Saipem, OCK Team Up in Russian EPC JV

Saipem and United Shipbuilding Corporation (OCK) have signed an exclusive cooperation agreement for the development of oil & gas projects in the Russian Federation and in other countries.

The cooperation agreement outlines objectives, criteria and timing to establish a fifty-fifty joint venture between the two companies, with the scope of work including project management, engineering, procurement and construction activities relevant to oil & gas projects.

OCK is a leading Russian shipbuilding corporation and owns the largest shipbuilding yards of the Russian Federation.

The cooperation agreement will allow both partners to bring to the new company their complementary expertise, necessary to maximize the local content, through personnel training and the integration of EPC skills in Russia.