The August merger agreement was met with unanimous approval from the companies’ boards of directors, and Schlumberger said the Chinese approval was the last major hurdle before sealing the deal. In February, the European Commission approved Schlumberger’s takeover of Cameron, saying there were “no competition concerns.”
“We are ready to begin the process of realising the synergies made possible by this merger, and our focus in the near term is on the execution of our integration plans, while continuing to deliver safety and quality in our field operations,” Schlumberger chairman and CEO Paal Kibsgaard said in a statement.
Commenting on the integration of portfolios, outgoing Cameron International CEO said it was an “exciting time for all Cameron Employees.” He further added that he expects “improved operational performance, higher levels of cost efficiency and close commercial alignment through new risk-based business models, while continuing to focus on the needs of our customers.”
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
Seatrium has been awarded a contract by SBM Offshore for the topsides fabrication and integration of an additional FPSO vessel… Read More
Diamond Offshore has secured a USD 350-million extension for an ultra-deepwater drillship deployed for Anadarko Petroleum in the US Gulf… Read More
ExxonMobil has made a discovery in the Angolan deepwater, the country's energy regulator announced on Monday Read More
This website uses cookies.