Saudi Aramco has awarded Schlumberger two lump sum contracts for drilling rigs and services for oil and gas wells. Under the contracts, Schlumberger Integrated Drilling Services (IDS) will provide drilling rigs and services for up to 146 gas wells and up to 128 oil wells over three years.

Saudi Aramco’s Sr. Vice President, Upstream, Mohammed Qahtani, said: “Saudi Aramco and Schlumberger are key partners who, under these contracts, will be able to bring innovative technologies to the field, and deploy them in our large-scale operations. We have a great history of success with Schlumberger throughout our 75 year partnership in Saudi Arabia, and we have now set the scene for even greater achievements in the future.”

Schlumberger’s Chairman and CEO, Paal Kibsgaard, said: “Schlumberger is proud and humble to be trusted with delivering lump sum gas and oil wells within the Kingdom. Through our committed teams, advanced technology and Integrated Drilling Services we are looking forward to working in close collaboration with Saudi Aramco to successfully deliver these oil and gas wells.”

The contracts are designed to provide an integrated service to deliver wells, which will increase efficiency levels and improve cost-effectiveness, while maintaining the highest safety standards. In developing the agreements, Saudi Aramco and Schlumberger focused on enhanced processes and the latest technology to ensure safe and efficient operations at all times.

About Saudi Aramco

Saudi Aramco is a world leading integrated energy and chemicals company, driven by a core belief that energy is opportunity. From producing approximately one of every eight barrels of the world’s crude oil supply to developing new energy technologies, Saudi Aramco’s global team is dedicated to creating a positive impact. Saudi Aramco is focused on making its resources more sustainable and more useful, promoting long-term economic growth and prosperity around the world.

About Schlumberger

Schlumberger is the world’s leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry’s most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.

Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $27.81 billion in 2016.