Eurasia and Schlumberger to exchange drilling assets

Drilling company Eurasia and oilfield services group Schlumberger have announced a signed letter of intent to sell and purchase each other’s drilling and service assets, while entering a strategic alliance in the Commonwealth of Independent States (CIS, the former Soviet Union).

Schlumberger has agreed to sell all drilling, sidetrack and workover rigs currently operating mainly in West Siberia to Eurasia.

As part of the sale, the rigs’ crews will transfer to Eurasia. 

Schlumberger has also agreed to purchase the Eurasia drilling services businesses, which include the directional drilling, measurement while drilling, cementing and drilling fluids services to support 80 rigs.