Schlumberger acquires engineering firm

Schlumberger has acquired France’s Saltel Industries, the US oil and gas company stated yesterday.

The smaller engineering, manufacturing and services company produces expandable patches which provide water shutoff applications for enhanced production and steel packers for cementing operations. Saltel is headquartered in Ruz near Rennes, France, and has 70 employees at five offices in different countries.

Schlumberger said they would be keeping the higher executives, including Jean Louis Saltel, managing director of the firm. The price of the acquisition was not announced.

“This acquisition strengthens our technology portfolio in the growing completions remedial services market and the unique expandable steel packer technology has potential to disrupt the openhole isolation market,” said Olivier Le Peuch, president of Schlumberger Completions.