Technip signs two agreements with State Corporation Russian Technologies (Rostec) for subsea equipment production. Technip and RT-Chemcomposite Holding Company, a Rostec subsidiary, signed a memorandum of understanding to express their intention to form a joint-venture (JV) company for subsea activities in Russia. Under the terms of this memorandum, the joint venture is a cooperation in the production of equipment for the oil and gas industry and in particular flexible composite pipes based on Technip’s technology. It allows to produce oil and gas at the depth of down to 3,000 meters and provides for speedy pipe laying operations. They will also intend to evaluate the possibility of establishing a research and development center.