Keppel Offshore & Marine (Keppel O&M) has signed an agreement with Russian national oil company Rosneft, and Norway-based drilling equipment provider MHWirth to establish a Singapore incorporated joint venture company (JVCO).

The JV will create a 100%-owned design and engineering centre (DEC), which will design drilling rigs for offshore work, engineering and commercial activity in Russia.

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The DEC will also provide engineering and design training, and support projects at the Zvezda Shipbuilding complex in Vladivostok.

"This project is an example of how the experience and technologies of the world’s market leaders may be used to meet the global challenges."

Rosneft management board chairman Igor Sechin said: "We are pleased that it will be an international consortium to design the new equipment, created by Rosneft together with the world leading offshore rig designer and builder from Singapore, and a world leading supplier of drilling equipment and technologies from Norway.

"This project is an example of how the experience and technologies of the world’s market leaders may be used to meet the global challenges, such as the development of the offshore oil and gas resources".

The JVCO will provide design and engineering services for mobile offshore drilling units in shallow waters to meet Russian requirements.

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The DEC will also carry out projects for customers worldwide.

Keppel O&M and Rosneft will each have a 45% stake in the JV, while the remaining 10% will be owned by MHWirth.