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Statoil says latest deal with Rosneft is compliant with sanctions

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Statoil says latest deal with Rosneft is compliant with sanctions

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OSLO (Reuters) – Norway’s Statoil said on Thursday its cooperation with Russia’s Rosneft in developing the onshore North Komsomolskoye field was compliant with European Union and U.S. sanctions imposed on Russia over the conflict in Ukraine. Statoil confirmed plans to take a 33 percent stake in the field under the cooperation agreement signed with Rosneft in 2013, a year before the sanctions on co-operation in oil production were imposed. “We continue to be transparent about all our activities and we make sure they are compliant with all relevant sanctions,” Statoil’s spokesman said in an email, adding that North Komsomolskoye was a conventional oilfield, containing high-viscous oil.

(Reporting by Nerijus Adomaitis, editing by Gwladys Fouche)
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