Anti-Russia Sanctions Have No Impact on Rosneft's Oil, Gas Shelf Projects

Sanctions imposed on Moscow by the West did not impact the implementation of Russian energy company Rosneft's shelf projects, Rosneft's Licensing and Resources Management Control Department Director Aleksandr Zharov said on Wednesday.

YUZHNO-SAKHALINSK (Sputnik) – Zharov called the West's stance on Russia "mobilizing and motivating" for developing production.

"Our projects will be continued. Difficulties and delays are not the consequences of the sanctions," Zharov said at a conference in Russia's Far East.

According to the Rosneft official, the timeline for some shelf exploration projects was changed because of the need for a more detailed work on projects.

"There will be no delays in the implementation of our shelf projects," Zharov said.

Earlier in the day, Zharov announced that Rosneft and Norway's Statoil planned to continue a joint shelf project drilling in the Sea of Okhotsk in 2019-2020, with the project's assessment being completed by mid-2017.

In 2012, Rosneft and Statoil signed a cooperation agreement providing for the joint development of Russian shelf areas, as well as Rosneft's participation in the development of Norwegian continental shelf areas.