GE (GE) and OJSC Rosneft Sign MOU for Development of Commercial Oil & Gas Projects
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GE (NYSE: GE) and OJSC Rosneft signed a memorandum of understanding (MOU) that lays the foundation for the two companies to jointly evaluate and develop commercial opportunities in oil and gas exploration and production in the Russian Federation.
The agreement calls for a strategic, cooperative relationship that would (1) leverage GE Oil & Gas technologies to help Rosneft improve efficiency and yields in its oil and gas exploration and recovery operations, and (2) explore opportunities to jointly develop, manufacture and sell equipment for use in Russia’s oil and gas industry.
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The agreement calls for a strategic, cooperative relationship that would (1) leverage GE Oil & Gas technologies to help Rosneft improve efficiency and yields in its oil and gas exploration and recovery operations, and (2) explore opportunities to jointly develop, manufacture and sell equipment for use in Russia’s oil and gas industry.
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