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2014-03-24 07:00:00

ROSNEFT INVITES NOV

ROSNEFT INVITES NOV

OGPE. Rosneft (MOEX: ROSN) has invited National Oilwell Varco (NOV) to jointly manufacture offshore drilling platforms at OJSC Zvezda Far Eastern Yard in Primorye.

Rosneft President Igor Sechin proposed formation of a working group to develop more detailed plans for cooperation and preparation of a memorandum of understanding at a meeting in Seoul with NOV CEO Joe Rovig and Senior Vice President Connie Watson.

Sechin also said that Rosneft planned to overhaul its fleet of drilling equipment under the technical re-equipment program at drilling division RN-Burenie. "In that connection, Rosneft invites you to participate in developing designs for onshore drilling rigs and putting localization principles into practice by placing orders for construction of a Russian plant," Rosneft said.

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production, the provision of oilfield inspection and other services, and supply chain integration services to the upstream oil and gas industry. The company includes more than 800 enterprises and sales and service centers worldwide, including the U.S., Canada, South Korea, Norway, UEA, Mexico and Russia. Revenue totaled $22.7 billion last year.

The company has delivered its equipment to the Russian market for 25 years, under various brand names: National Oilwell Varco, Dreco, Varco, Kremco, Cardwell, Cooper, Ideco, National, RMI, Wilson, Franks and Skytop Brewster.

Zvezda Far Eastern Yard specializes in nuclear-powered submarine maintenance, overhaul and upgrades. Federal property management agency Rosimushchestvo owns 52.55% of shares and Far Eastern Shipbuilding and Ship Repair Center (DCSS) has 47.45%.

Tags: ROSNEFT, РОСНЕФТЬ, NOV, VARCO

Chronicle:

ROSNEFT INVITES NOV
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INDIA'S GAS WILL UP

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ROSNEFT INVITES NOV
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NORWAY SELLS OIL & GAS

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

ROSNEFT INVITES NOV
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OIL PRICES UP

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ROSNEFT INVITES NOV
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U.S. RIGS UP 8 TO 915

U.S. Rig Count is up 327 rigs from last year's count of 588, with oil rigs up 267, gas rigs up 61, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 24 rigs from last year's count of 184, with oil rigs up 9 and gas rigs up 15.

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