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Rosneft has signed a number of agreements to involve Chinese companies in capital construction procurement procedures

29 November 2021

Rosneft and a number of Chinese companies signed agreements on cooperation in the field of procurement procedures at the 3rd Russian-Chinese Energy Business Forum.

The main target of the model agreement is to develop long-term mutually beneficial cooperation and enable Chinese companies to participate in Rosneft's procurement procedures for construction of production facilities worth a total of RUB 760 bln. 

Under the document, the Company intends to inform Chinese suppliers and contractors of the commencement of procurement procedures capital construction facilities, as well as provide methodological support for participation in the procurement.

In accordance with the previously announced plans, Rosneft continues to develop its own upstream projects in Russia, increasing capital expenditures. In particular, in the north of the Krasnoyarsk region, Rosneft has launched Vostok Oil, one of the largest investment projects in the oil and gas industry. The resource base of the project is over 6 billion tons of premium low-sulphur oil. "Vostok Oil includes 52 license areas, within which 13 oil and gas fields are located.

In November, Rosneft completed a series of roadshows of the Vostok Oil project for foreign suppliers and contractors. In total, more than 760 people from 360 foreign organisations took part in the meetings. As a result, the Company received about 60 cooperation proposals.

Reference:

The Russian-Chinese Energy Business Forum is being held for the 3rd time. The event is an important platform for practical cooperation between Russia and China and is targeted at energy companies, related industries, financial organisations, industry associations, research structures and analytical centers.

Rosneft Department of Information and Advertising
29 November 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.