GE expands strategic partnerships in Russia

Offshore staff

FLORENCE, Italy Expanding the scope of their 2013 strategic partnership, GE and Rosneft have announced a long-term cooperation program.

The companies will continue joint work on artificial lift technology, with deliveries of GE electric submersible pumps already under way to Rosneft and its subsidiaries for testing and evaluation.

Rosneft and GE will proceed with preparations for joint work at an industrial shipbuilding cluster in Vladivostok. The cluster is planned to locally produce electrical equipment and steerable pod thrusters based on GE technology – as well as service marine diesel engines produced by a GE‑Transmashholding joint venture – for Rosneft’s fleet and other Russian civil vessels.

The two companies will further explore development plans for a facility in Murmansk, Russia, to locally assemble GE oil and gas equipment to support Rosneft’s production activities.

At the meeting in Florence, GE, Rosneft, and Transmashholding signed a letter of intent providing for the local production of GE V250 marine diesel engines by the GE-Transmashholding JV in Penza, Russia, with delivery of the first units to Rosneft expected in early 2018.

GE also said it will work with Russian businesses to develop up to $1 billion in sourcing opportunities by 2020 to better meet its global manufacturing needs “by capitalizing on the increased competitiveness of Russian fabrication, forging, and casting.” The company is currently working on several key infrastructure projects with Russian producers.

02/01/2016

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