HOUSTON, January 31, 2020—Schlumberger announced today that it has completed the sale of its 49% interest in the Bandurria Sur Block in Neuquén, Argentina to Shell Argentina S.A. and Equinor. YPF will continue as operator of the block.
This divestment covers all of Schlumberger’s interest in the Bandurria Sur shale oil block, consisting of approximately 56,000 gross acres.
“The monetization of our Bandurria Sur interest is an important milestone in Schlumberger’s strategy” commented Olivier Le Peuch, Chief Executive Officer, Schlumberger, “It has been a privilege working in partnership with YPF on the pilot phase of this world-class unconventional resource.”
Schlumberger is the world’s leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. With product sales and services in more than 120 countries and employing approximately 105,000 people who represent over 170 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 sustainably.
Schlumberger Limited has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.92 billion in 2019. For more information, visit www.slb.com.
For further information, contact:
Simon Farrant – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office: +1 (713) 375-3535
Joao Felix – Director of Corporate Communication, Schlumberger Limited
Office: +1 (713) 375-3494