Rosneft and Republic of Bashkortostan strengthen cooperation
Rosneft and Republic of Bashkortostan signed an agreement on extending cooperation at the XXI St. Petersburg International Economic Forum. The document was signed by Rosneft Chief Executive Officer Igor Sechin and Head of Bashkortostan Rustem Khamitov.
The agreement provides for participation of Rosneft in implementation of social projects, including those of physical training and sports.
The Government of Bashkortostan will take measures to stimulate investment activity and create a better business climate as provided for in the legislation.
Commenting on the agreement signed, Igor Sechin said: “Rosneft started its operations in the Republic not long ago, however, our constructive cooperation with the Bashkiria authorities is actively developing. We already have certain results of the joint work, which are important both for the Company and for the economy of the region. In the future we plan to complete the modernization of Ufa group of refineries, which will positively affect the development of Company's production base”.
“The agreement that was signed today is of fundamental importance for the republic. It determines the scope and content of Rosneft’s charity programme in Bashkortostan. The document envisages the implementation of important social projects including those in region’s municipalities,” Rustem Khamitov noted.
Notes for editors:
As a result of acquisition of the state-owned stake in Bashneft in October 2016 and the shares of minority shareholders as part of the mandatory offer, Rosneft owns ca. 69.3% of the voting shares of Bashkir company. The 25% stake of Bashneft is controlled by the Government of Bashkiria.
The cooperation agreement between the Republic and Rosneft was signed in January 2017. The Agreement is aimed at implementing industrial, financial and social programs by the parties that will enable integrated development of the region and create favorable environment for business activities.
Pursuant to the signed document, the parties intend to develop cooperation in a wide spectrum of areas, including among others social and economic programs and cultural projects, implementation of innovative projects, use of best practices and technologies, minimization of the environmental impact and efficient use of natural resources.
The Company and Republic of Bashkortostan intend to cooperate in the production area, i.e. implement joint projects for construction and upgrade of oil and gas facilities and creation of favorable conditions for hydrocarbons exploration and production.
A particular attention in the Agreement is paid to provision of the Bashkortostan consumers with high quality oil products, development of the Company retail sites network, production and use of the advanced road-binding materials, implementation of the projects for development of road-transport infrastructure in view of the increasing road transport demands in the region. Cooperation in the area of import substitution of lubricants and special liquids at industrial facilities and transport will also serve this purpose.
The document also foresees joining efforts in the area of energy efficiency improvement, in the area of education and scientific and technological activities, import substitution and localization of equipment and technologies.
Rosneft Information Division
Tel.: + 7 (499) 517-88-97
2 June 2017
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