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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.

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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%
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SAUDI ARAMCO WANTS +50%

ARAB NEWS - Saudi's Aramco Trading Company (ATC) expects to increase its oil trading volume to 6 million barrels per day (bpd) in 2020, 50 percent higher than current levels, the company's top official said on Monday.

SCHLUMBERGER EURASIA: 51%
2018, September, 24, 15:00:00

U.S. RIGS DOWN 2 TO 1,053

BAKER HUGHES A GE - U.S. Rig Count is down 2 rigs from last week to 1,053, with oil rigs down 1 to 866, gas rigs unchanged at 186, and miscellaneous rigs down 1 to 1. Canada Rig Count is down 29 rigs from last week to 197, with oil rigs down 13 to 135 and gas rigs down 16 to 62.

SCHLUMBERGER EURASIA: 51%
2018, September, 21, 11:00:00

OIL PRICE: NEAR $79 STILL

REUTERS - International benchmark Brent crude for November delivery LCOc1 was up 26 cents, or 0.33 percent, at $78.96 a barrel by 0647 GMT. U.S. West Texas Intermediate crude for October delivery CLc1 was up 7 cents, or 0.10 percent, at $70.39 a barrel.

SCHLUMBERGER EURASIA: 51%
2018, September, 21, 10:55:00

RUSSIA'S OIL PRODUCTION: 11.3 MBD

BLOOMBERG - Russia's oil output is currently fluctuating between 1.54 million and 1.55 million tons a day -- driven mainly by state-run giant Rosneft PJSC -- the official said, asking not to be named as the information isn’t public yet. That equates to 11.29 million to 11.36 million barrels a day, beating the previous record of 11.25 million barrels a day set in October 2016 before Russia agreed with the Organization of Petroleum Exporting Countries to cut production.

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