Rosneft and PDVSA Sign Eductional MOU

Rosneft, Petróleos de Venezuela S.A. (PDVSA), the Gubkin Russian State University of Oil and Gas and the Venezuelan University of Hydrocarbons signed a Memorandum on cooperation in the area of education and science within St. Petersburg International Economic Forum. The document was signed by Chairman of Rosneft Management Board Igor Sechin, President of PDVSA Eulogio Antonio del Pino Diaz, Rector of the Gubkin University of Oil and Gas Viktor Martynov and Rector of the Venezuelan University of Hydrocarbons Pedro Sabás Acuña Vásquez.

The parties intend to cooperate in the area of education and science, including training specialists for joint projects of Rosneft and PDVSA at Russian and Venezuelan universities – Gubkin State University of Oil and Gas and Venezuelan University of Hydrocarbons – in 2016-2020 by offering higher professional education and continuing professional education programs.

The parties agreed to assess the need of advanced training for teachers of the Venezuelan University of Hydrocarbons at the Gubkin State University of Oil and Gas in 2016-2020 so they can hold courses to joint project teams of Rosneft and PDVSA in Bolevarian Republic of Venezuela. The parties also intend to consider undertaking research and development with assistance of experts from both the Gubkin State University of Oil and Gas and Venezuelan University of Hydrocarbons in 2017-2020. If the decision is made to undertake research and development, the parties will set the time schedule and identify the scope of financing.