Schlumberger Signs Two Long-Term Transocean Service Agreements

Riser management and subsea blowout preventer service agreements aim to reduce offshore nonproductive time and total cost of ownership

HOUSTON, December 21, 2016—Cameron, a Schlumberger company, today announced the signing of two 10-year pressure control equipment management service contracts on behalf of Transocean valued at greater than $350 million. 

The first contract calls for Schlumberger to manage Transocean’s Cameron risers in the Gulf of Mexico. This comprehensive agreement includes storage, maintenance, inspection, repair, recertification and data-driven riser management on the rigs. Through the second contract, Schlumberger will provide a comprehensive suite of solutions to maintain and service blowout preventer (BOP) systems and other pressure control equipment for nine of Transocean’s ultra-deepwater and harsh environment drilling rigs.

“This agreement leverages the core competencies of Transocean and Schlumberger’s capabilities as an original equipment manufacturer,” said Hunter Jones, president, Drilling Systems, Schlumberger. “Our leadership in technology, hardware and software along with the ability to enhance the value of the data provides a foundation for improving operational performance and availability of pressure control equipment.”

These programs will help to reduce total cost of ownership for the offshore equipment and increase uptime associated with pressure control equipment, through integrated technical, operational and commercial solutions.

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 $35.47 billion in 2015. For more information, visit www.slb.com.

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For further information, contact:

Investors
Simon Farrant – Schlumberger Limited, Vice President of Investor Relations
Joy V. Domingo – Schlumberger Limited, Manager of Investor Relations
Tel: +1 713 375 3535
investor-relations@slb.com

Media
Susan Ganz – Schlumberger, Public Relations Manager-Western Hemisphere
Tel: +1 713 939 2997
sganz1@slb.com


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