Russia to get oil technologies from Norway and Switzerland
Russian state oil company Rosneft has concluded agreements with Norwegian and Swiss companies that circumvent EU sanctions prohibiting the supply of technologies and equipment for deep-sea oil production, including on the Arctic shelf.
In early August 2014, Rosneft bought a stake in one of the world’s largest oilfield contractor companies – Swiss Weatherford, RBTH learned from the press service of Rosneft.
According to the agreement, the Russian side will receive eight subdivisions engaged in drilling and well repairs in Russia and Venezuela.
The parties have also agreed on long-term cooperation in the field of oilfield services. The amount of the transaction was not disclosed, but it was learned from the decision of the board of directors of the Russian company on July 28 that Rosneft paid no more than $398.3 million for the Swiss assets.
Rosneft has also signed a long-term agreement on offshore drilling with the Norwegian company North Atlantic Drilling Ltd. The transaction involves the purchase, up to the year 2022, from the Norwegian side, of six offshore rigs for offshore production, including for work in Arctic conditions.
Last week, the European Union banned the supply of technologies for deep-sea oil drilling to Russia, because of which large-scale projects of Rosneft on the shelf became threatened.
However, contracts with the Norwegian and Swiss companies will enable Russia to bypass these restrictions, as Norway and Switzerland are not EU members and are not required to implement sanctions.