Finnish-Russian firms to develop oil spill response tech

A Russian energy firm has teamed up with a Finnish company to develop response equipment for oil spills. Rosneft and Lamor Corporation have agreed to set up a joint venture […]

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By Priyanka Shrestha

A Russian energy firm has teamed up with a Finnish company to develop response equipment for oil spills.

Rosneft and Lamor Corporation have agreed to set up a joint venture in Russia to evaluate prospects of localising production of the technology for the Arctic region.

The equipment will be manufactured at a Rosneft ship building facility and localisation of production is forecast to be at least 70% by 2025.

Rosneft is the largest license holder on the continental shelf of the Russian Federation. It holds 55 licences – 28 at the Arctic shelf – that cover a total area of more than one million square kilometres.