Wednesday, January 2, 2008

Federal Program to Focus on Offshore Equipment

The Russian government is actively engaged in the revival of domestic shipbuilding, primarily for construction of platforms and other equipment to develop the offshore shelf. Russia wants to ensure the complete preeminence of domestic providers, basing all equipmentproduction with Russian manufacturers. With this purpose in mind, the government has approved the federal target offshore technology development program for 2009-2016, proposed by the Ministry of Industry and Energy. Cost of the program amounts to about $5.6 billion. In addition to providing a strategic direction in shipbuilding, the government is also prioritizing production of technologies for shelf development. By 2015, Russia plans to invest $15-$20 billion in construction of 30-35 drilling platforms for work on the shelf, as well as ice-class liquefied gas tankers.

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