Formula One team Scuderia Ferrari have renewed their long-running partnership with oil and gas giant Shell.
The new five-year agreement, announced ahead of last weekend’s Italian Grand Prix, extends a partnership that dates back to the 1930s and sees the Anglo-Dutch company become an ‘innovation partner’ of the Maranello-based outfit.
Under the deal Shell will continue to provide Ferrari with fuels and lubricants, namely its V-Power and Helix Ultra brands, as well as manpower in the form of 50 full-time technical staff who will spend a combined total of at least 21,000 hours working for the team each year.
Financial terms of the deal have not been released but according to the Black Book of Formula One Racing, the previous contract, signed in January 1996 and due to expire in December, was worth US$36 million overall.
“The signing of this contract is another step forward on the path to stability, and we are delighted to work with Shell on an extended basis,” said Ferrari team principal Maurizio Arrivabene.
"Historically the engine is at the very core of Ferrari, which means that everything we do with Shell is working around our heritage as an engine constructor. Already this season the work that Shell has done has contributed to our wins in Malaysia and Hungary, which is proof of not only a professional commitment, but is also the result of a great partnership as well."
As well as Formula One, the new partnership will also cover the provision of fuel and lubricants to Ferrari’s GT teams entering the FIA World Endurance Championship and the Le Mans 24 Hours.
Ferrari's deal with Shell is the oldest partnership in Formula One, dating back to before the world championship started in 1950 and the early racing days of Enzo Ferrari, the Italian marque’s late founder.
Shell is one of Ferrari’s key corporate partners, alongside the likes of Philip Morris International, Santander and UPS. Its sponsorship package includes prominent branding across Ferrari’s race cars and driver overalls.