July 25, 2014 1:39 PM ET


Company Overview of OAO Sovcomflot

Company Overview

OAO Sovcomflot, through its subsidiaries, owns and operates ships worldwide. The company operates through five segments: Crude Oil Transportation, Oil Product Transportation, Gas Transportation, Offshore Development services, and Other. It is engaged in the transportation of crude oil, oil products, refined petroleum products, chemicals, gas, coal, and seismic vessels, as well as liquefied natural gas (LNG) and liquefied petroleum gas (LPG). The company also offers logistical support for offshore developments; and floating storage and offloading unit management services. As of December 31, 2013, it had 61 crude oil carriers, 48 petroleum tank carriers, 2 LNG carriers, 4 LPG carriers, 13 shut...

6 Gasheka Street

Moscow,  125047


Founded in 1988


7 495 660 4000


7 495 660 4099

Key Executives for OAO Sovcomflot

Chairman of Executive Board
Age: 54
Chief Financial Officer
Age: 51
Chief Operating Officer
Senior Executive Vice-President and Member of Executive Board
Age: 50
Chief Strategy Officer
Age: 45
Compensation as of Fiscal Year 2014.

OAO Sovcomflot Key Developments

Sakhalin Energy, Sovcomflot Sign Long-Term Agreements for Operation of Three Vessels

Sakhalin Energy and the Sovcomflot group have signed agreements for the construction and long-term operation of three multifunctional icebreaking standby vessels for use at Sakhalin-2 offshore energy platforms. Operations under the contracts will continue for 20 years.

Rostelecom, Sovcomflot and Novorossiysk Commercial Sea Port To Be Privatized In 2014

Open Joint Stock Company Long-Distance and International Telecommunications Rostelecom (MICEX:RTKM), OAO Sovcomflot and Public Joint Stock Company Novorossiysk Commercial Sea Port (MICEX:NMTP) will be privatized in 2014. Tatyana Nesterenko, Deputy Finance Minister said, "We are fine tuning the estimate [of privatization revenue for the budget] concerning plans for the sale of Rostelecom,Sovcomflot and NCSP shares. Based on the uncertainty,the government has decided against putting the stakes up for sale this year".

CGG and Sovcomflot Announce Arctic 3D Seismic Joint Venture

CGG and Sovcomflot announced that they have signed an agreement to form a joint venture company dedicated to conducting high-end 3D marine seismic acquisition services with a focus on Arctic and sub-Arctic waters. The joint venture, to be called Arctic Geophysical Exploration (AGE), will be 51% owned by Sovcomflot and 49% owned by CGG. The company will be incorporated in Russia with its headquarters in Moscow. Under the terms of the agreement, CGG will charter a fourteen-streamer ice-class vessel while Sovcomflot will add the capabilities of an eight-streamer ice-class vessel. The primary aim of the joint venture company is to offer world-class 3D marine seismic acquisition services to operators during the Arctic navigation season. In addition, the new company will offer its highly advanced vessel capabilities to the international market for the remainder of the year while benefiting from access to the most advanced seismic technologies from CGG's worldwide operational and technical support.

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