Rosneft and SIBUR have signed a long-term partnership agreement for the development, testing and implementation of lubricants and other oil products.
In accordance with the agreement, the parties will assess SIBUR's need for lubricants and other oil products and will work together to develop new lubricating materials suitable for the Company's equipment.
The parties also plan to pursue joint projects designed to replace imports of oil products. In addition, Rosneft and SIBUR will cooperate on training and technical consulting to improve personell expertise through an innovative approach to the supply of lubricants and other oil products.
The agreement will be in effect for five years and may be extended if the parties so agree.