UralVagonZavod is to consolidate oil industry technology.

The research and production complex wants to consolidate the oilfield industry.

Against the background of sanctions restricting the access of the foreign oilfield service equipment to Russia, the government decided to establish a national engineering company in this field. The joint venture on the basis of the research and production "Uralvagonzavod" (UVZ) will include some major players, such as "Riemer", "Geotech" and OMZ, in the future more than 200 independent companies are to join. It is not yet clear how the new company will work. The import substitution will become its main objective. But this will, in fact, oblige the oil producers to buy the equipment in Russia.

The RF Ministry of Industry and Trade stated that the number of Russian companies engaged in oil and gas engineering had signed a memorandum on establishing the "National Engineering Service Company" joint venture (NESC). According to "the Kommersant" sources in the market, it has become the government's response to the sanctions of the USA and the EU. The ban touched the supply of the technologies and services to the deepwater, offshore Arctic and shale projects in Russia or Russian waters if they have the potential of oil production. The oil producers recognize that it may be a problem, as almost all of the equipment for the shelf is of foreign production.