Schlumberger signs MoU with Saudi Aramco

Schlumberger has signed a memorandum of understanding (MoU) with Saudi Aramco to develop an In-Kingdom Total Value Add roadmap.

The roadmap aligns with the country’s economic vision for 2030, as well as enables job and development opportunities in oil and gas services and related sectors.

Furthermore, the roadmap bolsters the deployment of Schlumberger technology, cuts down regional delivery times for core products and services, and boosts local capacity and deployment capabilities.

Schlumberger chairman and CEO Paal Kibsgaard said: “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.”

Arabian Drilling Company was set up in 1964 as a partnership between the General Petroleum and Minerals Organization (Petromin) and Schlumberger affiliate companies.

In 2006, Schlumberger launched its Dhahran Carbonate Research Center, which is situated close to King Fahd University to focus on geology and rock physics, as well as production completion and recovery projects in the Middle East.

In addition, Schlumberger has in-country manufacturing capabilities that support the deployment of its technology, products and services.

Last year, Schlumberger opened its Middle East Center for Reliability and Efficiency (CRE) to collocate a maintenance and product centre to help experts engaged in maintenance processes.

With a presence in more than 85 countries and employing around 100,000 people, the firm supplies a range of products and services, from exploration through to production and integrated pore-to-pipeline solutions enabling optimisation of hydrocarbon recovery.