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Rosneft Signed more than 50 Agreements at St. Petersburg International Economic Forum

24 May 2014

Interview of Rosneft President, Chairman of the Management Board Igor Sechin with Russia 24 TV channel in followup of Rosneft activities at XVIII St. Petersburg International Economic Forum.

During XVIII St. Petersburg International Economic Forum dedicated to the enforcement of trust in times of transformation, Rosneft signed record number of agreements, which extended previous agreements with Russian and foreign partners, and discovered new horizons of cooperation in all aspects of the Company activities.

Summing up the results of the Forum for the Company, Rosneft President, Chairman of the Management Board Igor Sechin called them ‘impressive from the point of view of discussed projects and reached agreements’. According to him, Rosneft designed and signed about 50 agreements during the forum. At that, despite difficult political atmosphere around the forum, none of the partners withdrew from Rosneft projects. ‘Everyone who rolled up, and with whom we cooperate came.’

Particularly, Igor Sechin considers the cooperation and investment agreement with Norwegian Seadrill, world’s leading oil service and shelf drilling company as the key one. According to him, integrating efforts of subsidiary RN-Bureniye and Seadrill will add more stability to Rosneft during exploration of shelf fields, and will make it independent from capacity shortage and market position. Igor Sechin also highlighted cooperation agreements with Mubadala Petroleum, State Oil Company of Azerbaijan Republic (SOCAR), Venezuelan PDSVA, agreement with ONGC on cooperation on the shelf, entrance into authorized capital of Pirelli, agreements with Russian regions and leading educational centers.

Oil and gas upstream

Rosneft and Mubadala Petroleum signed strategic cooperation agreement, which is to encourage the development of communication between the two companies in the region of exploration and production of hydrocarbons. Non-binding agreement provides for possible participation of Mubadala Petroleum in the development of Rosneft assets in Eastern Siberia, and participation of Rosneft in international projects of Mubadala Petroleum.

Rosneft and State Oil Company of Azerbaijan Republic (SOCAR) signed joint-venture agreement for oil and gas exploration and production projects in different jurisdictions, including Azerbaijan and Russia. The parties agreed upon creation of a joint venture on a parity basis, and to include shares of participation in producing assets in Russia, Azerbaijan, and third countries into its authorized capital. The list of assets will be agreed upon further.

Rosneft and Union CubaPetroleo (CUPET) signed Memorandum of Cooperation in the region of projects implementation within the territory of the Republic of Cuba. For the purpose of this Memorandum, there has been created a working group composed of field-oriented representatives of either Party.

Rosneft, North Atlantic Drilling Ltd., and Seadrill Limited signed investment and cooperation agreement for the creation of long-term partnership for the purpose of the development of sea and ground Rosneft projects for the period until at least 2022.

Safety on the continental shelf in the Arctic

As a Russian oil industry leader and largest publicly traded oil and gas company, Rosneft pays great attention to safety issues working in the Arctic shelf.

During the forum, Rosneft signed a cooperation agreement with Ministry of Emergency Situations of Russia in the region of protection of territories and population during exploration of hydrocarbon resources within the territorial sea, and on the continental shelf of the Russian Federation in the Arctic.

The Ministry of Transport of the Russian Federation and Rosneft agreed upon cooperation in the region of search and rescue of people in distress, prevention and control of possible emergency situations, including oil and oil products spillage within the territorial sea and on the continental shelf of the Russian Federation in the Arctic.

Rosneft also signed a cooperation agreement with Association of Polar Explorers in the region of exploration and development of the Arctic shelf of the Russian Federation. In accordance with an agreement, the parties shall take part in working parties, boards, committees, and other collegiate authorities, that will develop the program of integrated Arctic study, resulting in draw up of clear ecological regulations of shelf development, and principles of special regime for business activity in the region.

Tight oil production

Rosneft and BP Exploration Operating Company Limited signed basic terms for agreements on Domanic Formations. The agreement provides for joint implementation of a development program, and if successful, extraction of hard to recover reserves of Domanic Formations in the Volga-Ural region. The joint venture will be established within the jurisdiction of the Russian Federation with 51% owned by Rosneft and 49% by BP.


Rosneft and ExxonMobil signed an agreement to extend existing Strategic Agreement on implementation of the Far East LNG project. Engineering surveys on land and sea are scheduled for summer of 2014. Following the developed conceptual designs, completion of construction and placing in service of LNG plant, loading line, and off-shore facilities are scheduled for 2018-2019.

Igor Sechin and ExxonMobil Russia President Glenn Waller signed a service agreement regarding Sakhalin-1 consortium for drilling, extraction, preparation, transportation, storage, and loading of hydrocarbons extracted at the northern tip of the Chaivo field with the use of Sakhalin-1 consortium infrastructure subject to license specifications and joint engineering development scheme.

Rosneft and ALLTECH Group signed a framework cooperation agreement in regard to gas fields development project in the northern part of the Nenets Autonomous District. Among other issues, the document provides for the obligation by the parties to create a joint venture for the purposes of the development of gas business in the Nenets Autonomous District, the procedure and due dates of contributions to the joint venture and further funding of the project. ALLTECH Group will contribute to the joint venture companies owing licenses for the development of Korovinskoye and Kumzhinskoye gas condensate fields, and recoverable C1 and C2 gas reserves of about 160 billion cubic meters of gas. Rosneft group will receive the majority share in the joint venture.

Gas production and supply

Achievement of gas potential is one of strategic objectives of Rosneft. The Company is planning to expand its presence in the gas market, and is already actively developing this business line. By 2020, the Company is planning to produce 100 billion cubic meters of gas annually, doubling its share in the domestic gas market (up to about 20%). Rosneft and Fortum signed a long-term gas supply contract within St. Petersburg International Economic Forum. The document covers a period of 3 years, and is an additional agreement to the existing gas supply agreement for the period from 2014 till 2015. In 2013, Rosneft started supplying natural gas to Tyumen Central Heating and Power Plants of Fortum energy holding.

Besides, Rosneft, Rosneft subsidiary, Rusal, EuroSibEnergo, and Russian Machines group of companies concluded contracts for gas and oil products supply. Gas agreements cover the period until 2029, and provide for supplies of over 10 billion cubic meters of gas from Rosneft during this period.

Rosneft also concluded a 6-year contract for gas supply to EuroChem enterprises. The agreement provides for gas supply of up to 9.82 billion cubic meters until 31 December 2019. Concluded agreements form the basis for expansion of cooperation between gas companies.

Natural-gas-based motor fuel

Rosneft signed a cooperation agreement with Galileo S.A. for the purpose of increased use of natural gas as motor fuel in Russia.

The document provides for cooperation organization between the companies aimed at the development of use of natural gas as motor fuel in Russia, which will allow to increase economic efficiency, energy securing of transportation industry of the Russian Federation, and to increase use of green technologies.

Oil and oil products supply

Rosneft and ONGC Videsh Ltd signed signed a Memorandum of Understanding regarding cooperation in the region of geological examination, prospecting and exploration, and hydrocarbon production in the Arctic shelf of the Russian Federation. The parties will together explore the possibility of project cooperation as consortium headed by Rosneft and with attraction of other partners.

Rosneft subsidiary and PDVSA signed a long-term agreement for oil and oil products supply from Venezuelan company on a pre-paid basis. The document provides for supply of more than 1.6 million tons of oil and 7.5 million tons of oil products over the next 5 years. Preliminary payment for the contract will total 2 billion dollars.

Rosneft and PetroVietnam Oil Corporation signed an agreement, defining major terms for the beginning of long-term oil supplies to Zung Kuat oil refinery in Vietnam. The agreement provides for ESPO oil supply via Kozmino terminal in 2014-2039 up to 6 million tons annually after the final stage of plant modernization.

Rosneft signed two large 5-year contracts for oil products supply with leading Mongolian importers represented by MAGNAI TRADE and SHUNKHLAI. Total cost of delivery is 1 billion dollars, and volume of delivery within the contract will amount to 1 million tons. Delivery period is June 2014 - May 2019.

Rosneft also concluded a large 5-year contract for oil products to NIK company. Total cost of delivery is 1.3 billion dollars, and volume of delivery within the contract will amount to 1.2 million tons. Delivery period is June 2014 - May 2019.

Besides, Rosneft and Mongolian state petroleum agency signed a cooperation agreement. The agreement provides for joint evaluation of possibilities for the participation of the parties in promising infrastructure projects in the region of oil products supplies to Mongolia, and in the region of the development of oil and gas fields within the territory of Mongolia.

Rosneft and Rusal Global Management B.V. signed the cooperation agreement regarding oil products supplies. Particularly, the document provides for the development, testing, and implementation of lubricants and other oil products requested by Rusal group enterprises, and conclusion of delivery contracts for wide range of high-technology lubricants and technical fluids to secure industrial enterprises of Rusal group.

Rosneft and URALVAGONZAVOD concluded a partnership agreement in the region of oil products supplies. The agreement provides for joint scientific research in the region of development, testing, and implementation of high-technology lubricants. Besides, Rosneft experts are to carry out the analysis with further implementation into processing chain requested by URALVAGONZAVOD enterprises.

Rosneft and Pietro Barbaro Group signed provisional terms of agreement on acquisition of 95% share of Prime Shipping group of companies, which provides transportation of oil and oil products by inland water-ways of the Russian Federation and adjacent seas.

In the course framework cooperation agreement between Rosneft and Pirelli & C. S.p.A. of 19 December 2012, the companies signed agreement of understanding defining areas of cooperation within the framework of joint marketing projects in Rosneft retail chain.


In the course of St. Petersburg International Economic Forum, Rosneft subsidiary and SANORS Holding Limited signed agreement of sale and purchase, according to which Rosneft acquired enterprises of SANORS group of companies. The document implies Rosneft’s purchase of 100% stocks of Novokuibyshev Petrochemical Company. The transaction is to be completed by third quarter of 2014 after fulfillment of number of preconditions, including obtaining permits of anti-monopoly and other regulatory authorities.

Rosneft and Ministry of the Development of the Russian Far East signed a cooperation agreement for socio-economic development of the regions of the Far Eastern Federal District. According to the agreement, the parties intend to foster cooperation within Primorsk Territory for implementation of investment project devoted to construction of Eastern Petroleum Company, oil refining and petrochemical plant with working capacity up to 30 million per year of raw hydrocarbons subject to public private partnership. To create conditions for implementation of Eastern Petroleum Company project, which are aimed at improvement of investment climate, the parties agreed upon examination of an issue concerning measures of State support as required by law, particularly, by including certain objects of outer infrastructure and objects of social infrastructure under EPC project into a project of the Federal target Program ‘Economic and social development of the Far East and Baikal region for a period until 2025’.

Rosneft and Pirelli signed Memorandum of Understanding regarding production and delivery of redox rubber in Nakhodka within Far East Petrochemical Company project. The Memorandum was signed in the presence of President of the Russian Federation Vladimir Putin. According to Memorandum, Russian and Italian parties declare their intention to consider using petrochemical cluster of Far East Petrochemical Company in Nakhodka for the production of redox rubber, also for supplies to its own Pirelli tyre facilities in Asia-Pacific Region. Rosneft and Pirelli also intend to carry out research and development activities in this area in Nakhodka.

Technology solutions and innovations

Rosneft and General Electric signed an agreement for technological cooperation in elaboration of the initiative regarding the creation of research and development center. According to the agreement, there have been agreed upon mechanism of entering into particular agreements regarding implementation of Research and Advanced Development. Currently, Rosneft and GE have agreed general terms of creation of a joint center for forefront research and high technologies in Moscow.

Rosneft and Alstom signed memorandum of intentions, extending their cooperation in the region of electrical energy. The memorandum provides for opportunities for different solutions and products of electrical generation, industrial automation, and emission control of Alstom to Rosneft facilities.

Rosneft and Highways (Avtodor) signed a cooperation agreement. The document particularly provides for cooperation within the development of new solutions in the region of roadside infrastructure, creation and implementation of high quality innovative materials in the region of construction, maintenance, and repair of roads. The agreement also provides for coordination of Rosneft and Highways efforts in preparation of offers for improvement of regulatory framework and normative-technical framework in defined areas.

The agreements signed at St. Petersburg International Economic Forum also provide for:

  • cooperation with Ministry of Emergency Situations in the region of scientific research in the region of development and implementation of new equipment and technologies aimed at emergency prevention and relief;
  • organization and carrying out scientific and environmental expeditions in the far North with Association of Polar Explorers;
  • Rosneft and Pirelli intend to carry out research and development activities in the region of redox rubber production in Nakhodka;
  • joint scientific research with Rusal group regarding development and implementation of modern solutions in the region of lubricants;
  • joint scientific research with URALVAGONZAVOD regarding development, production, and implementation of modern solutions in the region of lubricants.

Regional cooperation

Within XVIII St. Petersburg International Economic Forum, Rosneft President, Chairman of the Management Board Igor Sechin and governors of subjects of the Russian Federation (Republic of Karelia, Republic of Dagestan, Republic of Ingushetia, Irkutsk, Kostroma, Orenburg, Samara, Sakhalin, Tyumen regions, Khanty-Mansiysk Autonomous District-Yugra, Nenets Autonomous District, Zabaykalsky Krai) signed agreements for cooperation between the Company and the Governments of the Russian federation subjects. The agreements consider interaction of the Parties in the region of a number of specialized programs, including industrial, financial, investment and social ones. These agreements will contribute to the creation of favorable economic, legal and organizational conditions for integrated development of the regions, and to business activities of the Company within Russian Federation subjects.

Besides, the Company signed cooperation agreement in the industry of manufacturing industry, finance, economics, investment activities, and social development with Moscow Mayor’s Office. The document provides for foundations of cooperation between Rosneft and Moscow Mayor’s Office, promoting the integrated development of Moscow, creation of favorable economic, legal and organizational conditions for business activities of the Company in Moscow, and other issues to strike a balance of mutual interests. Particularly, the agreement provides for implementation of Rosneft investment projects in Moscow with the use of innovative technologies aimed at reduction of negative environmental impact and/or rational use of natural resources. Besides, according to the agreement, the Company is planning to meet the demands of economic complex of Moscow in oil products, and cooperation between Moscow Government and Rosneft in the region of urban development and the development of sports infrastructure of Moscow.

Educational institutions

During the forum, Rosneft signed cooperation agreements with three universities, including Gubkin Russian State University of Oil and Gas, St. Petersburg Academic University, and Moscow State University of Foreign Affairs. The agreements provide for training on the basis of these universities of specialists in areas of the Company interest, carrying out of fundamental scientific research, Research and Advanced Development, design works, and scientific and technical expertise under agreements with the Company, its subsidiaries, and affiliated companies, and cooperation under implementation of an innovation-based development program. Teachers and experts of these universities shall take part in pre-university support program carried out by the Company in its presence regions, particularly on the basis of Rosneft classes.

Rosneft in turn shall provide students, postgraduates, and teachers with an opportunity to undertake long-term internships, on-the-job training, externship, and research-and-development internship in the Company, provide corporate scholarships for students, nominal grants for teachers and scientific workers. These universities will also gain support in the development of material and technical basis, carrying out of research studies, acquisition of educational and knowledge intensive equipment.

Rosneft signed an agreement with Gubkin Russian State University of Oil and Gas providing for educational payment for master's programmes of employees of national Cuban oil company Union Cuba Petroleo (CUPET) by Rosneft.

Rosneft also signed an agreement with the Foundation for the Support of Education and Science (the Alferov Foundation) for organization of contests in Rosneft classes to discover most talented students in mathematics, physics, and informatics, and for further education in vocational school ‘School of Physics and Technology’, and support of Company contests for carrying out of research studies and works, attraction of best innovative technologies.

Review of Energy Provider’s Summit “Oil and Gas Companies are the World Economy’s “Motor of Changes”. XVIII St.Petersburg International Economic Forum, 2014

Interview of Rosneft President, Chairman of the Management Board Igor Sechin with Russia 24 TV channel in followup of Rosneft activities at XVIII St. Petersburg International Economic Forum.

Information Division,
May 24, 2014