OREANDA-NEWS. Vadim Yakovlev, First Deputy CEO, Gazprom Neft, and Lance Marklinger, President, Global Sales, Weatherford International have signed a Technological Cooperation Agreement at this year’s St Petersburg International Economic Forum. The Agreement, targeted at developing future cooperation between the two companies, will run for a period of five years.

Under the framework of the signed agreement the parties intend to organise a system for sharing information on new technologies, as well as launching and monitoring joint projects on new solutions aimed at improving the efficiency of both companies. In addition to this, Weatherford has also confirmed its willingness to organise technical seminars and training courses on the basics of using these technologies for Gazprom Neft specialists.

Gazprom Neft First Deputy CEO Vadim Yakovlev commented: “Gazprom Neft’s continuous steps in improving its own efficiency envisage applying innovations at all stages of the production process. In developing technological competencies an integral part of our work involves engendering a culture of continuous improvement, and applying the latest technologies. The Agreement with Weatherford, directed at implementing cutting-edge developments in oilfield services, should ensure synergies in making use of the R&D and production potential — as well as the experience — of both our companies.”