IMPROVING THE PROCESS OF MANAGING THE INNOVATION ACTIVITY OF OIL AND GAS COMPANIES

Анотація

The article explores the processes and challenges of managing innovation activities within oil and gas companies, emphasizing the importance of overcoming obstacles and developing efficient management models to ensure success. In the highly competitive and volatile environment of the oil and gas industry, innovation plays a critical role in enhancing profitability and capitalization. The success of innovation management is closely tied to identifying and addressing barriers, or “traps”, that hinder the development and implementation of innovative activities. These barriers can be effectively mitigated through structured management approaches. The proposed model of innovation management integrates key management functions, including forecasting, planning, and organization, throughout the innovation lifecycle-from setting research priorities to evaluating the practical impact of implemented innovations. The model highlights the importance of establishing a technical department within the organizational structure. This department is responsible for planning, financing, and maintaining a database of research and development (R&D) activities. A crucial output of this department is the “Register of Priority Areas for Investment in R&D”, which serves as a strategic document guiding management decisions. Approval from the enterprise’s Scientific and Technical Council ensures the alignment of innovation initiatives with organizational goals. The model also employs a ranking system to prioritize research tasks based on their significance and expected impact across various fields, such as technology, economy, ecology, and society. The implementation of innovations is entrusted to specific divisions, with the heads of these divisions held personally accountable for fulfilling obligations and integrating research outcomes into production processes. Additionally, expert commissions are established to evaluate proposals for R&D projects, ensuring the competitive selection of initiatives with the highest potential for success. By systematizing innovation processes and assigning clear responsibilities, the proposed model enhances the manageability and profitability of innovation activities. The article concludes that such structured approaches are essential for fostering sustainable innovation in the oil and gas industry, addressing both internal management challenges and external market demands.