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Sanctions Make ExxonMobil Search For New Deposits
November 23, 2014 18:04


ExxonMobil began the search for alternatives to Russian deposits.

The sanctions of the West against Russia forced the US oil company ExxonMobil to start looking for alternative deposits to use the “West Alpha” drilling platform, which participated in the exploration of the Kara Sea shelf. This was reported by Bloomberg on Thursday, November 20.

In 2015 West Alpha can be used off the coast of Norway, instead of returning to the Russian Arctic waters, as the managing director for the production and extraction of Exxon Mobil in Norway Dominique Jeanette said.  According to him, the final decision will be taken after the prospects of conducting business with “Rosneft” and the extension of the sanctions become clear. “We will act in accordance with international and the US legislation, the place where the platform will go depends on it” – Jeanette said. In August 2014 “Rosneft” and ExxonMobil began exploratory drilling of the Russia’s northernmost well “Universitetskaya-1” with the use of the “West Alpha” platform.

On September 12, 2014 the US imposed new sanctions against Russia in connection with the situation in Ukraine. They affected, in particular, five Russian energy companies – “Gazprom”, “Gazprom Neft”, “Lukoil”, “Surgutneftegaz” and “Rosneft”. They are not allowed to supply goods, services and technologies required for oil production in deep water areas, the Arctic shelf or in the shale strata.

On the same day the EU supported the US sanctions by publishing the list of Russian companies falling under new restrictions. The sanctions also affected the oil sector. In connection with the adoption of new sanctions ExxonMobil was forced to curtail cooperation with “Rosneft”. In October “Rosneft” stated that it was ready to continue works on the “Universitetskaya-1” well in the Kara Sea without participation of ExxonMobil.

Author: Anna Dorozhkina

Tags: ExxonMobil Rosneft sanctions   

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