Rosneft and ChemChina Establishes a Joint Venture to Build a Polymeric Coatings Plant

polymeric-coatings-plant-agreementRosneft and the China National Petrochemical Company (ChemChina) establishes a joint venture by signing an agreement between Rosneft Chief Executive Officer Igor Sechin, and General Manager of ChemChina Yang Xingqiang. The joint venture will be established in the Bolshoy Kamen priority development territory in Primorsky Krai, Russia, to build a plant and a polymer coatings and paints facility with an annual capacity of 50 thousand tons, as well as carry out R&D activities. Rosneft and ChemChina will conduct a feasibility study of the project.  The project will be the largest facility to produce special marine and arctic vessel coatings in Russia.

Rosneft, the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company, engaged in prospecting and exploration of hydrocarbon deposits, oil, gas and gas-condensate production, upstream offshore projects, processing, as well as oil, gas, and product marketing in Russia and abroad.

Rosneft is a global energy company with major assets located in Russia and a diversified portfolio in promising regions of international oil and gas sector, including assets in Venezuela, Ecuador, Cuba, Canada, the USA, Brazil, Norway, Germany, Italy, Algeria, Mongolia, China, Vietnam, Turkmenistan, Belarus, Ukraine, and UAE.

Rosneft’s exploration and production activities are spread over all the key oil and gas regions of Russia, including Western and Eastern Siberia, Volga-and Ural Regions, Far East, Timan-Pechora, Krasnodar Region and the shelf of Russian seas, including Arctic shelf, as well as promising regions abroad, including Latin America and South-Eastern Asia.

Rosneft is a leader in oil refining in Russia. ChemChina, founded in 2004, is a Chinese state-owned chemical company, headquartered in Beijing, China operates in the product segments of agrochemicals, rubber products, chemical materials and specialty chemicals, industrial equipment, and petrochemical processing.

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