure from Western sanctions in difficult economic and geopolitical conditions of functioning in the market, and brief recommendations are given for the further development of the Russian oilfield services market. The oil and gas industry fully meets not only domestic needs for oil and gas, but also exports of a significant amount of them, thereby ensuring replenishment of the budget of the Russian Federation. The share of oil and gas revenues in the budget of the Russian Federation in different periods of time ranged from 36 % to 51 %. Only proven oil reserves on the territory of the Russian Federation account for 6 % of world reserves, the share of production in the world is 12 %, and Russia occupies the 3rd position in the World Ranking after Saudi Arabia and the United States. However, it is worth noting that US companies specialize mainly in the production of shale oil, which has a high cost and complexity of production, therefore, in the price struggle, US oil is inferior to our traditional oil. As for the other main energy carrier - gas, Russia occupies a leading position in this area (2nd place in production and 1st place in terms of world exports). The top five leaders of the Russian oil and gas industry include companies: Gazprom, Rosneft, Lukoil, Surgutneftegaz, Tatneft, Gazprom-Neft. Their competitiveness on the world market directly depends on the quality of service work performed in the oil and gas industry, and this, in turn, is achievable only with the use of innovative technologies offered by service enterprises and research organizations. The main purpose of this article is to highlight the place and role of leading oilfield service companies in the structure of the Russian oil and gas industry as a necessary tool to increase the investment attractiveness of the oilfield services market industry. Consider the functioning of leading companies in this industry and the types of services offered in difficult conditions of the most severe economic and financial sanctions. In conclusion, it is worth highlighting the problems of the industry and recommendations for supporting the oilfield services market in an unstable geopolitical situation.