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Rosneft, Keppel and MH Wirth Establish Design and Engineering Center for Offshore Drilling Rigs

19 May 2016

Rosneft, Keppel Offshore & Marine and MH Wirth have signed shareholders’ agreement on establishing a Joint Venture (JV) for the creation of Design and Engineering Center for offshore drilling rigs in Russia.

The main tasks of the Center established by the JV (Rosneft – 45%, Keppel Offshore & Marine – 45%, MH Wirth – 10%) will be the design of drilling rigs for offshore work, engineering and commercial activity.

The agreement provides for design, engineering and commercial activity by the Center to support projects at the Zvezda Shipbuilding complex in Vladivostok as well as attraction of orders from other Russian and international companies. The Center will be also engaged in training in the area of engineering and design.

The document signed starts a new stage in the creation of the rigs for offshore exploration and production by Rosneft. The new Design and Engineering Center will contribute to the increase of the Company’s potential in the area of designing world-class offshore equipment.

Commenting on the signing, Rosneft Chairman of the Management Board Igor Sechin said: “We are pleased that it will be an international consortium to design the new equipment – created by Rosneft together with the world leading offshore rig designer and builder from Singapore, and a world leading supplier of drilling equipment and technologies from Norway. This project is an example of how the experience and technologies of the world’s market leaders may be used to meet the global challenges such as the development of the offshore oil and gas resources”.

Note for editors:

Keppel Offshore & Marine Ltd (Keppel O&M), a wholly-owned company of Keppel Corporation Limited, is a global leader in offshore rig design, construction and repair, ship repair and conversion, and specialised shipbuilding. It integrates and harnesses the experience and expertise of 20 yards and offices worldwide to be near customers and markets. Driven by innovation and a capable people with the Can Do! spirit, Keppel O&M strives to become a builder of distinction in every aspect of its business.
MHWirth is a leading global provider of first-class drilling solutions and services designed to offer its clients with the safer, more efficient and reliable alternative. The company vision is centered on an unparalleled commitment to quality and yielding economic advantages for its customers and stakeholders.

Rosneft information division
May 19, 2016

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.