Rosneft has signed a cooperation agreement with the Ministry for the Development of the Russian Far East. The agreement was signed by Rosneft President and Chairman of the Management Board Igor Sechin and Viktor Ishayev, Presidential Plenipotentiary Envoy to the Far East Federal District and Minister for Development of the Far East. The aim of the agreement is to develop infrastructure in the Far East Federal District of Russia, tackle economic and social challenges in the region and improve the investment climate.

The parties highlighted cooperation in the geological survey, exploration and production of oil and gas as a priority, given the regional economy’s focus on natural resources and the importance for socio-economic development of the Far East’s resource potential. Rosneft will work with the Ministry to increase oil and gas production and replace mineral resources base by introducing the latest innovations and foremost technologies for the geological survey, oil and gas production and refining.

The partnership programme places a special emphasis on improving energy efficiency, protecting the environment and making rational use of the Far East’s natural resources. One of the aims of the partnership is to boost investment and encourage innovations in the Far East of Russia.

Rosneft has considerable production and investment operations in the Far East and this agreement will allow the Company to make a considerable contribution to developing the regional economy and supporting the implementation of an effective social policy in the Far East.