Russian/South Korean consortium team up for arctic shipbuilding

Nov. 13, 2013

Rosneft, Gazprombank, Sovcomflot, and Daewoo Shipbuilding & Marine Engineering have signed a memorandum of understanding that outlines the main terms of cooperation to establish a shipbuilding and industrial cluster in the southern part of the Primorskiy Krai region in the Russian Far East.

Offshore staff

MOSCOW– Rosneft, Gazprombank, Sovcomflot, and Daewoo Shipbuilding & Marine Engineering have signed a memorandum of understanding that outlines the main terms of cooperation to establish a shipbuilding and industrial cluster in the southern part of the Primorskiy Krai region in the Russian Far East.

All parties agreed to jointly construct a new complex at the Zvezda yard, serving as a Russian/Korean engineering center for shipbuilding and marine equipment for offshore projects. They also agreed on terms for technology exchange, localization of production, and contracts placement.

Rosneft President Igor Sechin said: “Rosneft has a large-scale program to develop offshore projects in Russia in challenging conditions in the northern and Far East seas… We are convinced the cluster will become a center for high-techarctic shipbuilding in Russia.”

11/13/2013