Worley withdraws from Russia
Australian engineering group Worley announced on March 10 it was withdrawing from Russia, following on the heels of other Western companies that have left the country because of Moscow's actions in Ukraine.
"We are deeply saddened by the events in Ukraine and support the strong response of the international business community withdrawing from Russia," Worley said in a statement.
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The company said it had "begun the safe withdrawal of its services provided in and into Russia and will not enter into new contracts." It added that its "exposure from this withdrawal is not material to the Worley global business."
Worley's Russian unit ECC-VECO employs over 300 people on Sakhalin Island and in the Khabarovsk region in the Russian Far East. In the past it has provided services to the Sakhalin-1 and Sakhalin-2 oil and gas projects. ExxonMobil and Shell, which have shares of 30% and 27.5% in the respective projects, have both announced their intention to divest from Russia.