Oil & Gas

07 Sep 2022

Norwegian Energy Giant Equinor Completes Russia Exit

07 Sep 2022  by   

The Kharyaga field in Russia. Image: Svein Are Enes/ Equinor

Norwegian energy company Equinor has announced it has completed its exit from Russia following a pledge it made in February this year.

It had also confirmed it would not enter any new trades or engage in the transport of oil and oil products from Russia in March.

Equinor had been in Russia for more than 30 years and entered into a co-operation agreement with Rosneft in 2012.

It has now exited from the four joint ventures with state-owned Rosneft as well as the Kharyaga oilfield project.

The company said in a statement: “As part of the exit from Kharyaga, Equinor has in compliance with applicable sanctions covered decommissioning liabilities accrued and owed by Equinor over the years.

“Following the exit from Kharyaga, Equinor has no remaining assets or projects in Russia.”


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