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You're reading: Gazprom, Rosneft to set up and use shelf-development infrastructure together

Sochi - Gazprom and Rosneft have struck an agreement on the usage and creation of continental shelf development infrastructure. 

During the eleventh international investment forum Sochi-2012, with Russian Prime Minister Dmitry Medvedev in attendance, the two companies signed a cooperation agreement on jointly using and creating infrastructure in the development of shelf deposits.

Gazprom CEO Alexei Miller and his Rosneft counterpart, Igor Sechin, signed the document.

The agreement calls for joint work and combining efforts for the effective development of mineral sections on the Russian continental shelf. It incorporates the drafting of a plan of action to carry that cooperation out. The agreement envisages several forms of cooperation, including the regular exchange of information and data in the public domain, and the exchange of information obtained from research and development organizations and enterprises engaged in the proliferation of new technologies.

The sides will promote seminars, conferences, and training programs with the aim of exchanging expertise and human resource potential.

The goals of the agreement include increasing the extent to which the shelf is studied through joint planning and geological work. The parties might also provide engineering services in the field of prospecting and exploration, determine possible ways to create a market for material and technical resources and inputs needed for offshore work, and resolve infrastructure tasks, including the construction of sea platforms, pipelines, onshore bases and other essential structures, not neglecting to draft environmental protection and work safety measures.

The agreement is not legally binding and does not incur any rights or obligations between the parties other than those of confidentiality. 

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