Russian oil companies have been refocusing their international positions through the acquisition of exploration and production assets away from the country.
Analysis from the research and consulting firm GlobalData has found countries in the Americas have been providing a number of potential partnerships in the long term.
Anna Belova, a senior upstream analyst covering the Former Soviet Union (FSU), said companies such as Lukoil, Lukoil, Zarubezhneft, Bashneft, Rosneft, and Gazprom are all pushing international diversification.
The move is seen as an increasingly important strategy in light of the sanctions placed on Russian companies after its involvement in Crimea.
Belova said:“Russian upstream companies are now an established presence in the Americas and, given their focus on exploration and early stage projects, are instituting long-term objectives.
“Even if limited benefits are to be gained from Americas-based projects in the near future, they do offer a foundation that should reap benefits over the coming decade if consistently matured.”