Oman Oil Company and Russia’s Rusnano, a leader in nanotechnology, have signed an agreement aiming to evaluate joint investments in projects on the oil and gas and chemical sectors.

The signing of the agreement took place with the assistance of the Russian-Omani Business Council in the framework of the 2nd Russian-Omani Business Forum.

Parties are interested in evaluating potential co-investment opportunities in the chemical and petrochemical industries through chemical Funds launched by Rusnano, bringing benefit to the Russian and the Omani sides. The opportunities pipeline will include strategically important chemical and petrochemical projects based on competitive innovative technologies.

Vladimir Konovalov, managing director of Rusnano MC, said: “We see lots of investment opportunities in the petrochemical industry in Russia, due to traditionally strong position of the country in this area as well as competitive feedstock prices. Cooperation with Oman Oil Company, with its extensive portfolio of projects and industry expertise, will enable us to increase the efficiency of our investments.”

The opportunities pipeline will include strategically important chemical and petrochemical projects based on competitive innovative technologies, the Russian state-own nanotechnology firm was quoted as saying in an Oman Observer report.

Konovalov added that Rusnano sees a lot of investment potential in the Russian petrochemical industry based on its competitive feedstock prices and traditionally strong role in this sector.