The Ministry of Property Management of Udmurtia has announced the results of an auction to sell a 31% stake in OJSC “Izhevsk Oil and Gas Equipment Plant” (OJSC “Izhneftemash”). The government’s stake was acquired by three Udmurt companies: LLC “Intekmash” (33 thousand shares), LLC “Izhevskagrobiokhim”   (11 thousand shares) and LLC “Trading House “Izhneftemash” (11,07 thousand shares). Previously, the three companies were part of OJSC “Izhneftemash”. The deal is worth 115, 647 million rubles.

OJSC “Izhneftemash” (member of the Association of Oil and Gas Equipment Manufacturers) is one of Russia’s  largest companies manufacturing  oilfield equipment  and holding strong positions in the oil and gas equipment market.  OJSC “Izhneftemash” is a well-equipped company providing more than 40 types of products: medium and small size mud pumps, stationary automatic drilling tongs, cementing and mixing units for well cementing operations, beam units and oil well sucker rod pumps for artificial lift,  spinning wrenches and many other products. Izhneftemash is the only company in Russia manufacturing drilling tongs AKB-3M2 and KBG-2. The company’s list of customers includes more than 70 oil and gas industry companies  in the Russian Federation.