All Russian oilfield service companies should be included in the list of strategic companies

This proposal was made by the Institute for the development of technical-and-economic complex technologies.

Alexander Novak the head of the Ministry of Energy said at the end of April that the orders in the Russian oilfield services industry could drop by 30-40%. This may make it difficult to restore production in the oil and gas industry as the market crisis passes. Russian President Vladimir Putin assigned the Government to create conditions for funding of unfinished oil wells to maintain the oilfield service. The Ministry of Energy and the Ministry of Finance have already submitted relevant proposals, which were supported by the legal Committee for the stability of the Russian economy.

In addition, the President charged to include oilfield service companies with revenues of more than 1 billion rubs a year in the list of strategic companies.

Experts believe that in the current conditions, oilfield service companies need additional support.

President of the Union of oil and gas producers Gennady Shmal is sure that in the current conditions we need to think about serious state support for service companies. “This can be, for example, the postponement of tax payment, the provision of preferential loans, co-financing of the interest rate by the state. A letter with proposals from companies was sent to Prime Minister Mikhail Mishustin,” the expert said.

INTECO supports Gennady Shmal’s opinion. According to INTECO management, including the oilfield services in the list of strategic organizations is correct, but it doesn’t make sense to set the minimal revenue level.

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