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The next oil major? Service firm Schlumberger bets big on production

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The expanded operational authority saves Schlumberger from bidding for each of the many jobs that require separate contracts on a large drilling project - effectively locking out the firm's competitors.

Houston

THE world's largest oilfield services company, Schlumberger NV, is spending billions of dollars buying stakes in its customers' oil and gas projects - investing in the same ventures it supplies with equipment and expertise.

The new business model gives Schlumberger a say in...

sentifi.com

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