Ministry of Industry and Trade: within the framework of the import substitution program, it was possible to achieve 60% of the share of Russian equipment

Companies in the Russian fuel and energy complex are maintaining plans for major investment projects; against the backdrop of sanctions, there are no refusals on contracts with oil and gas engineering enterprises. The Ministry of Industry and Trade of the Russian Federation reported this.

The department held a meeting yesterday on the functioning and development of the oil and gas engineering industry. According to the Ministry of Industry and Trade, as part of the implementation of the import substitution program carried out since 2014, it was possible to achieve a 60% share of Russian equipment in the domestic market.

“We have created a system for financing the full cycle of development of oil and gas engineering products: first we finance R&D, then the launch of mass production through a preferential loan, and then we give a discount to the consumer, stimulating demand,” noted the head of the Ministry of Industry and Trade Denis Manturov.

Let us recall that the mechanism for providing subsidies for R&D was adjusted this year in terms of reducing the requirement for the key performance indicator - the ratio of the volume of subsidies to the volume of sales - from “1 to 5” to “1 to 2”. Manufacturers in the oil and gas engineering industry have confirmed that they are already successfully implementing projects for the development and implementation of rotary-steered systems, hydraulic fracturing equipment, offshore geological exploration equipment, subsea production complex equipment, catalysts and process equipment for oil refining, LNG equipment and many others.

The ministry is confident that they were implemented thanks to the established customer-manufacturer interaction system within the framework of the Scientific and Technical Council (STC) for the development of oil and gas equipment of the Interdepartmental Working Group to reduce the dependence of the Russian fuel and energy complex on imported equipment. During the meeting, the parties expressed their readiness to continue working together within the framework of this association.

The oil and gas engineering industry is coping with emerging difficulties. Even under the sanctions regime, there are no refusals to fulfill contracts. Moreover, customer companies maintain plans to implement major investment projects. They are ready to create demand for the equipment being created.

“It is important to preserve the export potential of our oil and gas equipment. If you receive a positive response in Russia, you move abroad. If we want to develop Russian oil and gas engineering as a global sector, then an international reference will definitely be needed,” the Minister emphasized.