Development of intra-company planning tools at an oil and gas producing enterprise

Tyumen State University Herald. Social, Economic, and Law Research


Release:

2023, Vol. 9. № 3 (35)

Title: 
Development of intra-company planning tools at an oil and gas producing enterprise


For citation: Khazhin, D. I., Salko, M. G., & Plenkina, V. V. (2023). Development of intra-company planning tools at an oil and gas producing enterprise. Tyumen State University Herald. Social, Economic, and Law Research, 9(3), 247–262. https://doi.org/10.21684/2411-7897-2023-9-3-247-262

About the authors:

Denis I. Khazhin, Postgraduate Student, Department of Management in the Fuel and Energy Complex, Industrial University of Tyumen, Tyumen, Russia, khazhindi@gmail.com, https://orcid.org/0009-0000-3203-5169
Miroslava G. Salko, Cand. Sci. (Econ.), Associate Professor, Department of Management in the Fuel and Energy Industries, Tyumen Industrial University; salkomg@tyuiu.ru

Vera V. Plenkina, Dr. Sci. (Econ.), Professor, Industrial University of Tyumen, Tyumen, Russia, plenkinavv@tyuiu.ru; https://orcid.org/0000-0002-5717-3987

Abstract:

Due to various external factors such as the economic crisis and the depletion of easily accessible hydrocarbons, oil and gas companies are facing the challenge of developing hard-to-recover reserves. As a result, these companies need to reevaluate their tools and approaches to intra-company planning. This article explores the enhancement of intra-company planning by adjusting traditional methodological tools in response to the industry-specific nature of oil and gas enterprises. The authors focus on the balanced scorecard method and identify its limitations in the classical model. They propose adjustments by introducing additional key performance indicators to improve the system of intra-company planning. An algorithm for optimizing intra-company planning in oil and gas companies is developed, integrating the balanced scorecard approach. To validate the effectiveness of these recommendations, the authors analyze the degree of achievement of target performance indicators for activity planning efficiency in one oil and gas company. The results of the study are confirmed through forecasting methods, demonstrating that the implemented measures lead to long-term improvements in enterprise efficiency and overall management decision-making. It is worth noting that these recommendations can be applied to numerous industrial sector enterprises in the Russian Federation.

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