As part of the agreement, Schlumberger will provide support to the National Drilling Company (a subsidiary company of the NOC) in drilling three wells for the Remas Libya Company in the Nesr and Al Waha fields.

The signing ceremony took place in the Ras Lanuf Hall and was also attended by the Chairman of the National Drilling Company, Abdul Moula Abu Fayed, as well as members of the company's management committee, Sultan Abdulaziz and Mohammed Hussein, and the General Manager of Schlumberger Libya, Mustafa Ajaj.

Speaking at the ceremony, NOC Board Member, Hussein Saffar, expressed his satisfaction with the agreement and said that it marks an important step in developing the Libyan oil sector. He added that it demonstrates the Corporation's commitment to working with companies from across the world to increase production and improve the operational efficiency of the sector.

The General Manager of Schlumberger Libya, Mustafa Ajaj, also stated his happiness with the agreement and added that SLB has the necessary experience and technical capabilities to facilitate the increase in production at Libyan oil fields.

The agreement is a 'turnkey contract', a first of its kind in Libya. Furthermore, it exemplifies the NOC's commitment to enhancing collaboration with global companies to bolster production across Libyan oil fields.

About the National Oil Corporation

The National Oil Corporation (NOC) owns refining, and oil and gas processing companies, operating refineriessuch as Zawia and Ras Lanuf refineries, ammonia, urea and methanol plants, the Ras Lanuf petrochemical complex and the gas processing plan. To establish petrochemical industries, anther stage of development of the ethylene plant has been completed , as well as the low and high density linear polyethylene plants.

NOC also owns national service companies which carry out oil well drilling and work over operations, provide all drilling material and equipment, lay and maintain oil and gas pipelines, build and maintain oil and gas storage tanks and carry out related technical and economic studies . They also provide the sector with other services , such as catering, procurement of materials and equipment, training and employment of foreign employees.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition.