31 May 2016 13:47

Rosneft, China's Kerui to produce hydrofracking equipment in Russia

SOCHI. May 31 (Interfax) - Russian state oil major Rosneft and China's Kerui Group plan to cooperate on a project to set up a specialized enterprise in Russia to manufacture, repair and service equipment for hydrofracking.

The companies are also considering manufacturing flexible tubing assemblies, manufacturing and servicing drilling rigs and well workover rigs, according to the protocol from a meeting of the Russian-Chinese intergovernmental commission, a copy of which was obtained by Interfax.

The parties are now drafting the relevant memorandum of understanding.

The companies are also prepared to cooperate on Rosneft hydrofracking projects at its fields in Russia and abroad, including in Venezuela, Cuba and Brazil.