SLB Secures Multi-Billion Dollar Contracts in Saudi Arabia Amid Ongoing Conflict

SLB, formerly Schlumberger, has secured four integrated well construction contracts in Saudi Arabia. The company will deliver more than 450 wells over the next three years, with potential for additional work.

The contracts are part of a multi-billion dollar investment in oil and gas production projects across the kingdom, which include over 400 active capital projects worth nearly $41 billion.

Despite the region's turbulent environment, SLB sees opportunities beyond the original contract. 'The granting of these advanced large-scale well-building programs to SLB reflects Aramco's confidence in our integrated model and capabilities,' said Steve Gassen, a vice president at SLB.