Development of the Russian oil and gas industry in the context of international economic sanctions

The article discusses the main characteristics of the Russian oil and gas industry in the context of international economic sanctions, and also shows the prospects for global demand for oil. Taking into account the strategy for the development of the energy complex, the possibility of maintaining the target levels of oil production in Russia for the period up to 2030 is assessed. Particular attention is drawn to the expediency of using tax incentives by the state for the operation of enterprises with reserves difficult to recover. Feasible approaches to maintaining the level of oil production in the traditional depleted oil reservoirs of Russia are shown. In this area, the key task is to make full use of proven enhanced oil recovery methods. In the light of import substitution, it is proposed to pay serious attention to the creation of Russian service companies that provide the technological process of oil production. The conducted analysis and corresponding assessments allow to propose for consideration by specialists a number of real directions for stabilizing the development of Russian oil and gas extractive industry.