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Anti-Russian sanctions

Russian energy giant Rosneft to choose new Arctic partners by late 2014

US energy giant ExxonMobil suspended cooperation with Rosneft on a shelf of the Kara Sea in September amid the Western sanctions

Rosneft CEO Igor Sechin ITAR-TASS/Press service of Rosneft

Rosneft CEO Igor Sechin

© ITAR-TASS/Press service of Rosneft

MOSCOW, November 18. /TASS/. Russia’s top oil producer Rosneft is due to unveil its plan on works on the Arctic shelf with due account of Western sanctions until the end of 2014, Russian Minister of Natural Resources and Environment Sergey Donskoy said on Tuesday.

“You know the story with Exxon and other companies. Therefore, Rosneft is searching for alternative options and at least by the end of the year, our colleagues have promised to introduce their assessment on how they are going to further develop the project,” the minister said.

US energy giant ExxonMobil suspended cooperation with Rosneft on a shelf of the Kara Sea in September amid the Western sanctions. The Russian company later pledged to continue drilling on its own.

“China has announced its interest to the Arctic,” Donskoy said. “I think Rosneft has to independently choose partners out of countries which have not sanctioned Russia, and therefore here will be the final choice,” he added.

“We are ready to consider the proposals from those who are interested in participating in the project,” Donskoy said.

The sectoral sanctions imposed by the United States against Russian oil and gas companies over Moscow’s stance on developments in neighboring Ukraine prohibit US firms from supplying a considerable part of high-tech equipment for new projects.

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