You are here

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

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.


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...