LUKoil, Russia's largest independent oil producer, and U.S. Nalco Holding Company will establish a joint venture to produce chemical reagents in Siberia, LUKoil said on Thursday.
The joint venture will be based on facilities of the Kogalym Chemical Reagent Plant, owned by LUKoil-West Siberia, which will own 34% in the venture, while Nalco will own the remaining 66%.
The planned chemical reagent output volumes wll rise to 27,830 tons in 2015 from 5,900 tons in 2011.
The joint venture will supply LUKoil-West Siberia and other companies with premium-class chemical reagents used for increasing the rate of oil recovery, treatment of well equipment and also for oil preparation.
Nalco will upgrade production, introduce production and service technologies, develop a new product line and train staff at the joint venture.
MOSCOW, December 2 (RIA Novosti)
