Authorities of Sovcomflot President and CEO extended for 5 years

The term of authorities of Sergey Frank, President and CEO of Sovcomflot, has been extended for a 5-year period, the Company says.

“Sergei Ottovich Frank is to be appointed a sole executive body – Director General of Sovcomflot for 5 years starting from June 8, 2015”, the statement says.

The decision has been taken by the Company’s sole shareholder – the Russian Federation.

Sergey Frank has been heading the Company from 2004.

Sovcomflot Group (SCF) is Russia’s largest shipping company and a world leader in the maritime transportation of hydrocarbons as well as the servicing and support of offshore exploration and oil & gas production. SCF is the largest operator of ice class LNG gas carriers in the world. The company’s fleet (owned & chartered) specialises in hydrocarbon transportation from regions with challenging icy conditions and includes 153 vessels with a combined deadweight of about 12.6 million tonnes. A third of these vessels have a high ice class. Sovcomflot supports large-scale offshore energy projects in Russia and overseas, including: Sakhalin-I, Sakhalin-II, Varandey, Prirazlomnoye, Tangguh, and Peregrino. The company is registered in Saint-Petersburg and has representative offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, Madrid, Singapore and Dubai.