FX.co ★ ExxonMobil searches for alternative fields

Western sanctions forced chief executives of ExxonMobil oil company adjust their work plans. The company starts to search for new alternative fields, including the Kara Sea shelf. The West Alpha drilling rig can remain with no work due to the sanctions, which was planned to be involved in the exploration of the shelf in this area. Tension between Russia and West forced ExxonMobil to forget about the Russian Arctic and to head to Norway. The managing Director of manufacturing and mining in Norway Dominique Genetti confirmed the information. “We will act in accordance with international and U.S. laws, and this will depend on where it will go,” said Genetti. He also added that it would depend on the cooperation clarity with Rosneft. In early autumn 2014, Rosneft and ExxonMobil began exploratory drilling with the West Alpha platform on northernmost wells of the Russian University-1. In the middle of September, American government imposed new sanctions against Russia. Gazprom, Gazprom Neft, Lukoil, Surgutneftegaz and Rosneft were added to the sanctions list. They were forbidden to deliver goods, services and the technologies necessary for oil production on deep-water sites, the Arctic shelf or in slate layers. On the same day, the European Union supported the U.S. sanctions and published a list of the Russian companies, which came under new restrictions. Sanctions also affected the oil sector.