Norwegian oil and gas firm Equinor (NYSE: EQNR) has awarded drilling and well service contracts worth 30 billion Norwegian crowns (US$3.68 billion) to Schlumberger (NYSE: SLB), Halliburton (NYSE: HAL) and Baker Hughes (NYSE: BHGE), it said on June 18.
The contracts cover integrated well services, such as directional drilling, drill bits, fluids and cementing, for an initial four years, and can be extended for up to 10 years.
“The purpose of integrated drilling and well services is to clarify roles and responsibilities,” Equinor, formerly known as Statoil, said in a statement.
“This results in less interfaces and more clearly defined responsibilities, facilitating more seamless planning and implementation of the operations between the various contributors,” it added.
Last November, oil firm Aker BP signed a five-year integrated well service alliances with Halliburton, Odfjell Drilling and Maersk Drilling.
Colombia’s state-run oil company Ecopetrol SA is looking to spend $500 million in exploring unconventional deposits over the next three years, its CEO said on March 5, starting with pilot programs in the Magdalena Medio region.
Blackstone Energy Partners made an equity commitment of $500 million in Waterfield Midstream, a Permian Basin oil and gas water management platform.
Drilling rig contractor Maersk Drilling, which will soon list on the Copenhagen stock exchange, said Feb. 25 the offshore drilling market is improving as oil firms generate more cash and look to boost reserves.