Rosneft and Siemens AG signed a Cooperation and Partnership Agreement. The document was signed by Rosneft Chairman of the Management Board Igor Sechin and Siemens AG Chairman of the Management Board Joe Kaeser. The agreement provides for the companies to study opportunities for cooperation in the development of technical solutions and manufacturing allocation of equipment for the fuel and energy sector.

Areas of cooperation include projects of hydrocarbon production, refining and transportation, as well as shipbuilding. In particular, the parties plan to cooperate in the area of development and application of energy-efficient technologies for oilfields and refineries, such as heat recovery systems, variable speed drives and modernized power networks («Smart Grid» systems), compressors for onshore and offshore fields. The cooperation also provides for participation of Siemens specialists in application of solutions for the management of distribution networks to be used in oil production and refining.

The parties also agreed on assessment of the potential for joint activities in the area of innovative solutions for shipbuilding. It includes the possibility of implementation of a "digital" shipyard concept, as well as projects of development of submarine power systems, floating production, storage and offloading units (FPSO). The agreement also provides for cooperation between the companies in upgrading Rosneft's tank farms and commodity parks.

Commenting on the agreement signed, Rosneft Chairman of the Management Board Igor Sechin, said: "Cooperation with Siemens, one of the world leaders in the area of electronics, electric engineering and equipment manufacturing for fuel and energy sector, will enable Rosneft to enhance operational efficiency of its enterprises. In perspective we intend to implement a joint manufacturing of high-tech equipment for oil production, refining and transportation as well as for offshore development. The joint projects will have a significant synergetic effect both for engineering and the country’s fuel and energy sector".

"The agreement signed today reinforces the mutual intention of the companies to develop cooperation in such an important area of the economy, as the oil and gas industry. We believe that the use of modern technologies of Siemens at Rosneft facilities will contribute to the modernization of the industry in general and increase the efficiency of individual projects, "- said Joe Kaeser.

Information Policy Division
of Rosneft
tel.: + 7 (499) 517-88-97
March 24, 2016