Eurasia Drilling: possible problems because of sanctions

Until now, experts have called Russian drilling companies the main beneficiaries of the EU and the US ban on supply of equipment and technologies for production of oil in the Arctic, deep shelf and shale oil to Russia. One of them is Eurasia Drilling.

Yesterday, during the conference call on publishing of half-yearly results, financial director of the company Richard Anderson said that, although the current impact of the sanctions on the company is not essential, it may increase in the future. "But in the future they [sanctions] may influence the ability of the company to drill the required type of wells, and accordingly, the rate of growth of the business," - said Anderson. The sanctions, according to the financial director, may complicate the implementation of projects of wells drilling at fields of shale hydrocarbons and in Western Siberia. The representative of Eurasia Drilling Company didn’t respond to further questions.