Schlumberger Signs MOU with Saudi Aramco
Schlumberger signed on May 20th a memorandum of understanding with Saudi Aramco to develop an In-Kingdom Total Value Add roadmap, in alignment with the Kingdom’s economic vision for 2030.
The Schlumberger In-Kingdom Total Value Add roadmap includes the creation of jobs and enables development opportunities for Saudis in oil and gas services and related sectors. The roadmap also strengthens the deployment of Schlumberger technology, reduces regional delivery times for key products and services, and increases local capacity and deployment capabilities.
“For more than 75 years, Schlumberger has supported Saudi Aramco and the Kingdom of Saudi Arabia’s oil and gas industry through an unwavering commitment to train and develop Saudi talent, and through a comprehensive portfolio of technologies, execution of integrated projects, and world-class research collaboration,” Schlumberger Chairman and CEO Paal Kibsgaard stated.
In 1964, the Arabian Drilling Company was established as a partnership between the General Petroleum and Minerals Organization (Petromin) and Schlumberger affiliate companies. Later in 2006, Schlumberger pioneered its Dhahran Carbonate Research Center, located close to King Fahd University with a focus on Geology and Rock Physics and Production Completion and Recovery projects in the Middle East region. In addition, Schlumberger has in-country manufacturing capabilities to support the deployment of its technology, products and services. In 2016, Schlumberger inaugurated its Middle East Center for Reliability and Efficiency (CRE), which collocates maintenance and product center sustaining experts engaging in industry–leading maintenance processes. The Middle East CRE is the largest state-of-the-art facility in the Schlumberger network.