Friday 8 September 2017

Finnish-Russian firms to develop oil spill response tech

A Russian energy firm has teamed up with a Finnish company to develop response equipment for oil spills.

Rosneft and Lamor Corporation have agreed to set up a joint venture in Russia to evaluate prospects of localising production of the technology for the Arctic region.

The equipment will be manufactured at a Rosneft ship building facility and localisation of production is forecast to be at least 70% by 2025.

Rosneft is the largest license holder on the continental shelf of the Russian Federation. It holds 55 licences – 28 at the Arctic shelf – that cover a total area of more than one million square kilometres.