INNOVATIONS AS A METHOD OF DEVELOPMENT IN THE PERIOD OF LOW OIL PRICES

Abstract

The author as a member of the Program Committee of SPE Russian Petroleum Technology Conference, held in Moscow, 26-28 October, shares his impressions on discussions, different opinions on the petroleum sector development in today tough times of low oil prices, delivered at the Conference. The key problem discussed at Conference is an acute need in the innovative way of development. This way importance was empha120 sized by all speakers, foreign and Russian. Together with this, the major Russian operators announced about a reduction of the programs aimed at investigations and development of new technologies for oil recovery enhancement and introduction of unconventional resources into development. The opportunities of various Funds and Universities science with regard to development of innovative, breakthrough technologies in the petroleum industry are considered.