Schlumberger to acquire stake in Eurasia Drilling Company

Russia

MOSCOW, January 20, 2015 – Schlumberger, the world’s largest oilfield service company, announced plans to buy 45.65-percent stake in Russia’s Eurasia Drilling Company for about $1.7 billion on Tuesday. The acquisition solidifies Schlumberger’s relationship with Russia’s most active onshore drilling company in terms of the number of metres drilled. An offshoot of Lukoil’s in-house drilling unit, Eurasia and Schlumberger entered into a strategic alliance in 2011.

Schlumberger’s investment is one of the largest made by a US-based company in Russia after Western sanctions over the annexation of Crimea early in 2014.

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