Application of geology-economic indicators for formation of lists of sites of subsoilsas prospectively oil and gas-bearing offered as provided for use (by example of Tomsk region)

Investors interest in minimization of risk of inefficientfinancial investments predetermines the necessity of careful estimation of expediency of acquisition of licenses. One of the basiccriteria of estimation of the efficiency of activity of the Federal Agency on Subsoil Use and its territorial bodies is the relation of quantityof the auctions and competitions conducted to the quantity of the objects which are subject to distribution on the competitive (auction)basis, provided and confirmed by the list. The necessity of preparation of offers for making amendments to the Methodological231recommendations on the order of formation of lists of objects offered for use, is caused by the need of search of balance of interests ofthe state and the investor. The major criterion of efficiency of realization of licensing programs is the parity of expenses and results, i.e.the site, being an elementary particle of subsoil licensing programs, first of all, is considered as an investment project. In this connection,the potential investment appeal of the site should be estimated before the object enters the list. It is necessary to make conclusionsabout the investment appeal of the site not only on the basis of geology-economic estimation of the object, but also taking into accountthe current potential possibilities of the investor. Geological information and the condition of research of objects offered for distributionwith potential resources are poor, which makes trustworthy geology-economic estimation of the site practically impossible. However, inthe world practice there are a number of indicators for express estimations of behaviour of the company when choosing objects for carryingout exploration work taking into account current economic conditions. The most common methods define the sizes of reserves ofthe minimum-profitable deposit: the estimation of its minimum-profitable extracted resources by the cash stream; the estimation of isminimum-profitable extracted resources by the profitability index; the estimation of is minimum-profitable extracted resources by themaximum discounted rate, etc. Formation of the list of the objects offered for distribution is one of the major stages of realization oflicensing programs. The analysis of results of realization of licensing programs in subjects of the Russian Federation proves the necessityof making amendments to the Methodological recommendations on the order of formation of lists of objects offered for use, regardingthe preliminary geology-economic estimation of a site. Application of express estimation based on the statistical analysis of the activityof extracting companies in certain subjects allows predicting the position of investors when choosing the object for explorationwork taking into account current economic conditions.

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