All the oil service companies of the Big Four (Halliburton, Schlumberger, Baker Hughes and Weatherford) have announced the cessation of new investments in the Russian oil and gas market.

The service company of the oil and gas sector Weatherford has announced its position on operations in Russia. The company said it had cut off technology supplies and immediately suspended any new investment in Russia on February 24, immediately after Russia’s invasion of Ukraine. According to the company, there are no existing joint ventures in Weatherford in Russia.

“We extend our deepest condolences to all those affected by the ongoing crisis in Ukraine and sincerely hope that the world will soon be restored… We will adhere to the changing landscape of sanctions and continue to fulfill existing contractual obligations under applicable international law and sanctions… We We are deeply concerned about the crisis and call for a diplomatic and peaceful settlement as soon as possible, “said Weatherford Director-General Girish Saligram.

Baker Hughes Chairman and CEO Lorenzo Simonelli said: “The crisis in Ukraine is a matter of serious concern and we strongly support the diplomatic decision. We condemn the violence and turn our hearts to the people and families of the victims. ” “The health and safety of our employees, customers, partners and their families has always been our top priority. We are constantly monitoring the situation, and today’s announcement follows an internal decision made by our board of directors and brought to our leadership earlier this week. We remain determined to act in full compliance with international sanctions. ”

Director General Olivier Le Pesch Schlumberger said: “We are very concerned about the escalation of the conflict in Ukraine,” – said, “First of all, we are deeply focused on the health, safety and security of our employees, colleagues and their families in Ukraine, Russia and throughout the region. ”

The company added that they evaluated their activities as the situation developed and decided to suspend new investments immediately. “We continue to actively monitor this dynamic situation and will carry out any existing activities in full compliance with applicable international laws and sanctions,” the statement said.

Halliburton noted that a few weeks ago all supplies of specific spare parts to Russia were stopped. Halliburton does not currently have active joint ventures in Russia.

“We are very saddened by the war in Ukraine. We have employees in both Ukraine and Russia, and the conflict is affecting our employees, their families and loved ones throughout the region, ”said Jeff Miller, President and CEO of Halliburton. “From the very beginning of this conflict, we have given priority to the safety of employees and compliance with all relevant sanctions.”

Thus, all the oil service companies of the “Big Four” (Halliburton, Schlumberger, Baker Hughes and Weatherford) announced the cessation of new investments in the Russian oil and gas market.

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