Saudi Aramco Awards SLB Holding N.V. 450-Well Construction Contracts

Saudi Aramco awarded SLB Holding N.V. four multi-year integrated well construction contracts to support oil and gas development across Saudi Arabia. Under the terms of the agreement, SLB Holding N.V. will manage end-to-end services to deliver more than 450 wells over a three-year period, with an option to extend the contracts for up to two additional years.

The partnership utilizes a technology-enabled operating model that integrates digital drilling workflows with automated drilling, evaluation, fluids, cementing, and completions services. This expansion builds on decades of collaboration between the two companies and aims to improve efficiency and performance consistency across large-scale drilling programs in the Kingdom's reservoirs.

Steve Gassen, Executive Vice President of Geographies for SLB Holding N.V., stated that delivering hundreds of wells across multiple operating environments requires an integrated model to set new industry performance benchmarks. He noted that the scale of these programs reflects confidence in the company's capabilities. Financial terms of the agreements were not disclosed.