Rosneft enters two long-term tubular supply contracts

Russian oil giant Rosneft has signed long-term tubular supply contracts with Tubular Metallurgical Company (TMK) and with Chelyabinsk Pipe Rolling Plant (ChelPipe) at the 21st St. Petersburg International Economic Forum, which is being held from June 1-3.  

Both formula pricing based long-term contract terms are over five years and tubular supplies from both contracts will start in the second half of this year, Rosneft said on Friday.

The documents were signed by Rosneft Chief Executive Officer Igor Sechin and chairmen of board of directors of the two companies, Dmitry Pumpyanskiy at TMK and Andrey Komarov at ChelPipe.

Commenting on the production casting and tubing supply contract signing with TMK, Sechin said, “The agreement shall stimulate development of domestic production and become an important step in implementing the import substitution program. Moving to long-term contracts will enable enhancing efficiency of both companies’ operations and assure transparent pricing of the procured tubulars.”

Last December, Rosneft and TMK signed a Memorandum of Partnership in implementing a program for tubular products substitution for offshore projects. Within the cooperation framework, the pair will explore an opportunity of using the TMK’s current products for Rosneft’s offshore projects, as well as manufacturing new types of tubulars based on the order of the oil company.

Upon signing the long-term contract with ChelPipe, Sechin said that the cooperation with one of Russia’s largest petroleum tubular manufacturers will improve the profitability of the company’s business.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2018 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

4th Oil and Gas Tanzania 2018 Products & Eqpt. Exhibition in Africa

It is truly remarkable how East Africa, and specifically Tanzania has in a short period of time become the main…

read more >

SPE Asia Pacific Oil & Gas Conference and Exhibition 2018

As the energy industry adapts to a new status quo operating under sustained low oil prices, there continues to be a need for the industry…

read more >

RIO OIL & GAS 2018

The leading oil and gas event in Latin America is organized every two years by the Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >

FPSO World Congress 2018

This year’s FPSO World Congress will tap on this green shoots of recovery and will focus on practical strategies to address key project…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply