The economic mechanism for creating a business-model of oilfield service company

UDK: 338.23 : 622.276
DOI: 10.24887/0028-2448-2020-1-20-23
Key words: economic mechanism, business-model, oilfield service company, external factors, segments of the oilfield services market, performance evaluation indicators
Authors: A.V. Beloshitsky (Bashneftegeofizika JSC, RF, Ufa)

The current state of the world and domestic economies can be characterized as a process of constant transformation. Global transformations in the world occur as a result of the acceleration of scientific and technological progress. New technologies seriously transform business conditions, intensifying competition in world markets, and forcing companies to find more efficient business-models that allow them to fully reveal the potential of the company, to be competitive in the market. Existing trends in the development of industries show that in the long term, companies with the ability to quickly adapt to changing external and internal environment, be flexible, see new opportunities in the unstable market conditions and successfully use them will have greater competitiveness. The purpose of the study is to develop an integrated approach to creating a mechanism for the formation of an effective business-model for an oilfield service company, which allows it to be competitive in the medium and long term. Conceptual approaches to the construction of business-models are identified and analyzed. The specific factors of the oilfield services market are shown that must be considered when building the business-model of the oilfield services company. The 11 stages of the formation of the business-model, the full implementation of which will improve the efficiency of oilfield services company’s activities are highlighted. The environmental factors that influence the development of the oil service industry are grouped according to five characteristics: economic, political, social, scientific, technical, and natural. Accounting for external factors will increase the credibility of the scenarios for the development of the oilfield services industry. The proposed mechanism for the formation of the business-model of the oilfield services company includes a stage of evaluating the effectiveness of the business-model built, for which general performance indicators are highlighted, as well as private ones - in the context of three segments of the oilfield services business: current and capital repairs, drilling, and geophysical exploration of wells.


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