RISK FAKTOR IN EKONOMIC FORMATION FOR DEVELOPMENT OF OIL AND GAZRESOURCES (ON THE EXAMPLE OF AZERBAIJAN)

Abstract The article describes that developed countries such as Norway and the United States annually receive hundreds of billions of US dollars in the development of oil and gas resources due to the maintenance of the existing scientific and technical potential, the constant development of infrastructure and economic mechanisms, the use of accumulated national and world experience, and the implementation of commercially attractive projects. The development of the oil and gas sector is considered from the point of view of the general technological process, taking into account the market for high-tech products and services related to oil and gas operations. It is proposed to mobilize the existing scientific and technical potential of the republic and invest in the implementation of advanced technologies for the production of competitive products and their sale on world markets. The article describes the ways of modernization and development of an innovation-oriented approach to the development of hydrocarbon resources both on land and at sea, ways to solve existing and prospective problems in this area based on a comprehensive transformation of the technical system and economic mechanism.