Ministry of Industry and Trade voices forecast of billions of dollars of investments in oil and gas industry

Domestic and foreign companies will invest more than $5 billion in the Russian oil and gas engineering, the Russian Minister of Industry and Trade Denis Manturov reported.

"By 2020, Russian and foreign companies should invest over $5 billion in the oil and gas engineering sector. Therefore, we must proceed from the fact that we don’t limit the participation of foreign companies, of course, we will consider it in terms of the strategic sector and look forward to the maximum localization of technologies, but unfortunately, foreign companies don’t actively resolve to do it," - said the Minister.