Improving the Business Model for Using Drilling Fluids for Russian Mining Companies

The work is devoted to consideration and recommendations for Russian extractive companies to build business models of drilling fluids utilization on the basis of Russian and foreign practice. The purpose of the work is to improve the business model for extractive companies based on the use of drilling fluids. To achieve this goal the following tasks are solved: to consider the concept, types and features of drilling fluids; to analyze the state of the world market of drilling fluids; to analyze the trends of the Russian market of drilling fluids; to analyze the business models of foreign extractive companies in the aspect of the use of drilling fluids; to analyze similar Russian business models; to consider the possibilities of improving the business model for Russian conditions; to calculate the effectiveness of the implemented business model; to analyze the effectiveness of the business model for Russian companies. The object of the research is the drilling fluids market, the subject is the business model of drilling fluids application at the Russian extractive enterprise. The main hypothesis of the study is that the improvement of the business model of drilling mud application will significantly increase the efficiency of oil and gas companies. The research methods used in the work are analysis of the available scientific and technical base, analysis of the companies' business processes, statistical analysis of the peculiarities of drilling mud application at Russian enterprises, financial analysis of the performance efficiency, comparative analysis of the companies' activities in different conditions. The empirical basis of the study was financial reports and technical documentation of oil producing companies. Theoretical significance of the work consists in identifying the impact of changes in business processes and architecture of enterprises on improving the efficiency of activities in the oil and gas industry. Practical significance consists in the possibility of applying the recommendations to the activities of specific companies.