INVESTOR RELATIONS

RAO Rosneftegazstroy and Johnsen Oil A/S Sign Cooperation Contract

Extensive technology and services for leading Russian oil and gas construction company

RAO Rosneftegazstroy (RNGS) and Johnsen Oil A/S have signed a 10 year cooperation contract covering technology, equipment, services and engineering. This extensive supply and service contract was signed on September 30, 2010 with RNGS represented by  General Director, Dr. Serguei P. Ansov and Director, Umarbek Nesiev, and Johnsen Oil represented by its CEO, Henrik Karlsgaard. Based on estimates by RNGS, the cooperation contract for Johnsen Oil will be worth €100 – 200 million of product value per year, starting in 2011.

The contract positions Danish liquid filtration specialist Johnsen Oil as a partner and supplier of equipment and services in the industrial activities of the RNGS Group (www.rngs.ru).

RNGS is a Russian Joint-Stock Company for Oil and Gas Construction. It is a leading Russian company in the field of oil and gas, industrial and civil construction and has a network of affiliates and representative offices in Europe, North America, Middle East and the CIS countries.

The Parties have agreed that Johnsen Oil shall provide supplies to RNGS within technology, engineering, filtration solutions, pipeline and transportation systems and other equipment including maintenance and parts for the oil and gas activities of RNGS, concerning new and existing moveable, as well as fixed or floating applications. The contract requires Johnsen Oil and its sub-contractors to supply RNGS with equipment and services within engineering, onshore and offshore solutions, both regarding new installations in addition to maintenance on existing installations.

Picture from the signing ceremony in RNGS headquarters in Moscow.