The oil production industry is a fundamental part of the Russian economy.  It has suffered significantly from the imposition of economic sanctions by Western countries  against the Russian economy. For many years, the industry relied on imported equipment  and technology. The imposition of sanctions forced companies in the sector to completely  rethink their approaches to organizing the production process. Today, the industry is in a  transition to a new qualitative state, actively investing in the development and implementation  of innovation. The desire and ability to create and implement innovation are becoming the  foundation of development. Innovation is currently a factor and driver of enterprise and  regional economic development. This article presents the author's approach to determining  the innovativeness of enterprises in the oil and gas sector and its impact on regional  socioeconomic development indicators. The study focused on regions with similar oil  production indicators – the Kaliningrad Region and the Chechen Republic. It was found that  while certain development indicators for enterprises in the Kaliningrad Region exceed those  of the Chechen Republic, the innovativeness of enterprises in Chechnya has an advantage.  Oil production companies generate demand for innovation and innovative processes,  demonstrating a high degree of innovation readiness. Regional governments should be the  primary "customer" for increasing the innovation capacity of oil production companies, as  there is a direct correlation between the development of oil production companies and  improved socioeconomic development in the regions.