May 27, 2014. Uralvagonzavod Scientific & Production Corporation and Rosneft signed a cooperation agreement during Saint Petersburg International Economic Forum.

The paper was signed by Rosneft Chairman of the Supervisory Board Igor Sechin and Director-General of Uralvagonzavod Oleg Sienko.

According to the corporation’s press service, the agreement provides for joint scientific research activity in the field of development, production, and launch of hi tech lubricating agents. In addition, Rosneft experts are expected to look into their product range and introduce the types of products that will enjoy demand among Uralvagonzavod Corporation’s member enterprises into their technological chain.

‘We are pleased with the agreements that will allow us to become strategic partners with Russia’s leading industrial holding. Thanks to these documents that were signed, Rosneft will supply the corporation’s member enterprises with lubricants at appealing financial terms and with no interruptions. We feel that the challenges that the current economic and political situation forces us to face we need to unite our efforts aimed at making Russian industry more competitive,’ Igor Sechin said.

‘We are very positive about the cooperation prospects between our company and Rosneft. The multi-product supplies of mineral products will help use reduce our maintenance expenses. Besides, we are planning to set up a number of import-replacing programs, with approvals from the equipment manufacturers. This is in full compliance with the Russian industry’s best interests,’ Oleg Sienko stressed.