Statoil Seeks Broader Rosneft Ties Despite Russia Sanctions

Statoil ASA is seeking to deepen its ties with OAO Rosneft even as sanctions hinder the Norwegian oil producer’s push to add resources from its eastern neighbor.

Statoil has started a process to secure rig capacity to drill two wells next year in the Sea of Okhotsk in Russia’s far-east and will over the winter months run test production at the North-Komsomolskoye heavy-oil field, said Lars Christian Bacher, executive vice president of the Stavanger-based company’s international development and production.