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Rosneft & Moscow Region Signed Cooperation Agreement

Source: www.gulfoilandgas.com 6/21/2012, Location: Asia

In St Petersburg I. Sechin, Rosneft President, and S. Shoigu, Moscow Region Governor, signed an agreement for strengthening comprehensive cooperation under social, economic, industrial and infrastructural projects for the Moscow Region development.

The Agreement provides for implementation of significant social and economic projects in the Moscow Region. The Moscow Region petroleum products supply system is one of the largest in the Russian Federation in terms of sales and the number of participants. In view of the above, the parties came to the agreement on possible construction in the territory of a refinery with a capacity of up to 12 mln tonnes of oil a year. The refinery will produce Euro-5 motor and aviation fuel, as well as over 500 thousand tons of modern modified bitumen for highway construction and repair.

Construction of the modern maintainable oil refinery will foster creation of the stable supply system for Moscow and the Moscow Region to provide with quality petroleum products meeting environmental requirements, as well as ensure additional tax revenues for the regional budget.

The region is densely populated and highly environmentally sensitive. It was taken into account in the oil refinery design and construction, namely: process solutions meeting the highest industrial and environmental safety requirements, including technology of the new generation (up-to-date and reliable oil refining systems minimizing the environmental impact), will be put in place.

The Agreement also provides for expansion of Rosneft oil tank farm and operating filling stations network across the Moscow Region.

In addition, Rosneft as the General Sponsor of CSKA PHC will consider construction of a multi-purpose ice stadium of CSKA, that will meet the most recent requirements to holding of Russian and international contests, in the Moscow Region. As part of the complex, it is envisaged to build the Olympic Reserve School infrastructure. When implemented, the sports project of such a scale would not only allow the legendary hockey club to have the necessary training facilities, but also help to nurture the young generation of players in the best hockey traditions, and to develop sports for children in general.

The planned Rosneft and the Moscow Region joint efforts are designed to facilitate social and economic development of the Moscow Region areas and towns, including renewal of the infrastructure and creation of new jobs.

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