Rosneft and Alstom have signed an agreement to expand cooperation in the energy sector, marking a new page in the relationship between the two giants.

      Rosneft President, Chairman of the Management Board Igor Sechin and Alstom President Patrick Kron have signed a Memorandum of understanding at the St. Petersburg International Economic Forum, says an official press release.

      According to the Memorandum, Alstom will provide cutting edge solutions and products for power generation, industrial automation and emission control for Rosneft’s facilities.

      “The signed agreement will allow Rosneft, the worldwide leader of oil and gas industry, to increase the effectiveness of its operational business and improve the economic performance of industrial facilities. The cooperation with the leading company of the sector, Alstom, proves the Rosneft’s aim on implementation of the best practices and the Company’s aim at high-technology development”, the company’s website quoted Sechin as saying.

      “Alstom is the global leader in power plant design and construction with the set of all necessary resources, experience and knowledge for organization and development of energy equipment production, its modernization and upgrade, providing and using integrated technical and commercial solutions. We are glad to apply our vast experience and knowledge for the good of Rosneft, therefore the positive foundation has been laid”, said Alstom President Patrick Kron.

      Earlier, Rosneft’s subsidiary, Vankorneft, and Alstom signed a five-year long contract on the maintenance of gas turbines on the gas turbine station at Vankor oil and gas field.

      According to Rosneft’s press office, this was Alstom’s first long-term contract in Russia for the maintenance of energy equipment made by a third party manufacturer. The total value of contract is worth more than 1 billion roubles.