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On September 12, the EU barred the company from its long-term borrowing market.
“I do not think that we can stop our projects due to problems with financing,” Yakovlev said. “There is a certain influence on our finances due to the sanctions,” he said, adding that borrowings became more expensive because the number of offers declined.
In 2014, Gazprom Neft will raise oil output by 2.5% and hydrocarbon output in oil equivalent by 5.5% in this year, he said.
The number of cases when Gazprom Neft’s partners denied it services due to the sanctions has been insignificant, Yakovlev said. The majority of the company’s partners localize services and equipment in Russia and are not affected by the penalties, Yakovlev said.
Yakovlev separately said that Gazprom Neft will soon announce a tender for drilling at the Badra field in Iraq. “At Badra we have launched the first technological start-up facility with an output of 60,000 barrels daily. The goal for now is to load these capacities … We will soon announce an additional tender for drilling.”
He also said that the company will choose a partner for the Dolginskoye field on the Pechora Sea shelf after it adjusts the amount of the field’s reserves.