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Rosneft and Rostec agree to cooperate in the production of synthetic proppants

07 June 2019

During the XXIII St. Petersburg International Economic Forum, Rosneft and State Corporation Rostec signed an agreement of intent to cooperate in the production of synthetic proppants.

The document was signed by Andrey Shishkin, Rosneft Vice President for Energy, Localization and Innovations and Maxim Vybornykh, Deputy General Director of Rostec.

The parties are planning to work out a project for the production of synthetic proppants and the sale of the products to Rosneft subsidiaries and other oil and gas enterprises in Russia and abroad.

The technology of proppants production was developed by Rosneft together with State Corporation Rostec. The Company has successfully accomplished research and development (R&D) which delivered batches of synthetic proppants for pilot testing at Rosneft oil production facilities.

According to the agreement, the industrial sites of Rostec are going to accommodate series production of synthetic proppants.

For reference:

State Corporation Rostec is one of the largest industrial companies in Russia and incorporates more than 700 scientific and industrial enterprises in 60 regions of the country. Its key business is transport engineering, electronics, medical technology, chemistry and innovative materials.

Rostec makes partnerships with leading global manufacturers. Products of the corporation are supplied to more than 100 countries of the world. Almost a third of the company's revenue is received from the export of high-tech products.

Information Division
Rosneft Oil Company
tel.: + 7 (499) 517-88-97
7
June 2019

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.