Schlumberger to acquire stake in Eurasia Drilling Company

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.

Recent Posts

UK allows oil exploration in North Sea wind project zones

The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More

2 days ago

ExxonMobil closes acquisition of Pioneer, creating Permian powerhouse

ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More

2 days ago

BP-Eni joint venture Azule Energy enters Namibia’s Orange Basin

BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More

2 days ago

Chariot starts gas drilling campaign in Morocco

Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More

3 days ago

Touchstone acquires Trinidad E&P player Trinity

Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More

3 days ago

ExxonMobil “optimistic and pushing forward” with Mozambique’s Rovuma LNG

ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More

3 days ago

This website uses cookies.