Eurasia Drilling has delayed a deal to sell a stake in the company to Schlumberger. The company said it was waiting for approval from a Russian regulator before proceeding. Both Eurasia and Schlumberger are continuing to cooperate with the Federal Anti-Monopoly Service (FAS) to respond to requests for information regarding the deal.
Schlumberger has reached an agreement to acquire a minority interest in Eurasia Drilling Company (EDC) worth an estimated $1.7billion. The company said the deal extends the long-term relationship they have shared since signing a strategic alliance in 2011. In connection with the agreement, the principal shareholder of EDC will take the company private.
Schlumberger Ltd. (SLB), the world’s biggest oilfield-services company, took a $1.77 billion charge in the fourth quarter as it prepares for an “uncertain environment” after the collapse in oil prices. Net income dropped to $302 million, or 23 cents a share, from $1.66 billion, or $1.26, a year earlier, Houston- and Paris-based Schlumberger said in a statement. The company will cut about 9,000 jobs, 7.1% of its workforce, as it anticipates lower spending by customers in 2015.
Schlumberger has been awarded a drilling contract on the Mariner field by Statoil and its co-venturers. The work will be delivered from the company’s Aberdeen base and it will be responsible for al number of services. A total of 22 drilling and well services are included in the scope, including a logistics support responsibility.