KCA Deutag Provides Update on Russia Operations & Sanctions

Source: www.gulfoilandgas.com 3/21/2022, Location: Asia

?"We are shocked and saddened by the deteriorating situation in Ukraine, and we join many to call upon all parties to urgently work towards a peaceful resolution in the region," said Joseph Elkhoury, Chief Executive Officer.

"Since the start of the conflict, KCA Deutag established a dedicated committee to actively monitor the situation and stay in full compliance with all applicable sanctions. The Group suspended all new investments in Russia and is evaluating its options relating to the Russian business."

"We remain focused on the health, safety and security of our colleagues and their families in Ukraine and Russia. Our thoughts continue to be with those impacted by these tragic events."


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