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Rosneft signed 73 contracts worth RUB 616.5 billion at St. Petersburg Economic Forum

These cooperation contracts include over 50 contracts totaling RUB 558.8 billion to implement the strategic project Vostok Oil

Rosneft signed 73 contracts worth RUB 616.5 billion at St. Petersburg Economic Forum

St. Petersburg, June 7 - Neftegaz.RU. During the 24th St. Petersburg International Economic Forum, Rosneft has signed the contracts for construction works of Vostok Oil's 1st stage objects, power and aviation supply, servicing, supplies of equipment, production materials, special-purpose machinery, and pipe products.

The company launched the construction of the North Bay Port Oil Terminal and also signed a contract with United Energy Construction Corporation to construct the terminal's hydraulic structures.
LENMORNIIPROEKT was contracted to conduct engineering works at the 2nd and 3rd construction stages of the North Bay Port Oil Terminal.

During the Forum, Rosneft and TMK agreed on an integrated supply of metal products for the Vostok Oil project, including pipe metal structures, reservoir park, and other metal structures for timely construction and installation works.

In line with the contract signed at the Forum, Inter RAO Engineering will perform survey and design contracts to underpin construction of Train 1 power generation facilities for the Vostok OIl Project:
  • an 867 MW Irkinskaya gas power plant
  • a 220-kV overhead transmission line, energy facilities of leading oil pumping station Payakha
  • a 214 MW power station in Bukhta Sever
Rosneft and Norilsk Nickel have signed an agreement to develop an integrated logistics of the Vostok Oil project.
Additionally, Rosneft agreed with the partners on the maintenance of its Vostok Oil's air fleet.

Rosneft and United Machinery Group have signed an agreement on the transport provision for the company's projects, including special and roadbuilding equipment needed to implement the 1st phase of the Vostok Oil project.

Additionally, Sodexo EuroAsia was contracted to provide catering, accommodation, and comprehensive services for the social and domestic facilities of the Vankor cluster fields.

In addition to contracts related to implementing the Vostok Oil project, other significant agreements with Russian and foreign partners were signed at the Forum:
  • Rosneft and Schlumberger signed an agreement on technological cooperation to implement joint innovative projects in Russia related to the development and operation of oil and gas fields
  • Rosneft and Vestas Rus signed an agreement on cooperation in wind power generation
  • Rosneft and Baker Hughes signed an agreement on cooperation in carbon management. The companies will assess the scope of technologies and equipment to detect, measure, assess, and reduce greenhouse gas emissions, primarily methane emissions at Rosneft's production facilities
  • The company also signed agreements of intent in the retail business with Inter RAO UES on cooperation in developing low-tonnage production and sales of LNG as a motor fuel and with Rosseti on collaboration in developing an EV charging infrastructure
  • Rosneft and SUEZ Water Technologies & Solutions signed an agreement on wastewater treatment and reuse technologies
  • Rosneft and Qatar Foundation signed an agreement to promote cooperation in science, technology, education and a contract with the Polytechnic University of Turin to research the possibilities of intellectualization for seismic data processing and interpretation tasks
Rosneft´s CEO Igor Sechin noted that the investment community gave a high appraisal to the Vostok Oil Project, the program for selling tail assets, and jointly with other initiatives of the company comprising maintenance of a high dividend level and share buyback program, this Project has contributed to the growth in Rosneft’s investment attractiveness and capitalization.

The Head of the company reminded that Rosneft executes a number of 1st-class oil & gas projects with low unit costs of production at the level of $2.6 per barrel of oil equivalent in compliance with the highest environmental standards.
Sechin said:
  • We are willing to share the story of success and we welcome new western and eastern partners, equipment and service suppliers with their best practice and experience

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