Sovcomflot BoD considered the Group’s financial plan for 2019 and a forecast for 2020-2021
On 11 December 2018, the Board of Directors of PAO Sovcomflot held a meeting in Moscow at which it considered the financial plan (budget) of the Group for 2019 and a forecast for 2020-2021.
The Board of Directors discussed a report from the Executive Board on the progress in the preparation of PAO Sovcomflot’s Development Strategy through to 2025. This strategy foresees a consistent increase in the share of the company's fleet engaged in providing logistics and transport support for major oil & gas projects, as well as further implementation of energy efficient and environmentally sound technical solutions, etc. across the company's operations. The document is planned to be approved in March-April 2019.
In pursuance of the relevant Directive of the Government of the Russian Federation, the Board of Directors approved a package of agreements for the construction of a series of new-generation large-capacity oil tankers at the Zvezda Shipbuilding Complex, together with the subsequent employment of these vessels under a long-term time charter to Rosneft Oil Company. The relevant documents were signed by Sovcomflot together with Rosneft, Zvezda SC and VEB Group at the IV Eastern Economic Forum in Vladivostok in September 2018.
Sovcomflot (SCF Group) is one of the world's leading energy shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as the servicing of offshore oil and gas exploration and production. The company’s fleet includes 147 vessels with a total deadweight of 12.8 million tonnes. 80 vessels have an ice class.
Sovcomflot is involved in servicing large oil and gas projects in Russia and around the world: Sakhalin-1; Sakhalin-2; Varandey; Prirazlomnoye; Novy Port; Yamal LNG, and Tangguh (Indonesia). The company is headquartered in Saint Petersburg, with offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, and Dubai.
