TMK and Rosneft will cooperate in offshore projects

The aim of the memorandum is to consolidate and further develop the interaction system between Rosneft and TMK in the development of import-substituting pipe products, including new kinds of products with high technical and economic characteristics that meet the international standards and requirements set out by Rosneft.

Within the framework of their cooperation, the parties intend to consider the possible use of TMK’s existing products for Rosneft’s offshore projects, alongside the manufacturing of new types of pipes at the oil company’s request. The list of products in demand includes high-strength pipe casing and oil well tubing, including cold-resistant versions, large diameter pipe casing, new types of premium threaded connections with special properties, including 100% effectiveness under tension and compression, as well as the GreenWell lubricant-free technology for the assembly of casing columns.

“The implementation of the projects for the development of the Russian continental shelf, as well as fields in hard-to-reach areas on land will require manufacturing of high-tech equipment, including high-quality pipe products. The agreement with the leading Russian manufacturer is an important step towards the implementation of the import substitution program,” said the Igor Sechin, President of Rosneft.

“TMK is currently carrying out a strategy of pro-active import substitution in the development and manufacture of products for Russian consumers. Partnership with Rosneft, our long-standing partner, is especially important in terms of the development of import substitution projects and facilitates joint efforts in solving the significant challenges facing both companies. The successful cooperation will allow for the provision of a high level of efficiency of new oil and gas projects on the Russian continental shelf, and will allow TMK to occupy a leading position in the pipe market in a competitive market climate,“ commented Aleksandr Shiryaev, CEO of TMK.