FEATURES OF RISK MANAGEMENT IN THE IMPLEMENTATION OF INNOVATIVE AND INVESTMENT PROJECTS IN OIL INDUSTRY

This paper presents special methods and approaches for the development and implementation of innovation and investment projects (IIPs) in the oil and gas sector, including comprehensive analysis and risk management. The authors have significantly deepened and systematized the conceptual apparatus devoted to the issues of project risk management in the context of the formation of IIPs in the oil market, and propose their own definition of an innovation and investment project in oil production. The main attention is paid to the formation of the classification of the framework type of innovation and investment projects taking into account the peculiarities of oil production enterprises. The classification of the framework type in the oil production industry is based on complex accounting and considers investment in the sphere of innovative production and the level of autonomy, taking into account the linkage to information and financial resources of vertically integrated oil companies. Based on the proposed criterion of autonomy, four types of IIPs are identified, namely: innovation and investment projects of vertically integrated oil companies; diversified IIPs; projects implemented by clusters; projects implemented independently. Project risks are systematized according to the criteria of correlation to the type and sphere of activity, risk factors are ranked according to their weight for the customer-investor, the level of impact of each factor on the performance of innovation and investment projects is determined. In order to create a corporate risk management system aimed at efficient and effective implementation of the IIP, a comparative analysis of the dominant approaches in oil production is carried out: process, situational and system-integrated or integrated approach. The system of risk management in JSC “Oil Company “Neftisa” based on the integrated COSO model is proposed. Based on the in-depth and comprehensive, complex analysis of the IIP risk factors, the authors conclude that the early identification and assessment of possible risks in the pre-investment phase allows to develop the most appropriate strategies for their mitigation or minimization, while achieving the planned efficiency of the IIP.

innovation and investment projects, manage- ment and implementation tools, integrated COSO model, oil production companies, industry specifics, basic approaches, framework classification, risk factors, life cycle stages

Mitulinsky V. V., Saksin A. G., Vesnin A. A., Turchin E. I. Features of risk management in the implementation of innovative and investment projects in oil industry. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2025;1(70):145—152. DOI: 10.25683/VOLBI.2025.70.1243. Введение Актуальность. В статье формирую