Rosneft and General Electric closed the agreement on the joint ventures foundation

The President, the Chairman of Management Board of Rosneft, I. Sechin and the CEO of GE, J. Immelt closed the agreement on the foundatio of their joint venture. The agreement is aimed at the broadening of scientific and technical cooperation between the companies, and presupposes the creation of two specializes centers, applied and research, at the first stage. The first common investment to centers from Rosneft and GE will be $20 million on a parity basis. The additional common financing at a rate of $50 million will be granted by the sides after choosing of the concrete tasks. The sides are going to jointly invest to the centers up to 400 million until 2020. The created centers will enable Rosneft to maintain high yield onshore and to develop the Arctic shelf in outstripping rates, using state-of-art safe technologies.