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Monday, March 21, 2022
American energy services companies Halliburton and Schlumberger are the latest to announce they will join leading oil companies in their exit or scale-down of operations and services to Russia.
Halliburton states it has immediately suspended future business in Russia as the Company complies with sanctions that prohibit transactions and work, including for certain state-owned Russian customers. Halliburton will prioritize safety and reliability as it winds down its remaining operations in Russia.
Several weeks ago, the Company halted all shipments of specific sanctioned parts and products to Russia. Halliburton has no active joint ventures there.
“The war in Ukraine deeply saddens us. We have employees in both Ukraine and Russia, and the conflict greatly impacts our people, their families, and loved ones throughout the region,” said Halliburton Chairman, President and CEO Jeff Miller. “Since the start of this conflict, we prioritized employee safety and compliance with all relevant sanctions.”
Meanwhile, Schlumberger made an announcement of its own. “We have watched with immense concern as the conflict in Ukraine has escalated,” said Chief Executive Officer Olivier Le Peuch. “First and foremost, we are deeply focused on the health, safety and security of our employees, colleagues and their families in Ukraine, Russia and throughout the region.
“As the situation has developed, we have been evaluating our path forward, and have decided to immediately suspend new investment and technology deployment to our Russia operations. We continue to actively monitor this dynamic situation and will fulfill any existing activity in full compliance with applicable international laws and sanctions.
“Safety and security are at the core of who we are as a company, and we urge a cessation of the conflict and a restoration of safety and security in the region.”
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