Akademik Məlumat İdarəetmə Sistemi
vol.0,4, pp.125-129, 2021 (Peer-Reviewed Journal)
The oil and gas sector
has high export revenues, but this does not relieve
it of the need to solve
the problems of financing large-scale, highly risky investment and innovation
projects. Currently, leading oil and gas companies are seeking to finance
innovation activities at their own expense, formed on the basis of net profit
and depreciation. In the context
of globalization, in order
to ensure high rates and quality of economic growth,
increase its competitiveness and efficient use of resources, the main task is to develop
innovative activities of enterprises of all sectors of the economy, including
the oil and gas complex. State financing in the form of budgetary and tax benefits
is directly related
to technologies at an early
stage of development, since these stages are characterized by significant technological barriers, time-consuming and non-guaranteed commercial benefits.
Other various methods of state support and private financing from venture funds
and various other funds, institutes and organizations are characteristic of the
subsequent risk stages associated with the stage of demonstration of a
prototype and its commercialization. However,
this mechanism should be based not only on the optimization of tools and methods for
financial support of innovative processes of oil and gas sector enterprises
taking into account foreign experience.
Keywords: state,
financing, economic development, oil and gas sector