Rimera Signs Three-Year Contract with Tatneft for Deliveries of Izhneftemash Products


Shipments to Tatarstan's leading oil production company will amount to RUB 250 mln in 2014.

Rimera Signs Three-Year Contract with Tatneft for Deliveries of Izhneftemash Products

Rimera Signs Three-Year Contract with Tatneft for Deliveries of Izhneftemash Products

Izhneftemash plant, part of Rimera Group, and the oil producer Tatneft have reached a deal on deliveries of subsurface sucker rod pumps and tubing pumps. The contract with Izhneftemash takes Rimera's partnership with the number-one petroleum company of Tatarstan to a new level. In 2014, Rimera Group plans to step up the volume of product deliveries and services to Tatneft to a quarter of a billion rubles.

The Izhevsk-based plant of Rimera Group intends to manufacture some 130,000 tubing collars in five standard dimensions by the end of 2014. The first shipment of 50,000 collars has already been included in the Izhneftemash production plan for May. The shipment will be completed by the end of May. The contract for deliveries is a long-term arrangement under which the Izhevsk-based petroleum mechanical engineering plant of Rimera Group and Tatneft will be cooperating until 2016.

"Tatneft is one of the three biggest Izhneftemash clients, accounting for roughly 10% of all production and sales by the plant. The first contracts date back to the early 1990s. The Target production system, which the plant has been implementing since early 2014, is expected to ensure synchronized production and timely performance of all contractual obligations", says Izhneftemash executive director Sergei Shunin.

It will be recalled that Izhneftemash opened a specialized collar production station in August 2012. The station is equipped with state-of-the-art PLC-controlled turning and band-sawing machines. The launch of this station was the first successfully completed phase of the program to upgrade the plant's production capacities. The program began in 2011 as Rimera Group invested in the plant.
Collaboration with Tatneft is comprehensive in its nature. At tomorrow's meeting between ChelPipe Group shareholder Alexander Fiodorov and Tatarstan President Rustam Minnikhanov, the parties will discuss ways to expand this collaboration, including with the involvement of Alnas plant, the Almetyevsk-based asset of Rimera Group. A consignment contract for spare parts for Alnas electric centrifugal pumps intended for Tatneft is currently being negotiated. This April will see the completion of factory acceptance tests of new piston rod protectors for difficult wells. In May, the new piston rod protector will go to the Ashalchinskoye Field of Tatneft for pilot testing.

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