Specifics of Real Asset Managment of Oil and Gas Companies of Russia and the World

The author provides the analysis of prospects of developing production asset management in Russian Oil and Gas sector. This analysis is based on the hypothesis of increased companies’ cost-effectiveness as a result of increased organizational flexibility of the sector. The author relies on the principle of rational allocation and management of resources, the criteria for which was the distance between assets of upstream and downstream segments. In this regard, an assumption was made about the possibility of redistribution of production assets received by companies during the "spontaneous" privatization of the 1990s. To approximate the results, a modernized model of the field development efficiency was used. Based on the results of the modeling, it was concluded that during the privatization the assets were not effectively distributed due to the presence of negative rent. Author suggests possible benefits to the company from modernizing the management structure and, in the long term, redistribution of oil and gas assets.