The possibilities of using hedging methods as an instrument for effective business development in the Russian oil and gas market are shown. The relevance of the study is to systematize and identify the key elements of the risk hedging mechanism for business units of oil and gas companies. The focus is on the adaptation of methods such as descriptive statistics and the ARIMA model. Information for the study was taken from open sources, including daily data from company websites and data from official websites of other organizations. The article presents a risk hedging scheme in oil and gas field development projects. The risks of the project were assessed with qualitative and quantitative indicators. This made it possible to identify the dynamics of the degree of change in the latter and evaluate the costs associated with minimizing them during the life cycle of an investment project for the development of an oil (gas) field. Recommendations are proposed to reduce the basic risks of the project. To this end, they were ranked according to their importance to the investor. Significant risks in Russia for investors in the industry are country risks, the reduction of which is a priority for attracting new investments.

Development of oil and gas deposits in Eastern Siberia is carried out in difficult climatic conditions, far from settlements and with no infrastructure. The presence of external conditions creates an unstable economic situation for this economic activity, which should be immediately addressed. The article showed how important it is to focus on the fact that the functioning of an oil and gas company, as a business unit of a territorial holding, largely depends on taking into account the impact on the business of strategic analysis of environmental and internal factors. The research outlined a special significance of this process in the course of effective business management.

The purpose of effective development of social sphere branches for municipal territories is provision of the gross regional product growth, first of all at the expense of meeting the social and living needs of the mineral extraction regional population. Development of the East-Siberian oil and gas complex is one of the priority directions of Russias energy strategy. Major deposits of this territory located in inhabitant areas of Irkutsk Oblast administrative districts are actively being developed making considerable profit. The SWOT analysis of the current state of economic activity of major oil and gas companies indicates reserves and non-used opportunities. The four types of strategies, built up on this model, demonstrate combinations of strong and weak points, opportunities and potential threats for business development in terms of oil market price fluctuations. The approach offered in the article will allow to consider the synergy of business needs and territorial development of the utilized territories will contribute to increasing the living standards. Thereupon, it will make it possible to credibly project the processes aimed at financing the territorial activities of coordinated entrepreneurial solutions in business and social sphere.