In the article, the attempt to form the innovation system as a set of subsurface resources management of institutions, mechanisms and tools is made on the basis of an analysis of existing institutions to promote innovation. The timeliness and the need for systemic innovation development of subsurface resources management for Russia are mentioned in contexts of organization the national and global innovation systems. The authors take notice to the locality of activities of institutions of government, business and science and the lack of balance in their methods and instruments among themselves. The necessary to eliminate underdevelopment of individual institutions and the establishment of the mechanism to determine the total effectiveness of the innovative subsurface resources management is the conclusion. Well-oiled mechanism of interaction involves the simultaneous use of all elements of the system of the innovative subsurface resources management. It allows to adapt the overall system to a particular area with mineral deposits and to improve its competitiveness.

The article reflects the available information about the problem of development of the institutional framework of the innovative subsurface resource management in the Arctic zone, and the relevance of studies of this problem is proved, the interpretation of a number of terms of the study is defined. The main institutions, mechanisms, and instruments governing the innovative subsurface resource management are determined. Most important conventional institutional instruments of regulation are known to rigorously include regulatory support, program and project support, organizational support and financial support. A consistent approach to the assessment of the level of the institutional framework of the innovative subsurface resource management and its impact on socio-economic development of the regions of the arctic countries is produced. This paper estimates loss of profits caused by incomplete development of the institutional framework of the innovative subsurface resource management, which prevents the deployment of the mineral and resource potential of the Arctic zone. We propose the directions of possible Russian cooperation with arctic countries in order to improve the institutional framework of the innovative subsurface resource management in the Arctic.