During the ХIV Eurasian Economic Forum in Verona, Rosneft and Maire Tecnimont signed an agreement of intent on implementation of the investment project "Construction of VGO Hydrocracking Complex" at the Ryazan Refining Company’s (RORC) production site.

The project involves a full range of works related to the design, supply of equipment and materials, construction, start-up and commissioning, and project finance services.

The VGO hydrocracking complex will enable RORC to increase refining margins by converting dark petroleum products into Class 5 light commercial petroleum products (gasoline, kerosene, diesel fuel). The complex includes hydrocracking units, hydrogen units, elemental sulfur production units, and off-site facilities. All equipment has high environmental performance characteristics.

The project uses modern, highly efficient technology and equipment with an automated control system to improve the carbon efficiency of the investment project.

Rosneft is implementing an unprecedented program to upgrade its refineries. Since the program started, more than 900 billion rubles have already been invested, and 23 major units and refinery complexes have been built and reconstructed, allowing the Company to significantly increase production of Class 5 gasoline, diesel fuel and to fully meet the needs of the domestic market.

About Ryazan Oil Refining Company

Ryazan Oil Refining Company, a subsidiary of Rosneft, is one of the largest Russian refineries by volume of refining and production output.

About Rosneft

Rosneft is the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company. Company’s main activities include prospecting and exploration of hydrocarbon deposits, oil, gas and gas-condensate production, upstream offshore projects, processing, as well as oil, gas, and product marketing in Russia and abroad. The Company is included in the list of strategic companies and organizations of Russia. Company’s largest shareholder (69.50% of the equity) is ROSNEFTEGAZ OJSC, fully owned by the Russian Government, while BP holds 19.75% of shares, one share belongs to the state represented by Federal Agency for State Property Management, whereas the remaining shares are free floating.

About Maire Tecnimont

Maire Tecnimont S.p.A., listed on the Milan Stock Exchange, heads an industrial group which leads the global natural resource processing industry (downstream oil & gas plant engineering, with technological and executive expertise). Its subsidiary NextChem operates in the field of green chemicals and technologies in support of the energy transition. The Maire Tecnimont Group operates in 45 countries, through 50 companies and about 9,100 people.