Rosneft and PDVSA To Set Up Engineering & Construction JV
Rosneft President Igor Sechin and PDVSA Ingeniería y Construcción S.A. President Fadi Kabboul signed an Engineering & Construction JV Establishment and Management Agreement.
The document was signed in Caracas during the visit of Igor Sechin to Venezuela. Pursuant to the document, Rosneft and PDVSA will set up a joint venture that will provide engineering and construction services to put in place petroleum and other infrastructure facilities, primarily required for the operations of other joint ventures between Rosneft and PDVSA. This JV will enable expedited development of infrastructure for, and significantly enhance the efficiency of managing, Rosneft’s Venezuelan assets.
