Equinor has now transferred its participating interests in four Russian joint ventures to Rosneft and is released from all future commitments and obligations.
In a statement, Joseph Elkhoury, KCA Deutag's CEO, said the company had suspended all new investments in Russia and is evaluating its options relating to its Russian business.
All three companies have said they will fulfil any existing activity in full compliance with applicable international laws and sanctions.
The company has suspended activities with LLC Gusar as a result of the ongoing situation in Ukraine.
The companies will collaborate to drive industry standardisation and sustainable development, as Russia’s energy sector seeks to encourage industry participation by international companies in its drive to expand at home and abroad.
The agreement, signed at the St. Petersburg International Gas Forum, documents the intention of both parties to work together in jointly determining applications and solutions that can benefit from the introduction of new technologies for oilfield services.