Schlumberger Awarded Contracts for Over 450 Wells in Saudi Arabia
Schlumberger (SLB) has been awarded four integrated well construction contracts by Saudi Aramco to support oil and gas development across the Kingdom. The company noted that this represents a significant expansion of its operations in the region, highlighting increased demand for energy infrastructure amid ongoing global supply challenges. The contract is expected to involve more than 450 wells, underscoring Schlumberger's role as a key player in Saudi Aramco’s upstream activities. This development aligns with broader efforts by OPEC+ members and major oil producers to stabilize the market while meeting rising energy demand from industrialized economies. The deal is likely to have positive implications for Schlumberger, reinforcing its presence in one of the world's largest hydrocarbon markets.
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Topics: energy international_business