The official publication of RF Government, Rossiyskaya Gazeta, reported that president of the Russian Union of Oil and Gas Producers, Gennady Shmal, said, “We actually destroyed the oil equipment industry. And I do not see any prospects for domestic oil equipment manufacturing. There is a need for equipment in the oilfield.  And we will have to turn to the West.  However, we may not get loans to purchase new equipment due to the financial crisis.  Therefore, we must make a push and invest in industries that still can be revived. I know, there are some research and development activities in the country”.  Most experts believe that development of the Russian oil and gas equipment industry depends on major holding companies such as Rimera, Integra, Hydraulic Machines and Systems, Borets, Kungur. Today, these are companies that are able to compete with   international firms. Asset consolidation in the domestic oil and gas equipment industry is an indispensable condition for its survival in the highly competitive environment. Experts pin much hopes on the state-controlled corporation “Rostekhnologii” that is able to arrange integrated equipment supplies to offshore fields. Almost all offshore platform equipment is now imported, though in the Soviet times it was successfully provided by Russian plants Uralmash, Barrikady and others.