Hydrocarbon Processing Copying and distributing are prohibited without permission of the publisher
Email a friend
  • Please enter a maximum of 5 recipients. Use ; to separate more than one email address.



Technip to form downstream engineering venture with Russian group Rostec

03.01.2013  | 

The joint venture agreement, aimed at improving the construction and renovation of refining and petrochemical units in Russia, was signed with Rostec subsidiary Rustechexport. The two companies are also aiming to establish a joint venture to manufacture flexible pipelines and umbilicals in Russia.

Keywords:

France-based Technip will form a jointly-owned company with State Corporation Russian Technologies (Rostec) to provide engineering, design, and turnkey construction for oil refinery, petrochemical and gas chemical production projects in Russia, officials said on Friday.

The joint venture agreement, aimed at improving the construction and renovation of refining and petrochemical units in Russia, was signed with Rostec subsidiary Rustechexport.

 "The agreement signed with Rustechexport regarding onshore activities is completely in line with our business strategy of focusing on developing our strengths, notably engineering and project management capabilities as well as project delivery skills," said chief operating officer Philippe Barril.

The deal includes facilities required for offshore oil field operations.

"Cooperation with Rostec offers new business development opportunities for Technip in the Russian oil and gas market," said Technip CEO Thierry Pilenko. "We are delighted to reinforce a long-term industrial footprint in the country."

The two companies are also aiming to establish a joint venture to manufacture flexible pipelines and umbilicals in Russia. These would be used in the Russian Arctic and Black Sea for use in water depths up to 3000 meters.

The agreements were signed during an official meeting between François Hollande, President of the French Republic, and Vladimir Putin, President of the Russian Federation, held Thursday in Moscow, Russia.



Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Related articles

FEATURED EVENT



Sign-up for the Free Daily HP Enewsletter!

Boxscore Database

A searchable database of project activity in the global hydrocarbon processing industry

Poll

Should the US allow exports of crude oil? (At present, US companies can export refined products derived from crude but not the raw crude itself.)


70%

30%




View previous results

Popular Searches

Please read our Term and Conditions and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2014 Hydrocarbon Processing. © 2014 Gulf Publishing Company.