MOSCOW, October 2 (RIA Novosti) – Energy giant Chevron, the second-largest oil and gas company in the United States, does not plan to alter its scheduled activities in Russia amid Western sanctions, the company's spokesperson Sally Jones told RIA Novosti Thursday.
"Chevron's business activities and plans in the region [Russia] are proceeding as per schedule," Jones said, noting that "Chevron abides by a stringent code of business ethics, under which we comply with all applicable laws."
"We are reviewing the sanctions to ensure strict compliance with the law … We continue to monitor events," Jones added.
Earlier in the week, a spokesperson for ExxonMobil, the largest oil and gas company in the United States, Alan Jeffers, told RIA Novosti that US sanctions imposed against Russia will not have any impact on the Sakhalin-1 project, developed jointly by ExxonMobil and Russia's Rosneft.
Jeffers noted that the wind-down of work activities on 9 of the 10 joint ventures between ExxonMobil and Rosneft was to be complete by September 26.
A fresh round of US sanctions, imposed against Russian on September 12, gave American companies until September 26 to cease all operations with three blacklisted Russian oil companies – Rosneft, Transneft and GazpromNeft.
According to Jeffers, ExxonMobil asked to extend the compliance period for the Kara Sea project because the drilling operations there were "at a critical stage."
Rosneft and ExxonMobil's joint venture company Karmorneftegaz began drilling at the University-1, Russia's northernmost well in the Kara Sea, in August 2013.
Last Saturday, Rosneft and ExxonMobil announced the discovery of oil reserves at the University-1 well. According to Rosneft's chief Igor Sechin, the companies had trapped an estimated 338 million cubic meters of gas and 100 million tons of oil.
