In just the past few years, digitalization has become a firmly embedded concept. Russias leading oil and gas companies have begun to take active measures to implement smart technologies. This has already had an effect geological prospecting and well drilling have become more precise, the number of errors made when planning and commissioning industrial facilities has been reduced, and advance warning about possible equipment failure can be given. As a result, both government and business are able to take advantage of new opportunities. The government has the opportunity to use operational data to significantly increase the quality of governance and strategic planning. Business, meanwhile, has a way to optimize its assets and reduce its most significant costs by substantially improving the efficiency of its production and business processes. However, in order to fully unlock the potential of the oil and gas industrys digital transformation and to achieve a systemic effect from implementing digital technologies, it is essential for government and business to work together. What results can be expected from the digital transformation of the oil and gas industry? What administrative barriers need to be removed in order to aid the development of digital technologies? How do oil and gas companies view their role in this digital transformation? What should the Digital Transformation of the Oil and Gas Industry working group focus on?