The Northern Machine Building Enterprise (Sevmash), Russia's largest ship and submarine building company, is to establish a subsidiary to develop oil and gas projects, the company said on Thursday.
"Sevmash has all the chances of participation in working on Gazprom's projects, including the Shtokman field. To this end, the company will develop a project to set up SevmashShelf company," Sevmash said on its official website.
The company is now completing the Prirazlomnoye offshore platform in the Barents Sea. It expects the platform to be installed at an oil and gas field next June.
ST. PETERSBURG, Russia, September 23 (RIA Novosti)