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Rosneft, Leonardo and Russian Helicopters to Launch Joint Manufacturing in Russia

17 June 2016

Rosneft, Leonardo-Finmeccanica S.p.A. and JSC Russian Helicopters signed a Strategic Partnership Development Agreement. The document was signed in the presence of Russian President Vladimir Putin and Italian Prime Minister Matteo Renzi, by Rosneft Chief Executive Officer Igor Sechin, Leonardo-Finmeccanica S.p.A. Chief Executive Officer Mauro Moretti and JSC Russian Helicopters General Director Alexander Mikheev.

The tripartite agreement provides for supply from Leonardo-Finmeccanica to Rosneft of 30 helicopters. The document envisages that 13 helicopters will be built in Italy and 17 – on Joint Venture Helivert producing facilities. The Agreement outlines that the helicopters should be supplied to Rosneft in 2018.

In accordance with the strategic partnership agreement, signed in December 2014, the localization program envisages the delivery from the JV HeliVert to Rosneft of 150 helicopters by 2025.

In addition, the document confirms intentions of the parties to bring manufacturing localization level at JV Helivert up to 70%.

FOR REFERENCE:

On 20 July 2015, Rosneft, Finmeccanica S.p.A. and JSC Russian Helicopters signed the JV Helivert restructuring agreement.

JV restructuring assumes Rosneft's participation in its charter capital that will result in the change of partners' participation interests in the JV. AgustaWestland will become the holder of 40% stake (currently, 50%), Russian Helicopters - 30% stake (currently, 50%), Rosneft - 30% stake.

Rosneft Information Division
Tel: + 7 (499) 517-88-97
 
June 17, 2016

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

Keywords: Petersburg International Economic Forum