SLB signed a contract with the Russian oil and gas institute Vnigni to help develop oil and gas field models.
The world’s largest oil services company SLB is expanding into Russia after major Western competitors fled the country following Moscow’s all-out invasion of Ukraine. The Financial Times reported this.
SLB (formerly Schlumberger), signed new contracts and hired hundreds of employees in the Russian Federation even after its two biggest American competitors, Baker Hughes and Halliburton, sold their Russian businesses to local managers in 2022.
SLB signed a contract with the Russian oil and gas institute Vnigni to help develop oil and gas field models.
Media outlets have found more than 1,000 job advertisements posted by the company since December, seeking workers for positions ranging from drivers to chemists to geologists.
Last year, the company said it would stop supplying products and technology to Russia from all SLB facilities around the world “in response to the continued expansion of international sanctions.” But, as the documents show, the company continued to import materials worth $17.5 million. from August to December 2023. Most SLB imports come from China and India.
Western politicians are avoiding the introduction of comprehensive sanctions against Russian oil and gas companies, the publication notes. They fear that this will lead to the cessation of fossil fuel exports and cause a sharp rise in world oil prices.
We remind you that revenues from the sale of oil and gas in the Russian Federation increased by approximately 41% year-on-year in the first half of the year – to $65.12 billion due to rising oil prices and the weakening of the ruble .
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.