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Rosneft and Indian petroleum majors agreed on cooperation in education and training

06 December 2021

Rosneft and ONGC Videsh Ltd., acting as a coordinator of Oil India Limited, Indian Oil Corporation Limited, Bharat PetroResources Limited and Hindustan Petroleum Corporation Limited companies, entered into an agreement to develop cooperation in education and training.

The document was signed by Chief Executive Officer of Rosneft Igor Sechin and Managing Director, Chief Executive Officer of ONGC Videsh Ltd. Alok Kumar Gupta during the visit of the President of the Russian Federation Vladimir Putin to India.

The agreement builds on the successful cooperation between the Parties in the field of education and is part of the comprehensive cooperation between the companies in the oil and gas sector.

The unified corporate training system of Rosneft covers all categories of personnel and lines of business. Lecturers from the best Russian and foreign universities, as well as educational and consulting companies are involved in the training. Training programs are adapted to meet the Company's current and strategic objectives.

As part of the concluded agreement, it is planned to arrange training for employees of Rosneft and Indian companies on the basis of educational organizations in Russia and India, including the corporate training centers of Rosneft and Indian companies.

The agreement provides for sharing knowledge and experience, including in such areas as geology and exploration, drilling and well logging, reservoir engineering and production, offshore fields development and operation, oil refining and petrochemicals.

Training will also be conducted in such areas as commerce and logistics, environmental safety, industrial safety and occupational safety, international projects management, preparation and implementation of concession agreements and projects, production processes automation, and investment governance.

Rosneft and ONGC Videsh signed a five-year Agreement on Cooperation in the educational sphere during the BRICS summit in 2016. As part of the Agreement, bilateral training programs for employees of the Company and Group Companies in India were successfully implemented during 2018-2019 in such areas as HSE, offshore operations and technology control. Employees of Indian companies were also trained in Russia on "Production stimulation and oil recovery enhancement at oil fields".

Rosneft is actively developing the integral format of cooperation with the Indian partners across the entire technological chain – from production to oil refining and sales of petroleum products.  Since 2016, Indian companies (ONGC Videsh Ltd., Oil India Limited, Indian Oil Corporation and Bharat Petroresources) have been holding a 49.9% stake in Vankorneft Subsidiary. This entity, located in Krasnoyarsk Territory, is developing the Vankor oil and gas condensate field - the largest of the discovered and commissioned in Russia over the past twenty-five years.

The Consortium of Indian companies (Oil India Limited, Indian Oil Corporation и Bharat Petroresources) also owns a 29.9% stake in Taas-Yuryakh Neftegazodobycha, which holds licenses for the Central Block of the Srednebotuobinskoye field and the Kurungsky license area (the other shareholders are Rosneft and BP).

Since 2001, the Indian company ONGC Videsh Ltd. has been a participant in the Sakhalin-1 project (the other shareholders are Rosneft, ExxonMobil, and Japanese Sodeco). In 2020, the project produced 12.4 million tons of oil and condensate, and supplied more than 2.4 billion cubic meters of gas to consumers.

Rosneft holds a stake (49.13%) in the Indian company Nayara Energy, which has first-class assets, including a refinery in the city of Vadinar with a throughput of 20 million tons per year. The refinery is the second largest in India and one of the most technologically advanced in the world. Nayara Energy's business also includes a deepwater port that can accommodate ultra-large VLCC-class tankers and one of India's largest retail chains. Nayara Energy intends to further expand its retail network, to bring the amount of retail sites to 8 thousand in the 3 forthcoming years.

Rosneft Department of Information and Advertising
6 December 2021

These materials contain statements regarding future events and expectations that are forward-looking estimates. Any statement in these materials that is not historical information constitutes a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by these forward-looking statements. We do not undertake any obligation to update the data contained herein to reflect actual results, changes in underlying assumptions or factors affecting the forward-looking statements.