Leading global oilfield services firm Schlumberger highlights in its Q3 results that it sees a key opportunity in the fact that increasing numbers of complex offshore assets are passing from majors into the hands of less experienced IOCs and NOCs (see p4). Firms that will require the likes of Schlumberger to carry out a much higher portion of the work in bringing such assets to production than would be the case if they were still in the hands of majors.
The August 2020 ‘Sakarya’ find of Turkish Petroleum (TP) doesn’t quite fit this template given that the Turkish firm made the discovery under its own exploration efforts, as well as this year’s follow-up ‘North Sakarya’ find (MEES, 11 June). But this month’s award to Schlumberger for an exceptionally broad contract involving “end to end production solutions” certainly fits the template. (CONTINUED - 397 WORDS)
