Petrofac and Schlumberger have announced that they will work together under a new deal signed between the two companies
An announcement to the London Stock Exchange said that the production services and production enhancement arms of the oilfield services companies will work together to win business from major resource holders seeking to develop low-risk reserves. In doing so, they hoped to be a different option in an industry the companies described as being, “characterised by a shortage of capability and capacity.”
Petrofac said its Integrated Energy Services division would work with Schlumberger Production Management to deliver an “integrated and high-value production projects”.
Petrofac IES chief executive Andy Inglis said the new arrangement would see the companies bid for larger projects than they would be able to independently pursue. Both companies will use their own capital for the projects, with neither to seek to book reserves or production, according to the statement.