RIYADH, May 20, 2017—Schlumberger today signed a memorandum of understanding with Saudi Aramco to develop an In-Kingdom Total Value Add roadmap, in alignment with the Kingdom’s economic vision for 2030.
The Schlumberger In-Kingdom Total Value Add roadmap includes the creation of jobs and enables development opportunities for Saudis in oil and gas services and related sectors. The roadmap also strengthens the deployment of Schlumberger technology, reduces regional delivery times for key products and services, and increases local capacity and deployment capabilities.
“For more than 75 years, Schlumberger has supported Saudi Aramco and the Kingdom of Saudi Arabia’s oil and gas industry through an unwavering commitment to train and develop Saudi talent, and through a comprehensive portfolio of technologies, execution of integrated projects, and world-class research collaboration,” said Paal Kibsgaard, Chairman and CEO, Schlumberger.
In 1964, the Arabian Drilling Company was established as a partnership between the General Petroleum and Minerals Organization (Petromin) and Schlumberger affiliate companies. Later in 2006, Schlumberger pioneered its Dhahran Carbonate Research Center, located close to King Fahd University with a focus on Geology and Rock Physics and Production Completion and Recovery projects in the Middle East region. In addition, Schlumberger has in-country manufacturing capabilities to support the deployment of its technology, products and services. In 2016, Schlumberger inaugurated its Middle East Center for Reliability and Efficiency (CRE), which collocates maintenance and product center sustaining experts engaging in industry–leading maintenance processes. The Middle East CRE is the largest state-of-the-art facility in the Schlumberger network.
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. For more information, visit www.slb.com.
For further information, contact:
Simon Farrant – Schlumberger Limited, Vice President of Investor Relations
Joy V. Domingo – Schlumberger Limited, Manager of Investor Relations
Tel: +1 (713) 375-3535
Joao Felix – Schlumberger Limited, Director of Corporate Communication
Tel: +1 (713) 375-3494