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Rosneft's Partnership with Norwegian Statoil Still Strong Despite Ukraine Crisis

By Reuters

BERGEN, Norway — Statoil is pushing on with all its projects in Russia, despite the uncertainty of the Crimea crisis, and still expects to drill a new well there this year, a senior executive at the Norwegian oil group said.

Statoil has several joint projects with Russia's largest oil company Rosneft, including deals to explore for oil and gas in Siberia and above the Arctic Circle, as well as shale oil in the south of the country.

Lars Christian Bacher, head of development and production international, said Statoil would go ahead with plans to drill one well with Rosneft this year and two in 2015 at the North-Komsomolskoye heavy oil discovery in west Siberia.

Statoil is one of the select few international oil companies to explore for oil in Russia, along with ExxonMobil and Italy's Eni.

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