HOUSTON (dpa-AFX) - SLB N.V. (SLB), Tuesday announced that it has been awarded a contract by Aramco, Saudi Arabia's state-owned, integrated energy and chemicals company, to provide stimulation services for its unconventional gas fields.
The five-year contract includes advanced stimulation, well intervention, frac automation, and digital solutions, which could potentially unlock Saudi Arabia's unconventional gas resources.
Steve Gassen, executive vice president, Geographies, SLB, noted, 'With world-class technology, deep local expertise, and a proven track record in safety and service quality, SLB is well positioned to deliver tailored solutions that could help redefine operational performance in the development of Saudi Arabia's unconventional resources.'
Currently, SLB is trading at $38.47, up 0.26 percent on the New York Stock Exchange.
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