SLB (NYSE: SLB) is advancing its transition in the global land rig market, finalizing moves that cement its asset-light strategy and sharpen the focus on innovative, high-value equipment and solutions.

Why it matters

By leveraging third-party partnerships and digital tools, SLB is minimizing capital tied up in physical assets, responding faster to customer needs, and maximizing value for stakeholders.

“This strategic realignment demonstrates SLB’s commitment to an asset-light model — allowing us to deliver cutting-edge rig equipment and solutions that boost both performance and sustainability for our clients worldwide. We extend our gratitude to all teams for their professionalism and dedication through this transition period,” said Cecila Prieto, President, Well Construction.

Background

SLB has been a leader in land drilling operations for decades, significantly expanding its global land rig fleet through acquisition and technology investment since the early 2000s. Known for introducing advancements in rig automation, safety, and efficiency, SLB set industry benchmarks worldwide. The asset-light strategy continues a recent shift away from owning rigs to prioritizing partnerships and advanced technology solutions for clients.

Driving the news

• Oman & Kuwait: SLB’s SLR Oman & Kuwait businesses are now integrated into the newly formed SLDC joint venture (70% ADNOC, 30% SLB) as of December 31, 2025, managing six rigs in Oman and two in Kuwait under independent operations.
• Pakistan: Divested all four land rigs to a local partner (effective December 8, 2025).
• Brazil: Fulfilled contract obligations with Equinor and exited rig management (December 2025).
• Ecuador: Continuing to operate two Maverick rigs as part of its integrated operations.

The bottom line

With the completion of these actions, SLB rolls back its contracting land rig business and is now fully focused on providing advanced rig equipment and digital solutions to elevate drilling performance and value worldwide.