Sergo Ordzhonikidze Russian State Geological Prospecting University, Moscow, Russia:

Z. M. Nazarova, Head of Chair, Professor, Doctor of Economic Sciences, nazarovazm@inbox.ru
A. G. Sobaev, Detailer
Yu. V. Zabaykin, Associate Professor, Candidate of Economic Sciences

In Russia the baulk of vanadium-bearing oil occurs within the Volga–Ural oil province. This region possesses high potential for development and introduction of technologies for metal recovery from oil and bitumen, which can conceptually change the internal balance in the metal market. By tentative forecasts the anticipated volume of recoverable associated components is comparable with ore sources in this region. Success of implemented projects on oil refining improvement and production chemitization stimulation is ensured by the positive dynamics of vanadium price advance in the international market due to the population growth in the world the increased demand for metalwork. By all means, development of such reservoirs requires large investment, which elevates risks. Nevertheless, the implemented process designs are of strategic importance as the drivers of the chemical industry in Russia. The scope of this objective embraces a cluster of production problems typical of the fuel and energy sector of Russia such as maximization of raw materials production, ecology, processing and transportation. This article discusses the economic potential recovery of associated components from the Volga–Ural province oil, in particular, vanadium. The investment calculations show positive and high NPV. The internal rate of return, which is annual percent of invested capital, s 2.78 %. The efficiency indices prove the project investment. The payback period is round 6.4 years, which a good index in the competitive environment. Thus, while improving technology and equipment for deeper conversion of hydrocarbons, it is possible to make extra profit from recovery of associated components.

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