Open AccessTechnological innovation as an ecological risk reduction instrument in the development of Hydrocarbon Resources in the Russian Arctic
Author(s) -
Ishel Bianco,
Alexander Ilinsky
Publication year - 2020
Publication title -
iop conference series. earth and environmental science
Language(s) - English
Resource type - Journals
eISSN - 1755-1307
pISSN - 1755-1315
DOI - 10.1088/1755-1315/539/1/012023
Subject(s) - order (exchange) , business , the arctic , arctic , ecosystem , environmental resource management , natural resource economics , risk analysis (engineering) , environmental economics , environmental science , ecology , economics , finance , oceanography , biology , geology
There are many challenges on the development of oil and gas in the Russian Arctic, most risks facing the oil and gas industry are magnified in such an ecologically vulnerable region. Modern technology can help manage some of those challenges, by coordinating different sources of information in order to minimize risks that could end up in very costly tragedies in terms of losses of ecosystem services and human life, robotics reduce these risks. This paper concludes that Russian companies need to learn from the example of Norway and invest more in technological innovation.