The Ministry of Industry and Trade will increase the financing of the program for manufacturers of oil and gas equipment

The number of companies that applied for participation in the state support grant program in the field of Oil and gas and energy engineering has significantly exceeded the agency&s forecasts. Such unexpected demand forced the Ministry of Industry and Trade to revise the program budget. Now officials are ready to allocate additional funds for applications received beyond the established limits.

Initially, the state program provided for the allocation of 5.7 billion rubles. These funds were planned to be distributed between 2025 and 2027. The program was launched in April of this year. However, the situation has already changed dramatically. The total amount of requested financing for all applications received exceeded the planned budget by an impressive 1.9 billion rubles. The high interest of manufacturing enterprises in this initiative is explained by the growing need for import substitution of equipment for the oil and gas industry. Russian companies are actively increasing their production capacities to produce critical equipment.

Due to exceeding the application limit, the management of the Ministry of Industry and Trade made a positive decision. The deadline for accepting documents for participation in the competitive selection is extended until September 29 inclusive. This will enable more enterprises to receive government support for the development of domestic engineering.