+7 495 989 9610, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»






International Accounting

Abstracting and Indexing

Referativny Zhurnal VINITI RAS
Google Scholar

Online available



Cyberleninka (24 month OA embargo)

Minerals as an object of accounting and economic security of the oil and gas company implementing the production sharing agreement

Vol. 23, Iss. 11, NOVEMBER 2020

Received: 7 October 2020

Received in revised form: 26 October 2020

Accepted: 30 October 2020

Available online: 13 November 2020


JEL Classification: K11, L32, L71, M41, Q35

Pages: 1291–1312


Zyleva N.V. University of Tyumen (UTMN), Tyumen, Russian Federation

ORCID id: not available

Subject. This article discusses the practice of ensuring the economic security of oil and gas companies operating under the terms of production sharing agreements, where minerals are the object of security.
Objectives. The article aims to justify the need to apply professional judgment in the organization of reliable accounting of minerals, explored and extracted under the terms of the production sharing agreement implementation, to avoid various risks to the entity's economic security.
Methods. For the study, I used the methods of deduction and modeling.
Results. The article presents proposals to arrange accounting of intangible exploration assets (geological information on mineral reserves) and finished products (the part of the extracted minerals owned by the investor and the part owned by the State).
Conclusions. As strategic minerals, oil and gas are the targets of various economic risks. Professionals familiar with the specifics of accounting operations in the implementation of the production sharing agreement should be prepared to prevent these risks. The results obtained can be used to design accounting policies and develop local regulations on the tasks and functions of the economic security service of the organization implementing the production sharing agreement.

Keywords: mineral commodities, product sharing agreement, economic strength


  1. Perminov O.G., Glushchenko N.V. [About the system of economic security of the oil and gas industry]. Biznes v zakone. Ekonomiko-yuridicheskii zhurnal = Business in Law, 2016, no. 6, pp. 347–350. URL: Link (In Russ.)
  2. Gaifullina M.M., Kostomarova E.V. [Methodical approach to assessmentof the economic safety of the oil company]. Internet-zhurnal Naukovedenie, 2017, vol. 9, no. 2, pp. 1–15. (In Russ.) URL: Link
  3. Simonov S.G., Yamova O.V. [Criteria and indicators of estimation of economic safety level of large companies of oil and gas profile]. Vestnik Omskogo universiteta. Seriya: Ekonomika = Herald of Omsk University. Series: Economics, 2018, no. 4, pp. 57–67. URL: Link (In Russ.)
  4. Selezneva N.A., Kuznetsov V.V. [Production sharing agreement: an investment potential in Russian fuel and energy complex]. Evraziiskaya advokatura = Eurasian Advocacy, 2018, no. 2, pp. 96-101. URL: Link (In Russ.)
  5. Gavva R.V. [Functioning of the subsoil-use relationship system in the implementation of the product-sharing agreement]. Regional'naya ekonomika: teoriya i praktika = Regional Economics: Theory and Practice, 2007, vol. 5, iss. 5, pp. 123–126. URL: Link (In Russ.)
  6. Kamenev E.A., Pozdnyakova L.N. [A review of methodological approaches to the valuation of in-situ mineral resources]. Sever i rynok: formirovanie ekonomicheskogo poryadka = The North and the Market: Forming the Economic Order, 2007, no. 2, pp. 120–126. (In Russ.)
  7. Aglyukov Kh.I. [Assessment of mineral raw materials]. Ekonomicheskie, gumanitarnye pravovye issledovaniya, 2012, no. 5, pp. 3–7. (In Russ.)
  8. Kozlov A.V., Stepanov V.A., Kir'yakova I.G., Evdokimov A.N. [Historical analysis of the system of estimation and expert's examination of explored ore reserves in Russia]. Zapiski Gornogo Instituta = Journal of Mining Institute, 2012, vol. 199, pp. 211–218. URL: Link (In Russ.)
  9. Gandhi S.M., Sarkar B.C. Chapter 12 – Geostatistical Resource/Reserve Estimation. Essentials of Mineral Exploration and Evaluation, Elsevier Inc., 2016, pp. 289–308. URL: Link
  10. Revuelta M.B. Mineral Resource Evaluation. In: Mineral Resources. Springer Textbooks in Earth Sciences, Geography and Environment. Springer, Cham, 2018, pp. 223–309. URL: Link
  11. Lukinova L.G. [A methodology for accounting for product-sharing agreements]. Promyshlennost': bukhgalterskii uchet i nalogooblozhenie, 2015, no. 3. URL: Link (In Russ.)
  12. Zyleva N.V., Ruf Yu.N. [Measurement of mineral resources extracted as part of the production sharing agreement: Specific features]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2019, vol. 22, iss. 8, pp. 872–884. (In Russ.) URL: Link
  13. Chaya V.T., Pankratova V.V. [Accounting of contracts concluded by oil and gas companies in accordance with IFRS]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2010, vol. 13, iss. 3, pp. 16–23. URL: Link (In Russ.)
  14. Nichols L.M. Accounting Implications of Production Sharing Contracts. Petroleum Accounting and Financial Management Journal, Summer 2010, pp. 1–15.
  15. Hughes C.D., Pendred O. Let's Be Clear: Compliance with New Transparency Requirements Is Going to Be Challenging for Resource Companies. The Journal of World Energy Law & Business, 2014, vol. 7, iss. 1, pp. 36–45. URL: Link
  16. Kevorkova Zh.A. [The reliability of the accounting information as a condition for ensuring the economic security of the organization]. Finansovaya analitika: problemy i resheniya = Financial Analytics: Science and Experience, 2013, vol. 6, iss. 29, pp. 8–13. URL: Link (In Russ.)
  17. Konev S.I., Kunina I.L. [The legal status of geological information about the subsoil]. Evraziiskii Soyuz Uchenykh (ESU) = Eurasian Union of Scientists (ESU), 2018, no. 5, pp. 68–70. URL: Link (In Russ.)

View all articles of issue


ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

Journal current issue

Vol. 23, Iss. 11
November 2020