Oilfield service Schlumberger has stopped deliveries of products and technologies to the Russian Federation
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Oilfield services company Schlumberger announced the next stage of downsizing its business in Russia. The company has stopped deliveries of products and technologies “in response to the ongoing expansion of international sanctions,” according to press release.
“Schlumberger takes a serious responsibility to comply with export control laws and economic sanctions, and the company remains in line with the international community in condemning and calling for an end to the war in Ukraine,” the company said in a statement.
Schlumberger has been reducing business in Russia since March 2022 after troops were sent to Ukraine. Initially, this concerned the reduction of investments and the introduction of new technologies. Later, deliveries to the Russian Federation of products from the USA, Canada, Great Britain and the European Union were stopped.
The “Big Four” oilfield services companies Schlumberger, Halliburton, Baker Hughes and Weatherford jointly began to reduce their presence in the Russian Federation in the spring of 2022. Only Halliburton and Baker Hughes completely left the Russian Federation – the business was sold to local management. Weatherford, according to Kommersant, intends to continue to fulfill existing contracts and enter into new agreements with customers.
Read more about the work of oilfield services companies in the material “Kommersant” “Weatherford doesn’t come out of the well”.
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