[01] Salimov A. H., Economics and Management, Azerbaijan State Oil and Industry University, Baku, Azerbaijan. [02] Mehdizade E. K., Economics and Management, Azerbaijan State Oil and Industry University, Baku, Azerbaijan.

Formation of innovative strategy includes analysis steps, setting goals, developing policy options, the choice of the optimal variant, and finally creating the conditions for implementation of the strategy. During the implementation of innovative strategies for developing and implementing measures and tactical plans, monitoring the situation may arise in which the implementation of innovation, how highly risky activity at its core, will come into conflict with the investment policy. This, in turn, may or may worsen the financial position of the company, or lead to the abandonment of developed innovation strategy. Therefore, the stages of design innovation strategy should include the analysis of the financial limitations set by the chosen investment policy. The article describes the mechanism of formation of innovative enterprises of oil and gas strategy, the main component of which is the process of determining the strategic potential of innovative projects, of which the portfolio is formed and the future strategy projects.

Innovation Strategy, Innovative Design, Innovation, Strategic Potential, Market Potential, Technical and Technological Potential Risk, Drilling Process, Economical Measures

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