News

May 27, 2014

Partnership Agreement Made Between Rosneft and UVZ

At the conclusion of the St. Petersburg International Economic Forum, Rosneft and UVZ made the partnership agreement for the oil products supply. The agreement was signed by Igor Sechin, the President and Chairman of the Board of Rosneft Oil Company (JSC), and by Oleg Sienko, the CEO of the UralVagonZavod JSC (Research and Production Corporation).

The Agreement makes it a purpose to conduct research aimed at developing, producing and introducing high-tech lubricants. Moreover, Rosneft experts are expected to conduct an analysis to further put into operation the products which are in great demand by UVZ companies.

After the Agreement was signed Igor Sechin noted: ‘We are happy to have signed the agreements that will foster the strategic cooperation with Russia’s leading industrial holding. The agreements we signed will enable Rosneft to continuously supply lubricants for the corporation’s entities on favourable financial conditions. We believe that considering the challenges our companies are facing in the present-day economic and political environments, we need to pool our efforts to make the domestic manufacture more competitive.’

Oleg Sienko said: ‘We are taking a favourable view of the prospects for cooperation with Rosneft. The packaged solutions of industrial oil products supply will enable to decrease operating costs. We also make it our plan to develop joint import substitution programmes, with approval to be sought from the equipment manufacturers. Such an approach suits the interests of the domestic industry to the fullest extent.’

 

Rosneft Oil Company (JSC) ranks first in the list of the Russian oil companies, and is one of the world’s largest public oil and gas companies. Rosneft Oil Company is primarily engaged in the search and exploration of hydrocarbon deposits, production of oil, gas and gas condensate, implementation of projects to develop offshore fields, processing of the raw materials extracted, sale of oil, gas and their derivatives in and outside Russia, investment business. Rosneft is one of Russia’s principal investors and Russia's major taxpayer. Rosneft Oil Company regards environmental liability as its founding business principle.

UralVagonZavod JSC (Research and Production Corporation) is one of Russia’s largest research-and-production facilities. For many years, UralVagonZavod has been a leader in the domestic railway freight engineering, with a high technological and intellectual potential. UralVagonZavod is in charge of the integrated structure to include over 30 industrial facilities, R&D institutes and design offices across Russia and Europe. The complex comprises metallurgical, carriage and mechanical assembly, repair-and-mechanical, tool-making and other facilities to ensure a closed cycle of the product output. The four design offices, including the freight carriage building being principal in the field, and the two institutes enable the corporation to master state-of-the-art technologies, to efficiently develop and commercialise new models of vehicles and specialised machinery.

Photos Courtesy of the press service of Rosneft Oil Company (JSC)