Schlumberger Limited (SLB), a renowned global technology enterprise based in Texas, has announced on Wednesday that it has been awarded a collection of pivotal drilling contracts by Shell. These contracts are aimed at advancing the cost-effective development of energy resources across Shell's deepwater and ultra-deepwater holdings in the UK North Sea, Trinidad and Tobago, the Gulf of Mexico, among other locations.
According to SLB, the projects will span a delivery timeline of three years. The strategic plan includes the integration of the company's AI-powered digital drilling technologies with its deep-rooted expertise in ultra-deepwater activities. This approach is intended to consistently produce high-quality wells, thereby improving cost efficiency.
SLB has initiated service delivery to Shell as per the contracts, with each project being centrally managed through SLB's Performance Live centers.
Wallace Pescarini, President of Offshore Atlantic at SLB, commented, "Leveraging our global proficiency in intricate deepwater settings and cutting-edge technological solutions, we are poised to meet Shell's requirements for the secure and proficient development of energy in these projects."
As of the latest market data, SLB's shares are trading at $38.73, reflecting a 1.63% decrease on the New York Stock Exchange.
