The study is devoted to a relevant problem of management and evaluation of the petroleum projetcs in Russian Arctic shelf. The significance of the region is supported by a number of factors, such as a vast resource base, important geopolitical location, and others. The Arctic region presents unique logistics, transportation, production and market challenges. The aim of the research is the development of the multi-criteria decision-making approach for the evaluation of the Arctic petroleum projects. Both qualitative and quantitative indicators (economic, technological, logistical) of the efficiency of the project implementation were considered and the difference in their evaluation was studied. Results of the evaluation of the forteen petroleum projects showed the influence of the qualitative criteria on the overall problem which in turn pointed out their importance when evaluating projects in the Arctic region as financial evaluation does not have the sufficient efficiency. For the given set of objects, the preliminary sequence of development was determined under current conditions.
