Role of the regulatory framework in encouraging sustainable extraction of petroleum resources in Australia and Norway: Lessons for Russia - Part 2

In this paper we investigate the possibility of the existing regulatory system in Australia for organizing sustainable conventional oil production in the shelf zone based on a comparative analysis with a similar system of Norway. The components of sustainable development in non-renewable petroleum. According to the results of comparative analysis of oil fields and the principles of controlled oil production in Australia and Norway, the author focuses on the analysis of the systematic regulation of oil production in the shelf zone. Our results have established a number of restrictions for oil production. In this paper, splitting regarded as the possibility of the contract system as an attempt to overcome these administrative barriers to achieving a sustainable economic system.