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Vostokproektverf and DSEC Co.,Ltd with Support of Rosneft Establish Joint Venture

08 September 2017

The Far Eastern Design Institute Vostokproektverf, a subsidiary of the Far Eastern Shipbuilding and Repair Center (FESRC), and DSEC Co., Ltd, a major partner of Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) signed a Joint Venture Agreement. 

The document follows the Memorandum of Understanding signed on September 03, 2017 which outlined the possibilities for the parties to develop their cooperation. 

As per the new Agreement, the Joint Venture will provide design, engineering, procurement, management, and supervision services in shipyard construction. The parties also intend to jointly complete design and associated activities for the Zvezda Shipyard.

The experience and competencies gained through cooperation with DSEC, a South Korean engineering company with a unique expertise, will enable optimization of such processes as shipyard designing and procurement of relevant construction equipment, as well as a higher efficiency of investments into establishment of shipyards. This will maximize the economic effect from implementation of the Zvezda Shipbuilding Complex Construction Project.

Notes for editors:

The Far Eastern Design Institute Vostokproektverf became a part of the Far Eastern Shipbuilding and Ship Repair Center in April 2010. The Institute staff includes skilled designers developing comprehensive design packages for construction and refurbishment projects in various areas. The Institute also has an extensive production base and up-to-date plant and machinery.

DSEC is the key partner of DSME and the only shipbuilding company in Korea with engineering competencies for construction, support, and consulting of modern shipyards in Europe, Middle East and Southeast Asia. It has a track record of shipyard construction and implementation of shipbuilding technologies in other countries (USA, Angola, Spain, UK, Oman, Romania, China).

The South Korean company Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) is acknowledged as the world leader in civil and naval shipbuilding. 

Rosneft Information Division
tel.: + 7 (499) 517-88-97
8 September 2017

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.