August 25, 2019, 6:58


Schlumberger Agrees to Transfer Control Over EDC to Russia in Case of Sanctions

Schlumberger Agrees to Transfer Control Over EDC to Russia in Case of Sanctions

Schlumberger Agrees to Transfer Control Over EDC to Russia in Case of Sanctions
©
AP Photo/ Pat SullivanBusiness12:27 19.12.2017(updated 12:36 19.12.2017) Get short URL
0
30

MOSCOW (Sputnik) – US-French oil services giant Schlumberger has agreed to transfer control over Russia’s Eurasia Drilling Company (EDC) and its controlling stake to the Russian side in case anti-Moscow sanctions present problems, the Russian Federal Antimonopoly Service (FAS) Deputy Head Andrey Tsyganov said Tuesday.

Tsyganov told reporters that the watchdog was discussing two conditions with Schlumberger, “the transfer of operational control to the Russian management team… And the second — to sell this package so that the control went to a Russian company or a company that does not fall under these sanctions. On these two points we have also agreed.”

In July, Schlumberger announced its intention to acquire 51 percent of EDC shares, with the company agreeing to the proposal.

READ MORE: Western ‘Sanctions Make French Businesses Invest, Boost Manufacturing in Russia’

Later, Russian Deputy Prime Minister Arkady Dvorkovich said that the deal stalled due to unpredictability of US sanctions.

According to Russian Minister of Natural Resources and Environment Sergei Donskoi, Moscow needs guarantees that the work of EDC will not be affected by the US sanctions should the company’s shares be acquired by Schlumberger. The deal also required approval by FAS.

Sourse: sputniknews.com

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Weather

Moscow

Today08/24/2019
14℃

Sun
08/25/2019
sky is clear

  • sky is clear
  • HI/LO: 20/11
  • Clouds: 0%
  • Wind: 4.34 m/s
  • Wind Direction: NNW
  • Pressure: 1026hPa
  • Humidity: 57%

Mon
08/26/2019
light rain

  • light rain
  • HI/LO: 21/11
  • Clouds: 0%
  • Wind: 3.05 m/s
  • Wind Direction: WSW
  • Pressure: 1027hPa
  • Humidity: 54%

Tue
08/27/2019
light rain

  • light rain
  • HI/LO: 20/10
  • Clouds: 0%
  • Wind: 5.91 m/s
  • Wind Direction: NNW
  • Pressure: 1017hPa
  • Humidity: 52%

Wed
08/28/2019
sky is clear

  • sky is clear
  • HI/LO: 12/6
  • Clouds: 0%
  • Wind: 5.92 m/s
  • Wind Direction: N
  • Pressure: 1024hPa
  • Humidity: 53%

Thu
08/29/2019
sky is clear

  • sky is clear
  • HI/LO: 15/5
  • Clouds: 0%
  • Wind: 4.47 m/s
  • Wind Direction: N
  • Pressure: 1028hPa
  • Humidity: 46%

Fri
08/30/2019
light rain

  • light rain
  • HI/LO: 17/5
  • Clouds: 32%
  • Wind: 3.01 m/s
  • Wind Direction: NW
  • Pressure: 1026hPa
  • Humidity: 53%

NEWS

    Сторонняя реклама



    Статьи
    Статьи В
    Создание Сайта Кемерово, Создание Дизайна, продвижение Кемерово, Умный дом Кемерово, Спутниковые телефоны Кемерово - Партнёры
    Яндекс.Метрика