SLB has signed four integrated well construction contracts with Aramco, which include the construction of over 450 oil and gas wells in Saudi Arabia. These contracts are valid for three years and include options for extension for up to two more years.
Contract Details
These contracts allow SLB to comprehensively manage well construction services. These services will include planning and executing wells in various operational environments in Saudi Arabia. The contracts expand the use of SLB's integrated well construction model, which combines well planning and execution with digital functionalities in drilling, automated drilling, evaluation, drilling fluids, cementing, and well completion technologies.
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Importance of the Integrated Model
Steve Gassen, Executive Vice President of Geographies at SLB, stated: "Delivering hundreds of wells in a multi-year program and in various operational environments requires an integrated model that connects planning, execution, and digital functionalities to create new standards in industrial performance." These statements reflect the importance and complexity of projects in this field, which require coordination and collaboration among different sectors.
The new contracts signify the expansion of SLB's integrated well construction business in Saudi Arabia and are based on the long-term relationship this company has with Aramco. However, the financial details of these contracts have not been disclosed.
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