RDIF, PIF, Saudi Aramco set up platform for energy investment

PRIME, 05.10.2017

MOSCOW, Oct 5 (PRIME) -- The Russian Direct Investment Fund (RDIF), the Public Investment Fund (PIF) of Saudi Arabia and Saudi Aramco have established a platform for power industry investment, RDIF said in a statement on Thursday.

“(The parties) have agreed to collaborate on a new platform aimed at identifying attractive investment opportunities in the Russian energy services sector. Potential projects will include oilfield services and related activities, with the possibility of future localization in Saudi Arabia and the wider Middle East region,” the statement read.

‘The Russian-Saudi Energy Platform will be a unique institution for the Russian direct investment market… Our Saudi partners highly value the development potential of leading Russian energy companies, and the Russian energy sector can benefit from their expertise to further cooperate in the Middle East,” the statement quoted RDIF CEO Kirill Dmitriev as saying.