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Halliburton, Schlumberger and Baker Hughes suspend Russia operations

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Oilfield Technology,

Halliburton, Schlumberger and Baker Hughes have suspended future business in Russia.

Halliburton halted all shipments of specific sanctioned parts and products to Russia several weeks ago. Halliburton has no active joint ventures there.

All three companies have said they will fulfil any existing activity in full compliance with applicable international laws and sanctions.

“The war in Ukraine deeply saddens us. We have employees in both Ukraine and Russia, and the conflict greatly impacts our people, their families, and loved ones throughout the region,” said Halliburton Chairman, President and CEO Jeff Miller. “Since the start of this conflict, we prioritized employee safety and compliance with all relevant sanctions.”

“As the situation has developed, we have been evaluating our path forward, and have decided to immediately suspend new investment and technology deployment to our Russia operations. We continue to actively monitor this dynamic situation and will fulfill any existing activity in full compliance with applicable international laws and sanctions,” said Schlumberger CEO, Olivier Le Peuch.

“The crisis in Ukraine is of grave concern and we strongly support a diplomatic solution. We condemn violence and our hearts go out to the people and families of those impacted,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “The health and safety of our employees, customers, partners, and their families always remains our top priority. We have been continuously monitoring the situation, and today’s announcement follows an internal decision made with our Board of Directors and communicated to our leadership team earlier this week. We remain committed to act in full compliance.”

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