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Rosneft and Pirelli Expand Cooperation in the Area of Developing, Producing and Shipping of Synthetic Rubber by Means of Engagement of a Technological Partner

17 October 2014

Rosneft Head Igor Sechin and Pirelli’s Chairman Marco Tronchetti Provera signed a Memorandum of understanding in the area of R&D, producing and shipping of synthetic rubber in the city of Nakhodka in the framework of the FEPCO (Far East Petrochemical Company) petrochemical cluster.

Within the signed memorandum, Rosneft and Pirelli specified the requirements for the engagement of a third party acting as a technological and production partner. Moreover Rosneft and Pirelli claim their intentions of using FEPCO petrochemical cluster, which is situated in Nakhodka, for synthetic rubber production for the purpose, among other things, of supplies to Pirelli’s own tire production facilities in South-Pacific region. Above all, Rosneft and Pirelli show intention to develop research, design and experimental projects in this area in Nakhodka.

Styrene butadiene rubber, which is supposed to be produced there, is an environmentally-friendly material, which is used in production of so called “green tires”. It improves adherence on both wet and dry road and helps to reduce fuel consumption.

After signing the memorandum, Igor Sechin said: “The execution of this Memorandum represents a unique growth opportunity for Rosneft in the high-margin petrochemical field. Joint research and cooperation in the field of production and marketing will allow Rosneft and Pirelli to maximize the efficiency of the project and will let the parties develop and implement marketing know-how and acquire new competencies”.

Marco Tronchetti Provera, Chairman and CEO of Pirelli said: “The agreement signed today goes in the direction of strengthening the synthetic rubber project in Nakhodka both technologically and in terms of the already existing synergies between Pirelli and Rosneft. It is also shows Pirelli and Rosneft beginning to move together into new alliances which, as we have already said, could also be a part of our future cooperation.”

Notes for Editors:

The construction of a modern petrochemical and refining structure in the Russian Far East is one of Rosneft's leading projects. Its execution is being led by the Far East Petrochemical Company.

The plant with a designed capacity of 30 mtpa of hydrocarbon refining is planned to be located in the Partisan region of the Primorsk Territory. This project will lay the foundation of the Far East petrochemical cluster formation.

Rosneft Information Division
Tel.: + 7 (499) 517-88-97
October 17, 2014

 

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.