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Statoil CEO sees projects with Russia’s Rosneft hurt by sanctions

August 25, 2014, 12:35 UTC+3 OSLO
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OSLO, August 25. /ITAR-TASS/. Norway’s energy holding Statoil says Western sanctions can delay joint projects with Russian state-owned oil major Rosneft, Bloomberg reported on Monday citing CEO Helge Lund.

Lund did not say which projects exactly can be hurt by the sanctions.

On August 18, Rosneft and Statoil started exploratory drilling on the Pingvin site in the Norway’s part of the Barents Sea. Rosneft acquired a 20% stake in four sites on the shelf of the sea in 2013, after winning a tender and signing an agreement with Statoil. The companies also have joint projects for the development of four sites in the Sea of Okhotsk.

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