"Oil Resource" (part of the "Kirillitsa" Group of Companies) has determined the parameters of cooperation with Chinese manufacturers of equipment for industrial replication of the multifluid thermal technology (MTT).

As part of the project, the company's delegation visited China where it held a series of meetings with equipment manufacturers and participated in the international industry exhibition CIPPE in Beijing.

During the visit, a strategic cooperation agreement was signed with The Eighth Construction Company of CNPC., Ltd, one of the structures of the largest Chinese oil and gas corporation. The agreement defines the areas of cooperation between the parties in the development, production and supply of high-tech oil and gas equipment for oil recovery enhancement projects and forms the basis for a long-term partnership with a horizon of up to 15 years.

The agreement also defines the vector of development of the strategic partnership between the parties in the implementation of projects in the markets of Russia and China. The key task of cooperation is to adapt the partners' production capacities to the challenges of scaling technology. According to the company's calculations, its implementation will require several thousand units of specialized equipment.

The MTT technology is one of the unique developments for the Russian market in the segment of hard-to-recover reserves and has a high export potential. It is included in the list of strategic technologies within the framework of the Energy Strategy of the Russian Federation until 2050 and is currently at the stage of transition from pilot testing to industrial replication.

According to the company's estimates, the segment of supplies of specialized equipment for the MTT (excluding service and digital solutions) may reach 2 trillion rubles until 2040.

"Today, the main challenge for the industry is hard-to-recover reserves. This is no longer about expanding production but about moving to new technological solutions. We consider international cooperation as a tool for accelerated scaling of the MTT and the formation of a new market segment," said Semyon Garagul, a shareholder of Kirillitsa Group of Companies.

The key element of the technology is specialized equipment developed on the basis of the R&D of the "Oil Resource" Research and Development Center. Its production is carried out at the facilities of Chinese partners who have expertise in the serial production of complex oilfield equipment.

About the CIPPE exhibition
CIPPE (China International Petroleum & Petrochemical Technology and Equipment Exhibition) is one of the leading Chinese exhibitions in the oil and gas industry. Industry leaders, national oil companies (NOC), international oil companies (IOC), project contractors (EPC), service companies, manufacturers and suppliers of equipment and technologies annually gather at its site to establish business ties, demonstrate advanced technologies and exchange ideas.