OREANDA-NEWS. April 09, 2010. SCF Group (Sovcomflot) and PDV Marina, a subsidiary of one of the world’s largest national oil and gas companies – Petroleos de Venezuela S.A. (PDVSA), signed an Agreement on cooperation in Caracas on 2 April 2010. The official signing ceremony took place as a part of the visit of Russia’s Prime Minister Vladimir Putin to the Bolivarian Republic of Venezuela.

On behalf of SCF Group the signing ceremony was attended by the Sovcomflot President and CEO Sergey Frank and the President of Novoship (member of SCF Group), Igor Tonkovidov.

The Agreement addresses the development of mutually beneficial cooperation between the two companies in arranging seaborne transportation of the Venezuelan oil, and, in the future, gas too.

The Agreement envisages, in particular, the setting up of a joint venture between PDV Marina and one of the SCF Group companies; the organising of joint commercial operations of Aframax and MR fleets (in which SCF Group holds the leading positions in the World). In time it is also planned to expand cooperation into other segments of oil tankers, gas tankers and chemical carriers, as well as developing other possibilities to increase the effectiveness of fleet operations in the Venezuelan market and thereby optimize Venezuelan export cargoes.

The model for the two companies’ cooperation envisages the application of Russia’s shipbuilding capabilities, in particular the use of the existing assets of the United Shipbuilding Corporation (OSC) and their facilities for construction. It is planned that SCF Group will assist Venezuelan seafarers and engineers by developing their maritime education and practical training on board the Group’s vessels and in Russia’s leading maritime academies, supported by Sovcomflot and Novoship.

Sergey Frank noted: “Russian and Venezuelan companies have much positive experience in seaborne energy transportation. Traditionally Venezuelan operations were served by the ships of the Novorossiysk Shipping Company (Novoship). In view of Venezuela’s expansion in volume and geography in export deliveries of hydrocarbons, we see prospects for the development of greater mutually beneficial cooperation. We are also pleased to offer the advantage of using Russia’s shipbuilding and the country’s maritime education”.

PDV Marina – is a subsidiary of one of the world’s largest national oil and gas companies – Petroleos de Venezuela S.A. (PDVSA). It was established in 1990 with a view to provide for a safe and economical and reliable seaborne transportation of hydrocarbon crude and its derivatives. To reach this goal the company develops cooperation with major A-class shipping companies in the form of alliances, pools and joint ventures.

Oil and gas industry of Venezuela – by the end of 2009 the proved reserves of Venezuelan oil amounted to 11.2 billion tonnes (7 per cent of the world’s reserves), gas – 4.1 trillion of cubic metres (second place in the Western hemisphere after the USA). According to a major brokering company – Clarkson’s, production of oil in Venezuela in 2009 reached 2.2 million barrels a day, and the seaborne export – 1.4 million barrels a day.

Sovcomflot (SCF) Group –is one of Russia’s largest infrastructure enterprises. Its fleet comprises 148 vessels of more than 10 million tonnes (dwt) in total; its current shipbuilding portfolio includes 11 ships of an aggregate deadweight of 0.85 million tonnes (dwt);

• The average age of vessels in the tanker fleet is less than seven years (the world average age is 12 years);
• SCF Group is a world leader in the product carrier segment; it is the second largest in the Aframax tanker segment and the fourth largest in the Suezmax tanker sector;
• The company owns the largest ice-class fleet, being No.1 in the segment of the Arctic shuttle tankers and ice-classed LNG tankers;
• The Group’s services include not only transporting hydrocarbons for its customers, but also trans-shipping crude oil via FSO facilities, terminal management and developing effective logistics for transporting energy, and providing supply vessels services to drilling rigs and offshore platforms.