Schlumberger buys Russia's largest drilling company

19.01.2015       

The largest oilfield service company Schlumberger is buying a 45.65% stake in the largest Russian drilling company Eurasia Drilling Company for $1.7 billion, the Schlumberger press service reported.
“The agreement expands the successful long-term cooperation between the two companies within the strategic alliance signed in 2011», — according to a press release.
It is also noted that the deal should be closed in the first quarter. As part of the agreement, Schlumberger, through one or more subsidiaries, will buy a 45.65% stake in EDC at a price of $22 per share.