Assessment of Investment Attractiveness of Arctic Companies of the Oil and Gas Sector

Abstract

Based on the analysis of various methods the authors tried to form an integral method of assessment of the investment attractiveness using the most important indicators of the company. Studies showed that only six out of thirteen companies have kept their rating. PJSC “Surgutneftegaz” - high investment attractiveness, PJSC “Severneftegazprom”, PJSC “NOVATEK” and JSC “Mur-manoblgaz” - moderate attractiveness, JSC “Sakhatransneftegaz” and PJSC “Tarmanskoe-zapadnoe” - low attractiveness. JSC “ALROSA-Gaz” and JSC “Sibneftegaz” downgraded their ratings and moved from the group with high and moderate attractiveness to the group with medium and low one. During the period under review most companies did not show steady investment attractiveness. Integrated method and assessment of Arctic oil and gas companies based on it will allow investors to get additional data for making decisions on implementation of investment projects of the considered companies. Further research is needed to develop a scientifically based methodological framework for assessing the investment attractiveness of industrial companies especially in the context of the specific conditions of the Arctic, the financial crisis and the ongoing sanctions from Western countries.