SLB Lands Major Deals in Middle East, Boosting Oil and Gas Development

SLB Limited (NYSE:SLB) has secured major contracts in the Middle East region, expanding its footprint through significant contract wins. One of the notable deals is a multi-year integrated well construction agreement with Saudi Aramco for over 450 wells across Saudi Arabia.

The four contracts, each running for three years with an option to extend for up to two additional years, will utilize SLB's integrated well construction model. This approach combines digital drilling workflows with automated services through a single technology-enabled approach.

This model is designed to improve efficiency and execution consistency in large-scale drilling programs. Additionally, the company has won a contract from OQ Exploration & Production for the Bisat-B Expansion Production Facility in Oman, which will increase gross fluids-handling capacity to 548,000 barrels per day within 19 months.