Technip finalizes two agreements with RostecCompany News // March 4, 2013
Technip signed two agreements with State Corporation Russian Technologies (Rostec) during the official meeting between François Hollande, President of the French Republic, and Vladimir Putin, President of the Russian Federation.
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.
Under the terms of this memorandum, 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. It allows to produce oil and gas at the depth of down to 3,000 meters and provides for speedy pipe laying operations.
They will also intend to evaluate the possibility of establishing a research and development centre.
Another agreement was executed between Technip and Rustechexport, another company operating under the umbrella of Rostec, whereby the parties set forth the main terms and conditions for a jointly-owned company they intend to establish 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.