Saudi Aramco Awards Schlumberger Gas Drilling Project

Rhea-AI Summary

Schlumberger has secured a major contract with Saudi Aramco for integrated drilling and well construction services in gas drilling. The project will utilize advanced drilling technologies and digital solutions to enhance drilling performance and efficiency. Key services include drilling rigs, drill bits, and measurement technologies, along with a focus on data analysis and automation through the DrillOps solution. This contract is seen as a significant endorsement of Schlumberger’s technology and expertise in the region, continuing their collaboration with Saudi Aramco.

Positive

• Secured a major contract with Saudi Aramco for integrated drilling services.
• Use of advanced drilling technologies and digital solutions to enhance performance.
• Endorsement of Schlumberger's fit-for-basin technology in gas well development.

Negative

• None.

Integrated well construction project will use differentiated drilling technologies, digital solutions and regional domain expertise to optimize customer performance

DHAHRAN, Saudi Arabia--(BUSINESS WIRE)-- Schlumberger announced today a major contract award by Saudi Aramco for integrated drilling and well construction services in a gas drilling project.

The integrated project scope encompasses drilling rigs and technologies and services, including drill bits, measurement while drilling (MWD) and logging while drilling (LWD), drilling fluids, cementing, and completing wells. Schlumberger will leverage digital solutions to enhance integrated drilling performance, including the DrillOps* on-target well delivery solution which uses data analysis, learning systems and automation to execute a digital well plan, improving drilling efficiency, consistency and performance.

“This contract award represents the continuation of an ongoing collaboration with Saudi Aramco,” said Tarek Rizk, MENA president, Schlumberger. “Through our committed teams, differentiated technology, and integrated drilling and well construction services we will work closely with Saudi Aramco on well delivery and set a new performance benchmark.”

This award represents a significant endorsement of Schlumberger’s fit-for-basin technology and domain expertise for gas well development in the region.

About Schlumberger

Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.

Find out more at www.slb.com.

*Mark of Schlumberger.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220314005893/en/

Media

Giles Powell – Director of Corporate Communication, Schlumberger Limited

Tel: +1 (713) 375-3494

communication@slb.com

Investors

Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited

Joy V. Domingo – Director of Investor Relations, Schlumberger Limited

Tel: +1 (713) 375-3535

investor-relations@slb.com

Source: Schlumberger

FAQ

What contract did Schlumberger win with Saudi Aramco?

Schlumberger won a major contract for integrated drilling and well construction services in a gas drilling project.

What technologies will Schlumberger use in the new project with Saudi Aramco?

Schlumberger will use advanced drilling technologies, digital solutions, and the DrillOps system to improve drilling performance.

How does the new contract impact Schlumberger's collaboration with Saudi Aramco?

The contract represents a continuation and enhancement of Schlumberger's ongoing collaboration with Saudi Aramco.

What is the significance of the contract for Schlumberger investors?

The contract is a significant endorsement of Schlumberger's technology and expertise, which can positively influence its market position.

What is the focus of Schlumberger's work in the new gas drilling project?

The focus includes drilling efficiency and performance using integrated services and differentiated technologies.