OREANDA-NEWS. Rosneft and the Sovcomflot group of companies reached agreements on the formation of a joint company to service Rosneft’s shelf projects. The company will be formed on the basis of Rosnefteflot (a Rosneft subsidiary).

According to Rosneft’s management, collaboration between the two companies will be effective in particular because of Sovcomflot’s large practical experience in transporting energy resources, which is obviously in demand at Rosneft’s Arctic and Far East projects.

Sovcomflot, which is actively expanding its business in Russia, believes that this new project will become an important part of a portfolio already containing Far East and Arctic marine hydrocarbon transport and servicing projects, such as Sakhalin-1, Sakhalin-2, Varandei and Prirazlomnoye.