2017-07-24 13:35:00

SCHLUMBERGER & EURASIA: 51%

SCHLUMBERGER & EURASIA: 51%

EDC - Eurasia Drilling Company Limited (the "Company") announces that its shareholders have today agreed to sell to Schlumberger 51% of the total issued share capital of the Company. The signed agreement is subject to the satisfaction of customary conditions, including approval by the Federal Antimonopoly Service of Russia.

The Company previously announced that it had agreed the principal terms for an investment in the Company by a consortium of the Russian Direct Investment Fund (RDIF), the Russia-Chinа Investment Fund (RCIF, created by RDIF and China Investment Corporation) and leading Middle Eastern co-investors. Work on this investment remains ongoing and the Company expects to enter into a definitive agreement in relation to it in the near future.

Dr. Alexander Djaparidze, EDC's Chief Executive Officer said:

"I warmly welcome Schlumberger as our majority shareholder. It builds on our strategic alliance with Schlumberger since 2011 and our mutually beneficial business relationship since 2007. The combination of the technology knowhow and operational expertise of Schlumberger coupled to the financial strength of the Investment Funds, brings significant benefits to our customers and the Russian conventional land drilling market."

The person responsible for arranging the release of this announcement on behalf of the Company is Dmitry Shokhin, General Counsel.

-----

Earlier: 

SCHLUMBERGER NET LOSS $1.7 BLN 

ROSNEFT - BP - SCHLUMBERGER COOPERATION 

SCHLUMBERGER & CAMERON MERGER 

SCHLUMBERGER CUTS 20,000 JOBS 

EURASIA DRILLING: $1.5 BLN 

SCHLUMBERGER & EURASIA KEY FINANCIALS 

RUSSIA STOP SCHLUMBERGER

 

 

Tags: SCHLUMBERGER, EURASIA, EDC,

Chronicle:

SCHLUMBERGER & EURASIA: 51%
August, 16, 09:45:00

OIL PRICE: NOT ABOVE $52 YET

Brent crude futures LCOc1 were at $51.02 per barrel at 0218 GMT, up 22 cents or 0.4 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $47.70 a barrel, up 15 cents, or 0.3 percent.

SCHLUMBERGER & EURASIA: 51%
August, 16, 09:40:00

OIL PRICES TAKES TIME

New data suggests that in 2Q17 global stocks fell by 0.5 mb/d and preliminary data for July, particularly in the United States where stocks fell by 790 kb/d, is supportive. Even so, we must not forget that they are falling from a very great height in volume terms. At the end of 2Q17, OECD commercial stocks, which are the component of the global total for which we have the most visibility, stood at 3 021 million barrels, still more than 219 mb above the five-year average although they have now fallen below 2016 levels. As an exercise, if OECD stocks fell by 0.5 mb/d until the end of 1Q18 when the current output agreements expire they would still be about 60 mb above the five-year average.

SCHLUMBERGER & EURASIA: 51%
August, 16, 09:35:00

ЦЕНА URALS: $ 49,94

Средняя цена нефти марки Urals по итогам января - июля 2017 года составила $ 49,94 за баррель.

SCHLUMBERGER & EURASIA: 51%
August, 16, 09:30:00

OPEC: GLOBAL OIL DEMAND WILL UP TO 97.8 MBD

OPEC said world oil demand in 2018 will grow 1.28 million b/d from 2017 levels, meaning that total oil consumption is expected to hit a new record high of 97.8 million b/d in 2018.

All Publications »
Exchange Rates
Date: 00:00 00:00
USD 0.00 0.00
EUR 0.00 0.00
GBP 0.00 0.00
UAH 0.00 0.00
ADR bid ask
GAZPROM 0.000.00
LUKOIL 0.00 0.00
ROSNEFT 0.00 0.00
SURGUTNEFTEGAZ 0.000.00
TATNEFT0.00 0.00