The Russian Federation is the world’s largest producer and exporter of oil and gas. The national gas and oil industry represents today significant element of Russia’s economy and an important part of the global energy system. Active cooperation with traditional and new major importers is the key to diversification of oil and gas exports, achievement of a structural and territorial balance in the Russian oil and gas sector, an important guarantee of the country’s economic interests. The article surveys the current state of, and development prospects for, the oil and gas industry in Siberia and the Russian Far East, as well as cooperation mechanism between Russia and APR countries in the oil and gas sector.