Russia-based aviation company S7 Group has entered a deal with Sea Launch Group to purchase the assets of the Sea Launch complex for an undisclosed sum.

A floating facility to launch rockets into outer space, Sea Launch is located in the equatorial Pacific. The platform conducted its first launch in 1999.

“We expect to be able to perform up to 70 launches within 15 years without making any major investments in upgrades to the Sea Launch complex."

The newly signed deal includes the Sea Launch commander vessel; Odyssey launch platform, with the launch support equipment; ground support equipment at Sea Launch Group’s home port facility in Long Beach, California, US; and the Sea Launch trademark.

Subject to approvals from the US Directorate of Defense Trade Controls (DDTC) and the Committee on Foreign Investment in the United States (CFIUS), the deal is expected to be completed within six months.

S7 Group CEO Vladislav Filev said: "We plan to de-mothball the complex and restart space launches 18 months after the deal approvals are obtained, which is anticipated to be late 2018.

“We expect to be able to perform up to 70 launches within 15 years without making any major investments in upgrades to the Sea Launch complex."

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Meanwhile, the company also entered a cooperation agreement with rocket and space industry group RSC Energia to continue joint efforts to resume the operation of the Sea Launch complex.

Under the contract, RSC Energia will provide all the necessary engineering support and assistance in preparation with launches and system integration to S7 Group.