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France and Russia sign agreement for manufacture of subsea equipment
A French engineering and construction firm for the energy industry, Technip, has announced that it has signed two agreements with State Corporation Russian Technologies (Rostec) during the official meeting between French president François Hollande and Russian president Vladimir Putin held in Moscow at the end of last week.
The agreements aim at manufacturing flexible pipes and umbilicals in Russia, for the Arctic region and the Black Sea oil fields, as well as at the construction and renovation of refining and petrochemical units in Russia.
Technip and RT-Chemcomposite Holding Company, a Rostec subsidiary, signed a memorandum of understanding to express their intention to form a joint-venture (JV) company for subsea activities in Russia.
The joint venture is a cooperation in the production of equipment for the oil and gas industry and in particular flexible composite pipes based on Technip’s technology. The company provides equipment that enables the production of oil and gas at a depth of down to 3,000 meters and can facilitate speedy pipe laying operations. They also intend to evaluate the possibility of establishing a research and development centre.
Offshore oil and gas production
A second agreement has also been executed between Technip and Rustechexport, another company operating under the umbrella of Rostec. With terms agreed to form a jointly owned company, they intend to provide engineering, design, and turnkey construction for oil refinery, petrochemical and gas chemical production projects in Russia, including the facilities required for offshore oil field operations.
Sergey Chemezov, CEO of Rostec, said: “With the creation of this JV, we are launching the production of state-of-the-art high-technology equipment for oil and gas industry at Rostec plants and other Russian manufacturers. The use of technologies owned by Rostec for the purposes of oil and gas industry will ensure diversification of their activities and create new jobs.”