OREANDA-NEWS. September 24, 2014. Rosneft and SIBUR signed a long-term agreement of cooperation in the sphere of development, testing and industrial introduction of lubricating materials and oil products.

Under the agreement the parties will evaluate the demand of lubricating materials and oil products of the production facilities of the petrochemical holding. Moreover the companies will work jointly on the development of new lubricating materials, which will meet SIBUR’s industrial facilities requirements.

The parties also plan to conduct development of joint projects aimed at the substitution of imported products in the sphere of oil products supply.

Moreover, Rosneft and SIBUR will cooperate in the sphere of trainings and technical consultations to improve the staff competences in the sphere of innovative approaches to oil products supply and to the production of lubricating materials and.

The agreement is valid during 5 years and it may be prolonged by agreement between the parties.