Rosneft, GE Sign Technology Cooperation Deal

Russia’s Rosneft and US General Electric strengthen their science and technology cooperation on Tuesday. The company led by Igor Sechin, a close ally of President Vladimir Putin, continues its hunt for partners to increase its technological know-how. 

The new agreement signed in the presence of the Prime Minister Dmitry Medvedev will allow Rosneft to gain ground both in the oil and gas sectors. General Electric will also provide training on application engineering and other technical topics to lift prospects of Rosneft’s LNG and CNG assets.

The deal also opens the door to a joint research and development centre.

“The implementation of the project will allow Rosneft and General Electric to create unique engineering and R&D technology hubs in Russia,” Sechin commented on the signing. 

In early December, Rosneft signed a Memorandum of Understanding with Pirelli for joint research and development activities.