Russia's OAO Gazprom Neft (SIBN.RS), the oil arm of state gas firm OAO Gazprom (GAZP.RS), has signed an agreement with France's Total S.A. (TOT) to form a joint venture to produce and sell modified bitumen and bitumen emulsions on the Russian market, Gazprom Neft said in a statement Thursday.
Russia
's OAO
Gazprom Neft (SIBN.RS), the oil arm of state gas firm OAO Gazprom (GAZP.RS),
has signed an agreement with
France
's
Total S.A. (TOT) to form a joint venture to produce and sell modified bitumen
and bitumen emulsions on the Russian market, Gazprom Neft said in a statement
Thursday.
Each partner will have a 50% stake in the joint venture, which will build a
special production facility at Gazprom Neft's
Moscow
oil
refinery. The facility will have a capacity of 60,000 metric tons of
polymer-modified bitumens and 7,000 tons of bitumen emulsions per year.
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