Technologies for the Oil and Gas Industry

History

2024: Foundation Creation

On September 26, 2024, the Russian Direct Investment Fund (RDIF) and leading Russian oil and gas companies announced the creation of an investment fund for the development of critical technologies. The new structure was called "Technologies for the Oil and Gas Industry."

The main objectives of the formed fund are to support import substitution projects and the development of new current breakthrough technologies in the oil and gas industry. We are talking primarily about the development of IT products, high-tech equipment and software for the relevant industry.

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Within the framework of the fund, it is planned to invest in Russian companies engaged in the creation of solutions for intensifying oil and gas production, including the method of hydraulic fracturing, as well as for modeling technological processes and the introduction of "digital twins" of oil and gas facilities. In addition, promising projects in the field of artificial intelligence, in the field of supply chain management and dispatching, etc. will receive support.

The capital of the fund is formed by the state and private business on a parity basis, while private investors invest at least 1 billion rubles. Funds in approved projects are invested from the state and from private investors in equal amounts. A number of companies have already been selected for potential investments in the field of seismic processing, geophysical research, rotary controlled systems and others. The main requirement for support is the development of critical or promising products and technologies for the oil and gas industry. Market leaders will contribute to the development of import-substituting products on all cycles of their development with the assistance of industry institutions.^[1]

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