Rosneft and Exxon Neftegas Limited to review Zvezda shipyard’s technical capabilities and development plans

According to the document, the parties will exchange information on the Zvezda shipyard’s shipbuilding capabilities, on the Sakhalin-1 Project’s technical requirements for oil tankers and the Project’s future requirement for that type of vessels.

By signing the Joint Protocol, Rosneft begins implementation its intention to develop a manufacturing facility on the basis of the Zvezda for potentially participating in renovation of oil tankers fleet of Sakhalin-1 oil and gas Project.

Zvezda shipbuilding complex is being established jointly by the Consortium of Rosneftegaz, Rosneft and GazpromBank at the premises of the Far East Shipbuilding and Ship Repair Center. The Pilot Scope of Work for the shipyard will be provided by Rosneft that has an exclusive agreement with FESRC regarding placement of all the orders for manufacturing of new marine equipment and vessels at its facilities, as well as contracts for design, construction and delivery of multi-purpose supply vessels of the reinforced ice-class.

Rosneft endeavors best efforts to implement the shipyard construction project. With a view to ensure whole new shipbuilding and marine equipment construction technologies, the Company engages types of equipment which have not been previously used at Russian shipyards.

Sakhalin-1 is the first large-scale offshore project in Russia being implemented under the PSA conditions (concluded in 1996). Project participation shares: Rosneft – 20%, ExxonMobil – 30%, SODECO – 30%, ONGC Videsh Ltd. – 20%.

Exxon Neftegas Limited is a subsidiary of US-based ExxonMobil Corporation and Project Operator.