Exxon reportedly
halts drilling at Russian Arctic well
Carl
Surran, SA News Editor
- Exxon Mobil (NYSE:XOM) has halted drilling at the Universitetskaya-1 well off Russia's remote northern coast, Bloomberg reports, in what would be the first tangible evidence that sanctions are slowing energy investment in the country.
- Work is said to have stopped a few days after the U.S. and EU barred companies from helping Russia exploit Arctic, deepwater or shale oil fields.
- U.S. sanctions gave American companies until Sept. 26 to stop all restricted drilling and testing services, which means XOM and Seadrill's (NYSE:SDRL) North Atlantic Drilling (NYSE:NADL) unit would be under the gun to finish or temporarily seal the $700M well they are developing with Rosneft (OTC:RNFTF).
- "This has been one of the most-watched wells in the industry, so this is a huge deal," an analyst says.
Quote:
August 9, 2014
Rosneft and ExxonMobil Start Drilling in the Kara Sea
Rosneft and ExxonMobil joint venture company Karmorneftegaz began drilling at Universitetskaya-1, the Russian Federation's northernmost well using the West Alpha rig..
Link: http://www.rosneft.com/news/today/09082014.html
Quelle: rosneft.com
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