OREANDA-NEWS. Rosneft and TMK have agreed to develop a long-term strategic partnership.

According to the press service of TMK, the agreement was signed on March 14 in Moscow by Sergey Kudryashov, first vice president at Rosneft, and Konstantin Semerikov, general director of TMK.

The long-term strategic partnership agreement has been signed for an initial period of three years with an option for extension. At a later stage, TMK and Rosneft will form a supervisory board to enable timely and quality decision making by both sides.

The partnership will ensure both medium and long-term coordination of the design and production of new types of pipes supplied by TMK to Rosneft for use in the oil and gas industry.