Baker Hughes, Schlumberger suspend Russian investment
US oilfield services firms Baker Hughes and Schlumberger said March 21 they would suspend new investments in Russia, but neither have committed to pulling their operations out.
Baker Hughes said it would continue to comply with applicable laws and sanctions as it fulfils current contract obligations.
“The crisis in Ukraine is of grave concern and we strongly support a diplomatic solution,” CEO Lorenzo Simonelli said. “We condemn violence and our hearts go out to the people and families of those impacted.”
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Schlumberger CEO Olivier Le Peuch said the company has decided to “immediately suspend” new investments and technology deployments to its Russian operations.
“We continue to actively monitor this dynamic situation and will fulfil any existing activity in full compliance with applicable international laws and sanctions,” he said. “Safety and security are at the core of who we are as a company, and we urge a cessation of the conflict and a restoration of safety and security in the region.”