Aramco Awards Multi-Year Well Construction Contracts to SLB

SLB has secured four multi-year integrated well construction contracts from Saudi Aramco to support oil and gas development across Saudi Arabia, covering the delivery of more than 450 wells over a three-year contract period. The contracts, awarded by Aramco to SLB, have a potential extension of up to two additional years. The combined awards expand the deployment of SLB’s integrated well construction model across the Kingdom’s oil and gas reservoirs and build on decades of collaboration between SLB and Aramco. Under the agreements, SLB will manage end-to-end well construction services, covering the planning, execution and delivery of more than 450 wells during the initial three-year term. SLB’s integrated well construction model brings together multiple aspects of well delivery under a technology-enabled operating model. The approach combines planning, drilling and well delivery through a single operating approach, enabling the integration of digital workflows, automated drilling and multiple well construction technologies. Steve Gassen, Executive Vice President, Geographies at SLB, stated that delivering hundreds of wells across a multi-year program and multiple operating environments requires an integrated model connecting planning, execution and digital workflows. He added that the award of the large-scale well construction programs reflects Aramco’s confidence in SLB’s integrated model and capabilities.