The Way to Attract Investment in the Oil Exploration Activities

Abstract

The article focuses on the urgent problem of attracting the private investment to oil explorations. The author having long-term CEO experience in exploration company examines the potential increase of investigation activity for the three main groups on the national subsoil usage market – government, large vertically integrated corporations and independent exploration companies. As he suppose the independent companies have the greatest potential to increase search activity, but the current regulating arrangements relating the restoration of the mineral resources does not contribute to the investment attractiveness of prospecting. The article proposes some specific measures to motivate the independent investors and attract venture capital in oil exploration.