Russia: Saipem, OCK Ink Cooperation Agreement

Saipem and the Russian company, United Shipbuilding Corporation (OCK), have signed an exclusive cooperation agreement for the development of oil & gas projects in the Russian Federation and in other countries.

The cooperation agreement outlines objectives, criteria and timing to establish a fifty-fifty joint venture between the two companies, with the scope of work including project management, engineering, procurement and construction activities relevant to oil & gas projects.

OCK is a leading Russian shipbuilding corporation and owns the largest shipbuilding yards of the Russian Federation.  The cooperation agreement will allow both partners to bring to the new company their complementary expertise, necessary to maximise the local content, through personnel training and the integration of EPC skills in Russia.

Saipem is organised in three Business Units: Offshore, Onshore and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and the execution of large scale offshore and onshore projects, and technological competences such as gas monetisation and heavy oil exploitation.

Source:Saipem ,September 23, 2011;