SLB Partially Scales Back Operations in the Middle East Due to Escalation
The world’s largest oilfield services company SLB (formerly Schlumberger) has begun partially scaling back its operations and has also suspended transit shipments in the Middle East due to the escalation of the situation, according to the company’s press release. The United States and Israel on February 28 began carrying out …
SLB’s Profit Exceeds Forecasts Due to Steady Demand for Oilfield Services
SLB’s performance improvement occurred due to stable demand for its services in certain international regions, which helped offset the slowdown in drilling operations in North America, Mexico, and Saudi Arabia. The company, the first among the major American oilfield service providers to release its report, had previously noted reduced activity …
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 Oilfield Services Subsidiary of Public Joint Stock Company LUKOIL Has Increased Its Turnover
The oilfield services enterprise SpetsPromService, in which Public Joint Stock Company LUKOIL holds a 49.5 percent stake, increased its revenue six hundredfold in the year 2024, reaching 20.4 billion Russian rubles, according to a report by Kommersant. The publication notes that the revenue figures of SpetsPromService are now comparable to …
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 …
Equinor Lets Contracts for Raia Drilling Offshore Brazil
Norwegian energy company Equinor (35%, operator), on behalf of its partners Repsol Sinopec Brasil (35%) and Petrobras (30%), has won a drilling contract with Valaris, represented by Ensco UK Drilling Limited and Ensco do Brasil Petróleo e Gás LTDA, for the Raia project in Brazil. Drilling at Raia is scheduled …
American Oilfield Services Company Turns Its Gaze to the Middle East
On the eve, the American drilling rig manufacturer Helmerich & Payne announced plans to acquire British competitor KCA Deutag International Ltd., which has enough projects in the Middle East. Helmerich & Payne is not one of the “big four” oilfield services companies, for it the acquisition of a company for …
SLB and TotalEnergies Announce 10-Year Partnership to Collaborate on Next-Generation Digital Solutions
SLB and TotalEnergies announced a 10-year partnership to co-develop scalable digital solutions for enabling access to energy resources, with improved performance and efficiency. The partnership establishes a flexible framework for the companies to work together on addressing key challenges across the energy value chain, including carbon capture, utilization, and sequestration …
SLB’s $7,75B ChampionX Acquisition Delayed
Oilfield services company SBL (formerly Schlumberger) said it has received a second request for additional information from the U.S. Department of Justice in connection with its $7.75 billion acquisition of rival ChampionX. ChampionX has also received a second request, SLB said, adding that it now expects the deal to close …
SLB: Lift Better Rodless with the New-Generation ESPCP to Get More from Your Reservoir
Following the worldwide launch of the Reda™ PowerEdge™ energy-efficient wide-range ESPCP system at the Oman Petroleum and Energy Show, we’ve got a wealth of information to share with you on this highly efficient ESPCP system. You’ll be able to lift any API gravity oil with high gas and solids content, …