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Statoil adjusts cooperation with Russia’s Rosneft over sanctions

September 30, 2014, 17:56 UTC+3 OSLO
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OSLO, September 30. /ITAR-TASS/. Norway’s energy holding Statoil continues to cooperate with Russian state-owned oil major Rosneft, but has adjusted its projects to make them comply with the EU sanctions, a representative for the company told PRIME Tuesday.

“We must ensure that the sanctions are compatible with our projects. Cooperation with Rosneft continues. Statoil has adjusted several projects so that they would comply with the sanctions, and we will adjust more if needed. We will not elaborate any further at this stage, but any significant changes will be announced,” the representative said.

In August, Statoil CEO Helge Lung said he sees Western sanctions possibly delaying joint projects with Russian state-owned oil major Rosneft, but did not name the projects exactly.

On Monday, US ExxonMobil said the company suspended 9 out of 10 joint projects with Rosneft due to the sanctions, including exploration drilling of the Universitetskaya-1 well in the Kara Sea, which is to stop on October 10.

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