Russian Energy Minister Alexander Novak was scheduled to speak at the conference Tuesday but withdrew over the weekend. Nonetheless, representatives of the Russian oil industry were there.
Patrick Schorn, president of operations and integration at Schlumberger, said so far there has been no impact from the tensions between the U.S. and Russia. On Monday, the U.S. dropped trade and investment talks with Moscow.
"I think everyone is looking at how it is unfolding," he said after appearing on the Russian oil panel.
"At the moment, it is not quite clear how it would affect business in any way," said Schorn, adding that Schlumberger is always monitoring its employees' security.
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Alasdair Shiach, president of Russia-Caspian at Baker Hughes, said the Russian tight oil story is very promising—much like the early days of the North Sea. He said his business is adding to its 3,000 employees in Russia.
Russia very much needs internal investment, he said, and the energy industry is an important part of that.
"A lot of their problem is capital flight," Shiach said.
—By Patti Domm. Follow her on Twitter @pattidomm.