The first and one of the most important functions of management is planning. At the same time, in the current market conditions, the time for the implementation of this stage is very limited. In many ways, this applies to the oil and gas industry all the same. Due to the reduction of the resource base of the industry, the share of super-profitable projects has decreased significantly. Extraction of hard-to-recover oil and gas reserves is associated with active investment activities and with the need to introduce expensive technologies and equipment. The most common type of investment project associated with the geological and technical activities is being considered in the present paper. In order to increase the economic efficiency of the geological and technical activities it is proposed to implement an automated model at the stage of planning. This model, on the basis of the generalized geological, technological, statistical, macroeconomic and economic indicators, allows to solve quickly the following problems: of more precise and prompt planning the expenses on carrying out geological and technical actions; of defining minimum admissible profitable level of an oil flow rate after carrying out geological and technical actions; of determining the most economically justified duration of the overhaul of the well; of organizing the projects of geological and technical measures according to their attractiveness. As a result of the implementation of the automated model, an efficiency matrix for a particular field was compiled that determines the impact of the necessary investments and planned flow rate on the economic indicators of the project. The use of this matrix made it possible to exclude several inefficient geological and technical measures from the plan. The method of ranking based on the calculation of the integrated efficiency coefficient has been developed. On its basis, the issue of making optimal management decisions taking into account the impact of risk assessment in the case of projects with the same economic efficiency is solved.

Due to the fact that most of the large oil fields in Russia, characterized by high production costs, are at the final stage of development; the issue of cost optimization has become increasingly important in recent years. The main cost items at oil and gas enterprises are design and construction (reconstruction) of oil field facilities. Analysis of currently used methods for ranking oil and gas projects has shown that all of them are inherently subjective, since they are based on expert opinion. The authors have developed a methodological tools for evaluating the effectiveness of capital construction projects of oil field facilities (for example, construction work on the site for inventory receiving bridges and lifting units), which allows  to eliminate the influence of expert opinion  as much as possible and, consequently,  significantly  improve  the quality and validity of management decisions. The choice of the optimal project is based on a two – level assessment (stage 1– technical assessment, stage 2 – economic assessment). At each stage, an integral indicator is determined by calculation based on the results of objective data analysis  and using the developed algorithms. Thus, it is possible to judge the effectiveness of any project without being based on a subjective approach in the assessment with the help of expert opinion.

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All major oil fields in the Urals and the Volga Region, Russia, are in the final stage of exploration, when oil production is becoming too costly. In the light of the novel coronavirus pandemic that has led to a reduction in oil demand, in turn resulting in limited production, optimizing the oil production costs is even more critical. This paper dwells upon developing methodological toolkit for information modeling to help identify the production potential associated with optimizing the operating costs of an oil production company; the case study uses the costs of well maintenance and repair. This methodology features little to no use of expert opinions to make the best and most sound managerial decisions. By finding the correlating indicators of oil fields in the Urals and the Volga Region, the authors apply Microsoft Excel Solver, a simplex-based linear programming solver, to comprehensively identify how the frequency and the average duration of repairs could be reduced. The authors propose organizational measures, adopting which will help optimize the well repair cycle.