Partner risks

Description Risk management measures
6.1. Risks associated with attracting partners

Given the unstable macroeconomic situation, attracting partners to implement joint projects is both a critical and difficult task. With the large-scale reduction in investment budgets, potential partners are curtailing their activities, and decisions to join new projects are being postponed indefinitely.

The sanctions that have been imposed since 2014 by the United States (taking into account the changes that were adopted in the U.S. sanctions in 2017), EU countries, and certain other states on the Russian energy sector create an additional constraint on the development of partnerships

The Company conducts continuous work with potential partners and mulls the possibility of attracting partners from the Russian Federation and Asia-Pacific region countries that did not impose sanctions on offshore, Arctic, deep-water, and shale projects. Regular negotiations and meetings are held as part of this process, including with the involvement of representatives of the following government authorities: the Government of the Russian Federation, Russian Ministry of Energy, Ministry of Foreign Affairs and Ministry of Economic Development