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Schlumberger to continue searching for opportunities to work on Russian drilling market

February 06/ 10:12

Moscow. The international oilfield services provider Schlumberger confirmed that it has withdrawn the application for purchase of a stake in the Russian drilling company EDC from the Federal Antimonopoly Service (FAS) but remains interested in the Russian onshore drilling market, Vice President of Schlumberger Russia and Central Asia Alexander Borisov told TASS.

"While Schlumberger honored all its commitments related to the process of approval of the EDC deal by Russian authorities, we have not yet managed to obtain a required permit of the regulator. We therefore revoked our application. We will continue searching for alternative ways of further participation on the Russian onshore drilling market, which we still regard as highly lucrative," the top manager said.

Schlumberger sent to FAS an official statement on the withdrawal of the petition for the purchase of a stake in EDC, the service told TASS on Monday.

On December 4, 2018, Russia’s governmental commission on foreign investment control yet again did not approve the deal. Later Schlumberger submitted a list of technologies to be transferred in the course of the transaction.

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