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Anti-Russian sanctions

No Western partner withdraws from Rosneft projects amid sanctions

All the Russian oil giant's projects linked to the participation of Western partners are underway in a normal regime in line with the schedule approved by both sides

© Sergey Savostiyanov/TASS

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Rosneft chief: Oil production in Russia may reach 700 million tons annually

SINGAPORE, September 7. /TASS/. No Western partner has pulled out of Rosneft projects amid the US and EU sanctions, Russia’s oil giant CEO Igor Sechin told a FT Commodities press conference on Monday.

"We strictly comply with all the demands and rules of work on the international markets and appreciate our cooperation with all the partners, including the foreign ones," Sechin said. "In cases when this demands regulation, amid the introduction of sanctions the partners get the respective licenses."

"All our projects linked to the participation of Western partners are underway in a normal regime in line with the schedule approved by both sides. No partner has withdrawn from the projects," he said.

Rosneft is working with US Exxon Mobil oil and gas corporation, Italy’s Eni oil and gas company and Norway’s Statoil oil and gas giant. UK’s British Petroleum "is not just a partner but also Rosneft’s shareholder," he said.

Sechin also reminded of the plans to expand cooperation with BP under the Taas-Yuriakh project in Eastern Siberia.

At the St. Petersburg International Economic Forum in late June, Rosneft and BP signed an agreement on the joint venture to develop the Taas-Yuriakh oil field. Under the $750 million deal, Rosneft will sell a 20% share in this project to the British company.

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Sanctions vs. Russia Oil & Gas Rosneft

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