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Innovation in oil-producing companies as a factor in regional development (on the example of the Kaliningrad Region and the Chechen Republic)

Abstract

The oil production industry is a fundamental part of the Russian economy.  
It has suffered significantly from the imposition of economic sanctions by Western countries  
against the Russian economy. For many years, the industry relied on imported equipment  
and technology. The imposition of sanctions forced companies in the sector to completely  
rethink their approaches to organizing the production process. Today, the industry is in a  
transition to a new qualitative state, actively investing in the development and implementation  
of innovation. The desire and ability to create and implement innovation are becoming the  
foundation of development. Innovation is currently a factor and driver of enterprise and  
regional economic development. This article presents the author's approach to determining  
the innovativeness of enterprises in the oil and gas sector and its impact on regional  
socioeconomic development indicators. The study focused on regions with similar oil  
production indicators – the Kaliningrad Region and the Chechen Republic. It was found that  
while certain development indicators for enterprises in the Kaliningrad Region exceed those  
of the Chechen Republic, the innovativeness of enterprises in Chechnya has an advantage.  
Oil production companies generate demand for innovation and innovative processes,  
demonstrating a high degree of innovation readiness. Regional governments should be the  
primary "customer" for increasing the innovation capacity of oil production companies, as  
there is a direct correlation between the development of oil production companies and  
improved socioeconomic development in the regions.

About the Authors

Galina Gudimenko
INOTEKU Kaliningrad State Technical University
Russian Federation


Rustam Salgiriev
Grozny State Oil Technical University named after Academician M. D. Millionshchikov
Russian Federation


References

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For citations:


Gudimenko G., Salgiriev R. Innovation in oil-producing companies as a factor in regional development (on the example of the Kaliningrad Region and the Chechen Republic). Baltic Economic Journal. 2025;(4(52)):6-16. (In Russ.)

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ISSN 2073-3364 (Print)