US oil companies Halliburton Co and Schlumberger have announced a shutdown in Russia amid new US sanctions in response to Russia’s invasion of Ukraine.

According to a statement from Schlumberger, the company has suspended new investments in Russian projects and the use of its technology in Russia.

“We have watched with great concern the escalation of the conflict in Ukraine,” he said

“We have decided to immediately suspend new investment and technology in our operations in Russia. We continue to actively monitor this dynamic situation and will carry out any activities in full compliance with applicable international law and sanctions,” said Schlumberger, CEO. Olivier Le Pesch.

Instead, Halliburton announced the immediate cessation of work on future projects in Russia due to sanctions.

“A few weeks ago, the company stopped all deliveries of certain sanctioned parts and products to Russia. Halliburton has no active joint ventures there,” the company’s website states.

Baker Hughes, one of the largest oil service companies, later announced the suspension of new investments in its operations in Russia.

“The company continues to comply with applicable laws and sanctions, as well as fulfilling current contractual obligations,” – said in a statement posted on the company’s website.

Note that the “big four” of oil service companies include Halliburton, Schlumberger, Baker Hughes and Weatherford, which has not yet commented on its operations in Russia. They specialize in developing solutions and services for the energy industry in stages from hydrocarbon exploration to well construction and production optimization.

(C)CENSOR.NET 2022