Russian Federation Oil and Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Russian Federation Oil and Gas Upstream Companies and the market is segmented by Location of Deployment (Onshore and Offshore). The report offers the market size and forecasts for crude oil production in thousands of barrels per day and natural gas production in billion cubic feet per day for all the above segments.

Russian Federation Oil and Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Russian Federation Oil and Gas Upstream Market Size

Russian Federation Oil and Gas Upstream Market Summary
Study Period 2021 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2021 - 2023
CAGR 2.50 %
Market Concentration Low

Major Players

Russian Federation Oil and Gas Upstream Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Russian Federation Oil and Gas Upstream Market with other markets in Energy & Power Industry

Oil and Gas

Power

Battery

Decommissioning

Emerging Energy Technologies

Energy Storage Technology

Russian Federation Oil and Gas Upstream Market Analysis

The Russian Federation Oil and Gas Upstream Market is expected to register a CAGR of greater than 2.5% during the forecast period.

The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.

  • Factors such as the reduction in the offshore drilling cost by 40% and the increasing exploration and production activities in the offshore region are expected to drive the Russian Federation oil and gas upstream market during the forecast period.
  • However, the sanctions from the United States and Europe against Russia's energy sector are likely to restrain the Russia Federation Oil and Gas Upstream Market.
  • The Russian government offers a trillion-ruble tax cut and various incentives for operators in the Arctic offshore, which is likely to create several opportunities for the Russian Federation oil and gas upstream market in the future.

Russian Federation Oil and Gas Upstream Industry Overview

The Russian Federation Oil and Gas Upstream Market is fragmented. Some of the key players in this market ( not in particular order ) include Rosneft Oil Company PJSC, PJSC Gazprom, PJSC Lukoil Oil Company, Novatek PAO, and Surgutneftegas PJSC.

Russian Federation Oil and Gas Upstream Market Leaders

  1. Rosneft Oil Company PJSC

  2. PJSC Gazprom

  3. PJSC Lukoil Oil Company

  4. Novatek PAO

  5. Surgutneftegas PJSC

  6. *Disclaimer: Major Players sorted in no particular order
Rosneft Oil Company PJSC, PJSC Gazprom, PJSC Lukoil Oil Company, Novatek PAO, and Surgutneftegas PJSC.
Need More Details on Market Players and Competiters?
Download PDF

Russian Federation Oil and Gas Upstream Market News

  • November 2022: According to Japan's Chief Cabinet Secretary, the Russian government accepted Sakhalin Oil and Gas Development Co.'s involvement in the new operator of the Sakhalin 1 oil and gas project. Tokyo views this as an important development for the country's energy security.
  •  May 2022: The potential purchase of BP's 20% investment in Rosneft has been the subject of exploratory conversations between ONGC, Bharat Petroleum, and Oil India. ExxonMobil's 30% share in the Sakhalin-I project and Shell's 27.5% interest in the Sakhalin-II project are both up for bid, and ONGC is evaluating them both.

Russian Federation Oil and Gas Upstream Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Russian Federation Oil and Gas Upstream Market Size and Demand, till 2027
    • 4.2.1 Crude Oil Production and Forecast in thousands barrels per day, till 2027
    • 4.2.2 Natural Gas Production and Forecast in billion cubic feet per day, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis

5. MARKET SEGEMENTATION

  • 5.1 Location of Deployment
    • 5.1.1 Offshore
    • 5.1.2 Onshore

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
  • 6.2 Strategies Adopted by Key Players
  • 6.3 Company Profiles
    • 6.3.1 Rosneft Oil Company PJSC
    • 6.3.2 PJSC Gazprom
    • 6.3.3 Novatek PAO
    • 6.3.4 PJSC Lukoil Oil Company
    • 6.3.5 Surgutneftegas PJSC
    • 6.3.6 Total S.A
    • 6.3.7 Royal Dutch Shell Plc
    • 6.3.8 PJSC TATNEFT
    • 6.3.9 CJSC Northgas
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES and FUTURE TRENDS

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Russian Federation Oil and Gas Upstream Industry Segmentation

The operations phases of the oil and gas sector that entail exploration and production are referred to as upstream. Upstream, midstream, and downstream are the typical divisions of oil and gas corporations. The upstream businesses focus on the oil and gas industry's exploration and first production stages.

The Russian Federation Oil and Gas Upstream Market is segmented by location of deployment. By location of deployment, the market is segmented into onshore and offshore. The report also covers the market size and forecasts for the Russia Federation Oil and Gas Upstream Market across the major countries. The market sizing and forecasts for each segment are based on crude oil production in thousands of barrels per day and natural gas production in billion cubic feet per day.

Need A Different Region or Segment?
Customize Now

Russian Federation Oil and Gas Upstream Market Research FAQs

What is the current Russian Federation Oil and Gas Upstream Market size?

The Russian Federation Oil and Gas Upstream Market is projected to register a CAGR of greater than 2.5% during the forecast period (2025-2030)

Who are the key players in Russian Federation Oil and Gas Upstream Market?

Rosneft Oil Company PJSC, PJSC Gazprom, PJSC Lukoil Oil Company, Novatek PAO and Surgutneftegas PJSC are the major companies operating in the Russian Federation Oil and Gas Upstream Market.

What years does this Russian Federation Oil and Gas Upstream Market cover?

The report covers the Russian Federation Oil and Gas Upstream Market historical market size for years: 2021, 2022, 2023 and 2024. The report also forecasts the Russian Federation Oil and Gas Upstream Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Russian Federation Oil and Gas Upstream Industry Report

Statistics for the 2025 Russian Federation Oil and Gas Upstream market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Russian Federation Oil and Gas Upstream analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.