Lamor Corporation & Rosneft Sign Cooperation Agreement

Source: www.gulfoilandgas.com 3/31/2017, Location: Asia

Lamor Corporation and the Russian oil giant Rosneft signed a Cooperation Agreement at the IV International Arctic Forum, in Arkhangelsk, Russia. The partnership will evaluate prospects of localizing production of oil spill response (OSR) equipment and machinery in Russia for the Arctic region. Localization of production is forecasted to be at least 70% by 2025, and the equipment will be manufactured at a Rosneft shipbuilding facility. The parties aim to establish joint production of specialized floating crafts, equipment for oil spill recovery at sea and on land, oil containment booms, as well as other equipment and components.

“We are very pleased to team up with Rosneft. As long-standing partners, we have been supplying OSR equipment for Rosneft’s production assets for the past 20 years,” stated Fred Larsen, President and CEO of Lamor Corporation.

“We have service centers in Russia to provide maintenance and support for OSR equipment, Ecoshelf in Sakhalin and Ecoshelf-Baltika in St. Petersburg, that have been in operation for 18 years. Joint production with Rosneft takes our presence in the Russian market to another level,” said Larsen.


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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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