Russian market

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Russia is the world's biggest oil producer, with approximately 10.6 million barrels of oil produced every day, over 70% of which originates in the brownfield regions of Western Siberia and Volga-Urals. These regions have been producing oil for over 60 years and will continue to account for the lion's share of production for at least the next decade. According to the BP Statistical Review of World Energy 2014, Russia contained almost 93 billion barrels of proved oil reserves at the end of 2013, representing almost 24 years of current production.

The Russian economy is highly dependent on the oil & gas industry, with more than 40% of state revenues derived directly from hydrocarbon production. It is a stated strategy of the Russian government to maintain oil production at current levels for the foreseeable future.

Recent history

The recent history of Russia’s oil industry and parallels with the US market.

Structural issues facing the market

The summary of key structural issues facing the Russian oil industry.

Market size and activity split

The size of the Russia’s oilfield services market by region and activity type.

Market characteristics

Characteristics of Russia’s drilling market and RoW comparisons.

Competitive structure

Russia’s drilling industry competitive landscape

Operations

Operations

Learn more about EDC operations.

Industry leader

Industry leader

Learn more about why EDC is an industry leader.