March 26, 2020 / 9:32 AM / 3 days ago

Halliburton, Gazprom Neft sign memo on cooperation in Russia

Halliburton oil trucks drive near the company's yard in Williston, North Dakota April 30, 2016. Picture taken April 30, 2016. REUTERS/Andrew Cullen

MOSCOW (Reuters) - Oilfield services firm Halliburton and Russia’s Gazprom Neft have signed an outline agreement on technological cooperation to construct wells at the Achimov oil formation in Siberia, Gazprom Neft said on Thursday.

Cooperation between Western and Russian oil and gas producers has been curtailed by the sanctions imposed on Russia by the United States and Europe following Moscow’s annexation of Crimea from Ukraine in 2014.

The operations at the Achimov formation are not subject to sanctions.

Gazprom Neft and the Houston, Texas-based company, have been working on a number of projects since 2011.

Reporting by Vladimir Soldatkin and Olesya Astakhova; editing by Barbara Lewis

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