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Rosneft Holds Technological Council Meeting

21 December 2018

A meeting of the Technological Council of Rosneft Oil Company, established under the ROSNEFT-2022 Strategy, was held. The Technological Council is an advisory board designed to facilitate the Company’s development strategy implementation in the areas of technology and innovation, as well as the implementation of core tasks of technological growth.

The Council comprises managers of Rosneft’s shareholding companies and technological partners, including the Company’s Board of Directors members, top-ranking representatives of academia and industry expert community, as well as the Company’s top managers, as follows: Chief Executive Officer of Rosneft Igor Sechin; President of BP PLC group of companies and a member of the Board of Directors of Rosneft Oil Company Robert Dudley; the representative of Qatar Investment Authority and a member of the Company’s Board of Directors Faisal Al Suwaidi; Rector of the Lomonosov Moscow State University Victor Sadovnichy.

During the meeting, the Council members approved the 2019 Technological Council Operation Plan and also considered issues of operating activities integrated digitisation and high-tech geophysical research and well development service expansion.

“In his latest Address to the Federal Assembly, Russian President Vladimir Vladimirovich Putin spoke of the need to build our own digital platforms to reorganise manufacturing processes, and also about the importance of making and localising key technologies and solutions, including those used in development of the Arctic and the sea shelf, and building new energy,” reminded Rosneft Chief Executive Officer Igor Sechin. “I fully share this opinion and expect that programmes “Digital Field”, “Digital Plant”, “Digital Supply Chain”, “Digital Fuel Station” being implemented in the Company today will provide for a whole new level of business process management, improve reliability and production efficiency, reduce losses,” the Head of Rosneft said.

Currently, 29 Research and Development Institutes have been involved in the development and implementation of the Company’s technological policy, with more than 13,500 people employed. The institutes’ employees take part in making all scientific, technological and technical decisions on the production areas of the Company’s activities: from the geological advanced imaging to manufacturing end market oil and gas processing and petrochemical products.

The Company’s R&D Institutes have achieved significant results working with low-permeability reservoirs, producing new materials, such as polymer propping agent for hydrofracturing and basic refining processes catalysts.

According to Igor Sechin, the foremost task of the Technological Council is to examine promising technologies and supervise their efficient implementation. All initiatives and business projects of importance related to implementation of advanced technology in exploration, development and refining of hydrocarbons will be introduced to the Council.

Victor Sadovnichy, the Rector of the Lomonosov Moscow State University, noted: “The Council meeting was very insightful. We discussed the future of the industry, which is associated with basic sciences. These include exploration, development, environment, digitisation, and big data. I suggested creating a joint centre of Rosneft and the Moscow State University to work together. We agreed that Rosneft would be one of our main partners in implementation of the project on development of a science and technology valley of MSU.”

“I am deeply convinced that technological challenges are vital for both the oil industry and the energy industry as a whole,” Igor Sechin summed up. “Exactly a year ago, the Board of Directors approved the ROSNEFT-2022 Strategy. It steers the Company towards quality changes, first and foremost through active implementation of new technology in all business areas, from upstream to downstream. Rosneft faces a task to increase the margin across the entire value chain while maintaining its leading position in production unit costs.”

Information Division
Phone: + 7 (499) 517-88-97
December 21, 2018

Keywords: Corporate Governance 2018