RussiaEnergy.com, media partner of the fifth Moscow Oil & Gas Service (Neftegazservice) Conference, Focus Communication
Release Date: 2009-10-22
RussiaEnergy.com, the Focus Communication’s website specialized in oil, gas and energy in Russia, participated as media partner and exhibitor at the Neftegazservice Conference, held on 20 October in Moscow. Over the last five years, the forum has established itself as the traditional meeting point of the oil and gas companies and their Contractors.
Following four years of high oil prices and an abundance of projects and revenues, representatives of oil and gas companies, public authorities, CEO’s of drilling and geophysical companies, and workover companies had much to debate about the current situation and future prospects of the oil and gas field market in Russia. The industry, already behind western analogues in standards and technological breakthroughs, has severely suffered the effects of the recession and drastic drops in hydrocarbons´ prices, forcing many to cut their non-profitable assets, and R&D units.
One key speaker at the Conference, the president of the Association of Oil and Gas Equipment Producers, Mr. Alexander Romanikhin, advocated more government protection for Russian engineering and machine-building companies. Half of the equipment operating in Russian fields is of foreign origin; Western and, increasingly, Chinese. Now, Russian firms are more and more fearing they will be squeezed out of Russia´s most precious jewel: the Arctic shelf.
Inam Khasanova, Project Director of Focus Communication in Russia, who attended the event, reports: “The Russian field services industry is facing real challenges. At present, international companies hold 30% of market share with Russian companies controlling the other 70% of the market. But, with foreign companies making inroads into highly sophisticated developments such as the Arctic shelf, this ratio may be inverted. There is a need to speed up the ongoing modernization and harmonization of standards, and in this regard the announcement made by the General Director of National Institute of Oil and gas and co-chairman of Association of Oil & Gas Equipment Producers about the soon-to-be-launched self regulating organization SRO Neftegazservice, signals the start of a very needed change.”
Focus Reports, the contract publishing unit of Focus Communication is about to embark in an epic project across Russia’s oil and gas industry for the illustrious US-based Oil&Gas Financial Journal. A series of special reports will be published next year.
| Type: | NORMAL |
| Company: | Focus Communication |
| Country: | Russian Federation |