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Abstract-The article considers the approach to formation of a strategy for effective management of the fixed production assets of the oil company. The stages of forming a strategy for effective management of the fixed production assets of the oil company are given. Recommendations on the choice of the strategy of technological renewal and effective use of fixed production assets of the oil company are formed on the basis of the ratio of an integrated indicator of the efficiency of the use of the company's fixed production assets and the integral level of environmental factors affecting the process of reproduction of the company's fixed production assets. Formation of the integrated indicator of the efficiency of use of the company's fixed assets is made through the standardization of single indicators of the efficiency fixed production assets. Assessment of the impact of environmental factors on the process of reproduction of the company's fixed production assets is carried out by means of an expert method. A scale for assessing the level of impact of environmental factors on the company's activity is presented. By the example of the oil company PJSOC Bashneft, an experimental approbation of the offered approach is carried out. The efficiency of use of the fixed production assets of the company is assessed; external factors influencing the process of reproduction of the fixed production assets of the company are estimated, problems of effective use of the fixed assets of the oil company are revealed.