Schlumberger revamps deal for Russian driller

Moscow

SCHLUMBERGER Ltd, the world's largest oilfield services provider, has revamped a deal to buy Russia's biggest drilling company, less than two years after a similar plan was scuppered amid opposition from the nation's regulators.

Schlumberger plans to buy 51 per cent of Eurasia Drilling Co (EDC), the two companies said late last Thursday in statements that did not disclose the terms. The deal would be one of the largest investments by a US company into Russia since sanctions were imposed in 2014.