ADNOC Drilling Acquires 70% of SLB’s Drilling Business in Oman and Kuwait
ADNOC Drilling is acquiring a 70% stake in the drilling business of oilfield services company SLB (formerly Schlumberger) in Oman and Kuwait for approximately $112 million. A joint venture will be established based on these assets. The deal, expected to close in the first quarter of 2026, will give ADNOC …
The Largest Oilfield Services Corporation Expands Its Presence in Russia after the Departure of Competitors
Oilfield services Corporation SLB, formerly known as Schlumberger, is strengthening its position in the Russian market after the departure of Western competitors. This was reported by the Financial Times newspaper. “The documents show that the company also continued to import materials from other sources, importing equipment worth $17.5 million between …
The EU Imposed Sanctions Against the Oilfield Services of Eurasia Drilling Company and SSС
The European Union included in the sanctions list of large oil and oil contractors – Eurasia Drilling Company (EDC) and JSC Siberian Service Company (SSС), the publication reported in the EU official journal. In addition, the sanctions were imposed against another oilfield company – the Novosibirsk LLC Neftegazpromstroy. The EDC was …
The United States Extended the License for the Big Four Oilfield Services to Provide Some Services in Venezuela
The Office of Foreign Assets Control (OFAC) has extended until November 15, 2024 the license for Schlumberger, Halliburton, Baker Hughes and Weatherford to provide some oilfield services in Venezuela, the department said in a statement. The document allows these companies, as well as their subsidiaries, to conduct transactions in the …
SLB Introduces Two Innovative Artificial Lift Systems to Enhance Performance and Operating Range
New technologies reduce emissions and improve production economics SLB introduced two advanced artificial lift systems: The Reda™ Agile™ compact wide-range electric submersible pump (ESP) system and the rodless Reda PowerEdge™ electric submersible progressing cavity pump (ESPCP) system. Their breakthrough designs deliver enhanced reliability and efficiency. Connected to digital services for …
Oilfield Service Company SLB Increased Net Profit by 14% in the First Quarter
US oil services company SLB (formerly Schlumberger) increased its net profit by 14.4% in the first quarter of 2024, driven by growth in international markets. Net income in the January-March period was $1.068 billion, or 74 cents per share, compared with $934 million, or 65 cents per share, in the …
SLB Announces First-Quarter 2024 Results, Targeting to Return $7 Billion to Shareholders Over 2024–2025
Revenue of $8.71 billion increased 13% year on year GAAP EPS of $0.74 increased 14% year on year EPS, excluding charges and credits, of $0.75 increased 19% year on year Net income attributable to SLB of $1.07 billion increased 14% year on year Adjusted EBITDA of $2.06 billion increased 15% …
SLB Announces Agreement to Acquire ChampionX in an All-Stock Transaction
Acquisition strengthens SLB as a leader in production space, with world-class production chemicals and artificial lift technologies Combined portfolios will drive customer value through deep industry expertise and digital integration, as well as enhanced equipment life and production optimization ChampionX shareholders to receive 0.735 SLB shares for each share of …
Simple Set-and-Retrieve, Full-Expansion Retrievable Bridge Plug for Temporary Well Plugging
Introducing the groundbreaking SIMextra™ retrievable bridge plug—your ultimate solution for gas-tight, trouble-free well plugging. Why settle for conventional sealing technology when you can experience the innovation of SIMextra plug? Featuring unique segmented-ring technology, this plug ensures not only reliable retrieval every time but also an expansion range and differential pressure …
Oil Service Company SLB Has No Plans To Leave Russia Yet
The head of the company, Olivier Le Peche, noted that the corporation’s team works autonomously in the country; SLB’s priority remains the protection of its assets and employees. The world’s largest American oil service corporation SLB (formerly known as Schlumberger) does not yet intend to leave Russia, despite pressure from …