Rosneft agrees to long-term strategic cooperation program with GE

Feb 02, 2016 12:00 AM

Rosneft and General Electric have signed an agreement establishing a long-term strategic cooperation program, according to a press release issued by Rosneft.

The program includes plans for joint ventures to manufacture marine, oil and gas, and electrical equipment and to ensure the timely completion and commissioning of production facilities.

In particular, Rosneft and GE will continue to work together on projects operated by the Zvezda Shipbuilding Complex in the Russian Far East.

This cooperation effort includes a new plant to make steerable thrusters for ships and an enterprise to manufacture electro-technical marine equipment.

As part of their cooperation in the field of hydrocarbon production technologies, Rosneft and GE will proceed with launching the manufacture of wellhead and flowing wellhead equipment.

The companies will also launch a pilot project for remote monitoring and control equipment at the Ryazan Oil Refining Company's facilities. In addition, the program promotes cooperation in the production of liquefied natural gas.

GE and Itera Oil and Gas Company, a subsidiary of Rosneft, will continue to work on the first low-tonnage mini-LNG plant in Russia at Bratskecogas Company.

Also, Rosneft, GE and Transmashholding signed a letter of intent on the domestic production of GE V250 marine diesel engines in Penza for shipment onward to the Zvezda Shipbuilding Complex.

The first engines are expected to be supplied in early 2018. The engines will be serviced at Zvezda’s facilities.

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