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The chapter considers the significance of the oil and gas industry for the Russian economy. The authors analyze the current state of the oil and gas industry, their specific weight in the structure of Russian GDP, and tax revenues from this industry to the Russian budget that was estimated. We give scenario analysis that considers the problems that the Russian economy may face because of the sanctions, the price fluctuations at the commodity market, and the crisis phenomena in the world economy. The chapter points out that localization of technology production and development of technologies for offshore oil and gas production in the Arctic zone may become an incentive to further ensure import substitution for Russia. At present, the experience of Arctic defense enterprises in the production of equipment for oil and gas production and processing is becoming increasingly popular. The chapter elaborates the most significant examples of the creation of new industries in the Arctic zone, the prospects of seismic exploration on the Arctic shelf, and that localization of production capacities and service bases will allow obtaining a multiplicative incentive for a qualitatively new industrial and infrastructure development of the northern territories. Also, we provide an assessment of the development of liquefied natural gas (LNG) industry, which makes economically attractive use of natural gas on a regional level as LNG opens the way to fuel high-power needs and to long-distance transport.

The aim of this paper is to provide a general overview of the global oil and natural gas resources, production, technology development, energy use, emissions and costs. The activity is based on the European project “Risk of Energy Availability: Common Corridors for Europe Supply Security” (REACCESS) and the data collected was used in this project as an input to evaluate the technical, economical and environmental characteristics of the energy corridors to European Union (EU).

The paper is based on literature reviews and data collection from national authorities, oil companies, international associations and international organisations.

The work provides a general overview of oil and natural gas resources, production rates, recent technology developments, costs, losses, energy consumption and emissions on a world regional level. Main issues related to the role of conventional oil and natural gas in the energy import framework are summarised in this paper.

The present study provides information on conventional oil and natural gas resources and it is limited to primary production technologies.

An outline of oil and natural gas on a regional level is presented. The paper provides general introduction to the subject and it is a valuable input for modelling and analyses of conventional oil and natural gas in the present and in the future energy system.

This proposed research study aims to focus on the development and implementation of a new safety and health educational management information system (hazard-free production operation [HAZ-PRO]) based on effective hazards controlling factors and mitigating measures for safe onshore and offshore oil and gas drilling operation in Saudi Arabian, Malaysian and Pakistani industries. According to previous studies, there is a sheer industrial need of an effective management information system for decision-making to prevent life-threatening accidents at oil and gas production sites based on innovative hazard controlling strategies from different production origins. Similarly, that safety and health management information system will also enhance the decision-making skills of oil and gas production crew through effective accident prevention strategies.

In this study, 100 drilling crew are randomly selected for quantitative research phase. Similarly, 3 safety experts are purposively selected for qualitative research from each drilling domain from Saudi Arabia, Malaysia and Pakistan, whereas for the identification of hazard controlling measures, what-if analysis and thematic analysis approaches are adopted. Furthermore, the educational management information system (HAZ-PRO) for safety and health has been developed by using ADDIE Model based. Whereas, Visual Studio (2017) and MySQL software are used for the database and user interface development of the safety and health management information system for the safety and health of production crew.

This study proposes the research framework for the development and implementation of a new safety and health educational management information system (HAZ-PRO) based on identified effective hazard controls and mitigating measures in support of accident prevention and effective decision-making in hazardous events at Saudi Arabian and Pakistani onshore and offshore production domains. Whereas, this proposed safety and health management information system will assist and facilitate the safety professionals and production crew to prevent the injuries in hazardous work environments of onshore and offshore oil and gas industries according to international safety standards.

This safety and health management information system can be utilized by oil and gas industries (oil and gas production crew) in Saudi Arabia, Malaysia and Pakistan for accident prevention and suitable decision-making prior to the actual onshore and offshore operations. Also, the proposed system development framework will be useful as an effective source for the elimination of life-threatening drilling hazards associated with its activities in oil and gas industries. Similarly, the proposed framework can also be implemented in other oil and gas work-based accident prevention and effective decision-making designs.

This proposed safety and health management information system will be the first system for oil and gas production operation that covers all onshore and offshore operations for Saudi Arabian, Malaysian and Pakistani oil and gas industrial settings. Also, the system development methodology and design framework, which will be used, is novel and unique based on their characteristics and functionalities.

We examine the link between oil production and bank deposits in North Dakota’s Bakken oil formation. We find that oil production is positively related to bank deposits, even in the presence of gas production, farm production, the level of interest rates, and the term premium of interest rates. The effect is significant even when we “purge” the effect of the other variables from oil production, which indicates a strong relationship between oil production and bank deposits.

This paper seeks to explore the factors behind the slow growth of economies with abundant oil and gas resources, despite the opportunities these resources potentially represent.

The building blocks of standard economic growth models and the implication of natural resource utilisation is the methodological and analytical approach adopted. A qualitative analysis of the impact of oil and gas activities on the growth of the Nigerian economy is carried out using relevant macroeconomic indicators.

The oil and gas sector is imbued with enormous linkage potentials that can stimulate other sectors to generate endogenous growth. Emphasis on the extraction and export of oil and gas subverts technological progress, stifles the revenue earning potential of the economy and stultifies the effectiveness of factors of production, thereby retarding economic growth.

Data on technological input into oil and gas activities could not be obtained, but the changing pattern of productive capacity, especially in the downstream sub‐sector, is used as a measure of technological change.

Oil‐ and gas‐abundant economies can exploit potential comparative advantage by creating favourable conditions in value‐adding oil and gas activities. Through spill‐over effects a wide range of economic activities evolves, with concomitant market expansions. Positive externalities for learning‐by‐doing arising from this process can lead to endogenous technological progress to drive sustainable economic growth.

The findings show that rather than reliance on foreign exchange revenues from oil and gas, creating the appropriate conditions for the effective domestic utilisation of oil and gas resources to bolster inter‐sectoral linkages is a more virile strategy for oil‐and‐gas driven economic growth.

This chapter examines the oil and gas industry and the efficacy of vertical integration strategies. Using multiple theoretical lenses ranging from the resource-based view, transactions costs, and parenting perspective, the chapter considers different arguments associated with vertical integration. The 2011 breakup of ConocoPhillips and its global value chain helps address the question of which strategy is best – integrated or nonintegrated. We provide several conclusions about the structure of integration and value chains within the oil and gas industry. First, vertical integration based on the physical transfer of products between value chain activities will generate little firm advantage in the form of classical integration benefits, such as control over input quality or speed to market. Second, competing across the industry value chain as a hedge or strategy against industry cyclicality is not theoretically defensible. Third, pure play industry specialists can create value through management focus, agility, and, transparency for investors. Fourth, firms that compete across a wide range of industry value chain activities can create value-adding corporate strategies if they are able to leverage knowledge and assets across different industry sectors.

Lean approach has overcome the boundaries of the automotive and manufacturing industry and has achieved many different sectors of the economy, including services. In this context, this paper aims to investigate the applicability of value stream mapping (VSM) tool in processes of the oil and gas chain. Also, this paper investigates if there is a specific framework currently being used by organizations belonging to this chain to map the value stream of its processes.

A detailed systematic review of the literature is done by using a set of relevant keywords based on peer-reviewed journal articles and conference papers available in the Scopus database, analyzing data from 2012 to 2017. Content analysis methodology involving a four-step process (identification, screening, eligibility and inclusion) suggested by Moher et al. (2009) was adopted for this study.

The number of studies in literature on VSM applicability to the oil and gas chain processes is low when compared to studies regarding the application of lean tools and methods in general in this area. Also, there is no specific framework that has been used by the oil and gas chain companies to carry out the VSM, which is a research gap that can be further explored.

Sample size for this research consists of 42 studies, thereby limiting the generalizability of the research studies. However, the analysis presented in this paper was based only on Scopus database, which is a remarkable and broad base, which provided robustness to the data found.

Practicing managers of oil and gas chain who are planning to transform their processes can use the VSM for it. Researchers can explore the research gap found in this study and develop a specific framework to implement VSM in the oil and gas chain processes.

This is the first paper to evaluate the VSM tool applicability to the oil and gas chain processes based on an systematic literature review and understand if this is possible and if there is a specific framework to carry out this task.