Under Sanction Threat, Russia Turns To Own, Chinese Oil Technology
Halliburton, Schlumberger and Baker Hughes all declined to comment on the impact of Russian sanctions. Halliburton said it would comply fully with all laws and trade restrictions and Schlumberger said the Russian market was highly competitive.
In its 2013 report, Schlumberger said Russia and central Asia were the key drivers behind an 8 percent growth in revenues of its Europe, CIS and Africa division to $12.4 billion, a third of its total revenues of $45.3 billion.
Some companies such as Gazprom Neft say they have almost fully switched to local suppliers, spending 95 percent of its purchasing budget at home.
In May, Gazprom Neft signed agreements with Russia's United Heavy Machinery Plants, which produces drilling rigs and refining equipment, and Hydromashservice, a pump producer, for equipment for its onshore, offshore and refining operations.
Rosneft, which is developing its own oil service unit RN-Burenie, recently agreed with Gazprom, Novatek, Gazprombank and other firms to team up to build ships, drilling platforms and marine equipment.
Alexander Korsik, who heads Bashneft, Russia's fastest growing oil company by output, said sanctions on foreign equipment might push Russia closer to China.
"China will simply be seen as more reliable," he said.
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