Oil & gas sector in Russia
Russia’s recent accession to the world Trade organization (WTO) eased barriers for foreign companies for entering the Russian market.
Continuing consolidation of oil & gas operating companies leads to gradual reduction in the number of customers in the market and to conclusion of higher value long-term contracts.
Gradual transition from production of hydrocarbons in the traditional fields to development of hard-to-recover and offshore reserves requires the use of increasingly complex and science-intensive technologies, which UK suppliers can offer.
Main downside of this market is lack of transparency of the system of contracting used by major operators. Until recently, Russia had no EPC-services market, and it is still at a very early stage of development today.
Currently Russia is importing more than a third of its oil and gas equipment. There is a growing demand for expertise and technologies for extraction of hard to recover and offshore reserves.
For example, ROSNEFT’s purchasing profile for offshore projects can be downloaded from their company website.
Please refer to EIC’s online projects tracking database for updated list of projects in Russia.
Getting into the market
In order to enter the Russian market the following points are crucial:
Presence in Russia via a subsidiary, a representative office or a reliable distributor
Well developed logistics
Post sales service and support
Detailed marketing materials or a website in Russian
Market intelligence is critical when doing business overseas, and UKTI can provide bespoke market research and support during overseas visits though our chargeable Overseas Market Introduction Service (OMIS).
To commission research or for general advice about the market, get in touch with our specialists in country – or contact your local international trade team.
Elena Charushina, British Embassy in Moscow Tel: +7 495 956 7494 or email: firstname.lastname@example.org
Victoria Svechnikova, British Consulate General in St Petersburg Tel: +7 812 320 3228 or email: email@example.com
UKTI runs a range of events for exporters, including seminars in the UK, trade missions to overseas markets and support for attendance at overseas trade shows.
21st World Petroleum Congress
15-19 June 2014
Sector events calendar http://www.rogtecmagazine.com/events-calendar.php