Russia's Rosneft to Continue Arctic Oil Drilling Without Exxon

NOAA Photo Library / FlickrThe Kapitan Dranitsyn icebreaker sailing in the Arctic Ocean, in the north-west of Russia.

Russia's biggest oil producer Rosneft will continue drilling in the Arctic Kara Sea on its own after the departure of its partner, U.S. oil major ExxonMobil, due to sanctions, the company's head Igor Sechin said Friday.

"We will continue drilling in any case, on our own, always and everywhere. If partners can take part, that's good. If they can't, we will carry on alone," Sechin told reporters.

Exxon earlier suspended cooperation with Rosneft in the Arctic due to U.S. sanctions over Moscow's involvement in the conflict in Ukraine.

See also:

Russia's Natural Resources Minister Wants to Lighten Regulation on Shale Oil

Will Western Sanctions Stop Russia's Arctic Oil Expansion?

Exxon Bids Goodbye to Rosneft as Sanctions on Russia's Oil Sector Tighten

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