The Italian Saipem and the Russian United Shipbuilding Corporation (OCK) have signed an exclusive cooperation agreement for the development of oil and gas projects in Russia and other countries. The agreement sets out the objectives, criteria and timetable for the establishment of a joint venture between the two societies whose purpose includes project management, engineering, procurement and construction related to oil and gas projects.
Recalling that OCK is a leading shipbuilding companies in Russia and owns the largest shipyards in the Federation, Saipem said that the signing of the Cooperation Agreement will be transferred to the new company the complementary capabilities of both partners, that will be needed to maximize local content, through training of personnel in Russia and the integration of EPC skills.
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