MOSCOW, September 15 (RIA Novosti) - Western sanctions will not affect Russian oil company Gazprom Neft's cooperation with foreign contractors on shale oil projects, said Vadim Yakovlev, deputy chairman of the Management Board and first deputy CEO.
"We have several projects on shale oil that include the Palyanovskaya zone and the Priobskoye field, as well as joint projects with Shell. We will continue working on these projects," Yakovlev said.
He also spoke of the work at the Prirazlomnoye field, saying that, "At the moment, none of our contractors have refused to work with us on the Prirazlomnoye field. We are in the process of drilling that is conducted by a Russian contractor. … Given the situation, we are considering equipment from other manufacturers, those from Russia included. It concerns our future projects," the first deputy CEO said.
He added that less than 50 percent of the operations at the Prirazlomnoye field rely on foreign contractors. According to Yakovlev, Gazprom Neft does not think that western sanctions can impact its long-term plans concerning the Prirazlomnoye field on the Arctic shelf.
On September 12, a new round of sanctions has been introduced by the European Union and the United States against Russia, targeting the country's largest banks, energy and defense companies, as well as individuals.
The sanctions restrict several Russian companies' access to capital markets, including Gazprom Neft, ban the sale of dual use equipment to nearly a dozen Russian companies, and add dozens of people to the list of those subject to travel and financial restrictions.
The EU also banned European companies from providing technical and other assistance to Russian companies in oil exploration and production, specifically in the areas of Arctic Sea drilling and shale oil projects.
Russian President Vladimir Putin called the use of sanctions ineffective and counterproductive. Presidential spokesman Dmitri Peskov noted that the sanctions did not make any sense when considering Russia's efforts to stop the fighting and to assist in a peace treaty in eastern Ukraine.
