Establishing joint ventures for constructing tankers

KIAP team provided legal support for Shipbuilding complex Zvezda in drafting the documentation and negotiating on the terms of establishing a joint venture with:

  • Hyundai Samho Heavy Industries Co. Ltd. (HSHI);
  • Samsung Heavy Industries.

The companies were established as part of a joint project of JSC Rosneftegaz, PJSC Rosneft Oil Company and JSC Gazprombank to localize ship construction and develop a shipbuilding cluster in the Russian Far East. Shipbuilding complex Zvezda was established on the basis of the Far Eastern Shipbuilding and Shiprepairing Centre. The construction of the shipyard is estimated at RUB 146 billion.

Under the terms of the first deal, HSHI:
  • provided technical support for the design and construction of Aframax-class vessels. The first stage involved the construction of five “green” tankers, which were to be used on behalf of Rosneft;
  • monitored compliance of the working construction documentation with the basic design of the vessel, which was contributed to the company’s share capital.

The second venture was set up to manage projects for the construction of shuttle tankers of 42,000 to 120,000 dwt at the SSC Zvezda. Under the terms of the deal, Samsung Heavy Industries:
  • provided SSC Zvezda with technical specifications, as well as basic and detailed design documentation for the vessels;
  • assisted in developing the working design documentation for the shuttle tankers jointly with Central Design Bureau Lazurit JSC;
  • provided technical support for planning, management and quality control during construction and installation works, procurement of materials and equipment;
  • provided engineering support for the construction of shuttle tankers;
  • trained Russian personnel at its shipyard and organized practical training on similar projects.


Anton Samokhvalov, Ekaterina Spakhova