Oman Oil Company and RUSNANO Sign Agreement on Investment Activity

27 October 2017

Parties to evaluate joint investments in projects on the oil and gas and chemical sectors. The signing of the agreement took place with the assistance of the Russian-Omani Business Council in the framework of the 2nd Russian-Omani Business Forum.

Parties are interested in evaluating potential co-investment opportunities in the chemical and petrochemical industries through chemical Funds launched by RUSNANO, bringing benefit to the Russian and the Omani sides. The opportunities pipeline will include strategically important chemical and petrochemical projects based on competitive innovative technologies.

Managing Director of RUSNANO MC Vladimir Konovalov said: “We see lots of investment opportunities in the petrochemical industry in Russia, due to traditionally strong position of the country in this area as well as competitive feedstock prices. Cooperation with Oman Oil Company, with its extensive portfolio of projects and industry expertise, will enable us to increase the efficiency of our investments”.

Oman Oil Company S.A.O.C (OOC) is a commercial company wholly owned by the Government of Oman. Established in 1996 to pursue investment opportunities in the wider energy sector both inside and outside Oman, the Company plays an important role in the Sultanate’s efforts to diversify the economy as well as fostering and building human capital. OOC’s portfolio consists of over 50 investments across 15 countries. Investments within Oman are managed through four verticals: Oman Oil Company Exploration and Production LLC, Oman Oil Facilities Development Company LLC, Oman Oil Duqm Development Company LLC and Takamul Investment Company S.A.O.C, while international assets are managed by the OOC International Investment Unit.

Additional information

Reference

RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 87 factories and R&D Centers opened in 32 regions in Russia.

Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.

Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.