ExxonMobil receives US government agreement to continue Arctic work with Rosneft. Obama administration granted a brief extension

Previously, sources told Bloomberg that ExxonMobil and Rosneft had halted drilling wells on the Arctic shelf....

American ExxonMobil has confirmed receiving the U.S. government’s permission to continue Arctic drilling works together its partner Rosneft which the company was supposed to stop because of U.S. and European sanctions imposed to punish Russia for escalating tensions in Ukraine, the Bloomberg news agency reported with reference to the company’s statement.

On halting drills

Previously, sources told Bloomberg that ExxonMobil and Rosneft had halted drilling wells on the Arctic shelf.

• Russia’s Minister of Natural Resources, Sergei Donskoy, however, has not confirmed that information to journalists.

• "As far as I know, there has been information that drilling could be halted. But these reports have not been confirmed,” Donskoy said.

Rosneft started drilling wells in the Arctic earlier than deadline mentioned in the license. That is why, the minister said, it would be pre-mature to speak about any problems with the license due to disruption of deadlines.
Rosneft and ExxonMobil started drilling on Russia’s northernmost well - Universitetskaya - with the help of West Alpha rig delivered by Norwegian firm North Atlantic Drilling early in August.
Rosneft and North Atlantic Drilling concluded long-term agreements for drilling wells on the Arctic shelf on July 30, 2014.
West Alpha was transported via the Barents, Pechorsk and Kara Seas and installed at a drilling location on the Vostochno-Prinovozemelsky-1 licensed site in the Kara Sea.
http://en.itar-tass.com/economy/750413
19/9/14
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• Facing U.S. sanctions, Exxon winds down drilling in Russian Arctic....

(Reuters) - Exxon Mobil said on Friday it will wind down drilling in Russia's Arctic in the face of U.S. sanctions targeting Western cooperation with Moscow's oil sector, after the Obama administration granted a brief extension to safely mothball its operations. 

Washington intensified sanctions on Russia on Sept. 12 over its intervention in Ukraine. The measures seek to stop billions of dollars worth of cooperation between Western and Russian energy companies on oil drilling in Russia's Arctic, in Siberia and offshore. Companies have until Sept. 26 to stop the work...................................http://www.reuters.com/article/2014/09/19/us-usa-exxon-russia-idUSKBN0HE27C20140919?feedType=RSS&feedName=worldNews
19/9/14
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Related:

• Exxon Starts "Most Controversial Oil Rig in the World”

• Arctique: Washington souhaite coopérer avec Moscou

• Rosneft to study Arctic’s fauna to protect it during oil exploration

• Rosneft and ExxonMobil approve 4 Arctic projects

• Rosneft gets access to $100bn gas and oil field in Alaska