Rosneft and Chelyabinsk Pipe Rolling Plant (ChelPipe) signed a long-term tubular supply contract at the XXI St. Petersburg International Economic Forum. The document was signed by Rosneft Chief Executive Officer Igor Sechin and Chairman of ChelPipe Board of Directors Andrey Komarov.

The formula pricing based long-term contract term is over 5 years. Tubular supplies to Rosneft will start in 2H 2017. Long-term strategic contracts are a reliable market mechanism which will enhance the efficiency of the activities of both companies and will ensure transparency of pricing for purchased tubulars.

The signed documents demonstrate the commitment of the leading Russian for a long-term and mutually beneficial cooperation.

Commenting the signing of the contract, Rosneft Chief Executive Officer Igor Sechin stated that 'the cooperation with one of Russia's largest petroleum tubular manufacturers shall improve the profitability of our business through long-term planning which ensures timely and robust supplies of high quality products. 

Following the signing ceremony, ChelPipe Board of Directors Chairman Andrey Komarov noted, "The signed agreement takes our partnership to a new level. The cooperation with the world's largest petroleum company which is continuously increasing its production shall facilitate maintaining demand for ChelPipe Group's products and ensure stable utilization of its capacity in the long-run".

Notes for editors:

ChelPipe Group is of the leading industrial groups in Russia's metallurgical complex. Based on 2016 performance, the Group accounted for 16.5% of the overall shipping of the Russian tubular manufacturers. ChelPipe Group encompasses the following iron and steel companies: Chelyabinsk Pipe Rolling Plant, Pervouralsk New Pipe Plant, a multi-building warehouse for effecting the Group's tubular sales to the regions, META scrab procurement and recycling company; main equipment manufacturing companies SOT, ETERNO, MSA (Czech); the oilfield service business is represented by GK Rimera.

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