ExxonMobil, Shell to Expand Investment in Russia – Energy Minister

© RIA Novosti . Grigory Sisoyev / Go to the photo bankRussian Energy Minister Alexander Novak
Russian Energy Minister Alexander Novak - Sputnik International
Subscribe
US
India
Global
Oil and gas giants ExxonMobil and Royal Dutch Shell have expressed their readiness to continue working in Russia, Russian Energy Minister Alexander Novak said Friday.

ST. PETERSBURG, May 23 (RIA Novosti) – Oil and gas giants ExxonMobil and Royal Dutch Shell have expressed their readiness to continue working in Russia, Russian Energy Minister Alexander Novak said Friday.

“Just now, literally right before the beginning of the session, we talked with the directors of Exxon and Shell and they reconfirmed their desire to continue expanding investment and cooperation with our companies,” Novak said during an interview with CNN on the sidelines of the International Economic Forum in St. Petersburg.

Earlier this month, Russian oil giant Rosneft endorsed four projects to explore and develop Arctic oil reservoirs in the Laptev and Chukchi seas in a joint effort with US-based ExxonMobil. The projects will target four oil-rich reservoirs: the Anisinsk-Novosibirsk and Ust-Oleneksk fields in the Laptev Sea shelf zone, as well as the North-Wrangel-2 and South-Chukchi shelf reservoirs.

Last month, Russian President Vladimir Putin promised to provide support Shell’s operation in the country, including further development of the Sakhalin-2 project, of which the Dutch company owns over three-quarters together with Russia’s Gazprom.

Speculations about a possible suspension of energy deals between European and Russian energy companies arose following the standoff between Moscow and Brussels over the Ukrainian crisis. The Russian Foreign Ministry, however, has repeatedly stated that economic ties, including energy cooperation, should not be damaged by political tensions.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала