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Russia: Schlumberger buying majority stake Eurasia Drilling

 |  July 23, 2017

On July 20, the world’s largest oilfield services company, Schlumberger NV, agreed to buy 51% of Russian Eurasia Drilling Co (EDC).

This is not the first time that Schlumberger has tried to acquire EDC. In 2015 the company agreed to pay US$1.7 billion for 45.65% of EDC, but the deal fell apart after Russia’s antitrust regulator repeatedly delayed approval of the acquisition.

The current agreement is still subject to regulator approval and the financial terms have not been disclosed.

Full Content: Business Insider

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