Schlumberger announced today an agreement to acquire a majority (51%) equity interest in Eurasia Drilling Company Limited.Closing of the transaction is subject to approval by the Federal Antimonopoly Service of Russia (FAS).
The agreement extends the successful long-term relationship established by the two companies in 2011.
Eurasia Drilling Company Limited is a leading onshore and offshore drilling and well services contractor. EDC owns and operates one of the largest fleets of land drilling and workover units in the world. Schlumberger is the world’s leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry.