RESUMO
In the Russian oil and gas industry, there are still no technical regulations for unified rules and standards governing the establishment of the abandonment fund and the decommissioning of fields. With an increase in the volume of assets decommissioned, the issues of correct accounting and financial reporting of these expenses are becoming more and more urgent. There is also uncertainty regarding the taxation guidelines of operations completion on the production facilities. The strategic aspects of the decommissioning policy of oil and gas fields are stated using the example of the North Sea countries. As part of the responsible investment policy, environmental aspects and industrial safety management during decommissioning of facilities are outlined. An overview of the Russian legislative and regulatory framework is made. Recommendations are given to improve the methodology and practice of abandonment funds management in Russia.
