Innovative technologies of oil production: challenges of legal regulation of cross-border economic management

The article explains the causality of the need to intellectualize the basic factors of production in the oil industry at the present stage of economic development and modernization of Russian economic structure. The direct dependence of the Russian Federation on the volume of extracted raw materials and solutions to different issues relating to the delimitation of powers in the sphere of possession, use and disposal of natural oil and gas resources is considered in the article in the context of the proclaimed by country's authorities policy on innovations, high technology and nanotechnology. The introduction of innovative technologies into the production of hydrocarbons is studied as a priority component of the overall modernization of the Russian economy. The author studies the corresponding tasks of the Russian oil industry, consisting of large, vertically integrated oil companies. The article describes the ways of finding reasonable, economically adequate legal foundations of effective mining, which are directly dependent on the innovative technologies satisfying the social, economic and political ambitions of the state and allowing to deal with the problem of natural resources limitedness.