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Udmurtneft OJSC is the leader of the fuel and energy sector of the Udmurt Republic, which accounts for 60% of the region's oil production. The company is one of the largest taxpayers, employers and investors of the republic. The territory of production activity includes 14 municipal districts located in the north, south and the central part of Udmurtia.

The company was established in 1967. Since 2006, it has been managed by PJSC NK Rosneft and the Chinese petrochemical corporation Sinopec. Over the past 11 years, Udmurtneft has consistently ensured an annual production level of over 6 million tons of oil.

To date, the joint-stock company operates in 65 licensed sites. The company's balance sheet includes 34 fields, of which 29 are being developed, and 5 explored. At the beginning of 2017, the cumulative production level of Udmurtneft exceeded 290 million tons of oil.