Application of statistical dependencies to evaluate economic indicators of production efficiency by the example of oil fields in Azerbaijan

Abstract

Improving the use of basic funds and production capacity in oil and gas recovery is not only the introduction of new techniques and technology, but also the improvement of labor, management and organization of work. The process of renewal of the fixed capital and production forces is considered intensive at the time when the vast majority of the newly incorporated basic funds and forces are aimed at replacement of morally obsolete and physically worn out parts. This time, their compliance with the economically justified life expectancy is of interest. All these are elements of recycling. Oil and gas wells are important elements of the active part of the main production funds and they determine the future development of oil and gas recovery. Productive use of production wells for oil and gas recovery is considered as a source of improvement of production efficiency in terms of production-resource potential (PRP). In order to increase the efficient use of oil and gas wells as an active element of the main production funds, special attention is paid to both extensive and intensive factors at oil and gas production enterprises.