Level of Russia's technical independence in oil and gas equipment could increase from 60% to 80% by 2025 - Manturov

TYUMEN. Sept 21 (Interfax) - The level of Russia's technological independence in the field of oil and gas equipment is expected to increase to 80% by 2025 from the current 60%, Denis Manturov, Deputy Prime Minister and Head of the Russian Ministry of Industry and Trade, said during a plenary session of the Tyumen Oil and Gas Forum.

"We expect to reach parameters closer to 80% in technological independence by 2025. We have all the prerequisites for this. As I said, the foundation has been created, and we will continue this work with companies," he said.

"We started in 2014 at a level of just over 40% technological independence for oil and gas engineering as a whole. And today the picture has changed dramatically - it is 60% technological independence," Manturov said.

The deputy head of the government noted that increasing the share of Russian equipment in the oil and gas sector required a relatively small infusion from the budget - about 30 billion rubles, most of which came from the preferential loans provided through the Industry Development Fund. A similar amount, about 30 billion rubles, was allocated for the creation of domestic equipment in the oil and gas sector from non-budgetary sources.