Saudi Aramco has awarded a five-year contract to SLB for stimulation services in Saudi Arabia's unconventional gas fields. The contract is part of a broader multi-billion dollar agreement supporting one of the world's largest unconventional gas development programs.

Scope of Work

The contract encompasses advanced stimulation, well intervention, and frac automation services. These technologies are aimed at unlocking more gas from Saudi Arabia's unconventional fields.

Strategic Context

The agreement supports Aramco's strategic efforts to diversify its energy portfolio, aligning with Saudi Arabia's Vision 2030 and energy transition goals.

Broader Partnership History

SLB was among several companies that signed memoranda of understanding (MOUs) with Aramco earlier in the year. In May, Aramco signed MOUs with US companies totaling nearly $90 billion, a group that included SLB, Sempra, Baker Hughes, McDermott, and Halliburton. Aramco revealed an additional $30 billion in deals with US companies in November, which included another pact with SLB.