Awards expand deployment of SLB's integrated well construction model across Saudi Arabia’s oil and gas reservoirs

Global energy technology company SLB (NYSE:SLB) today announced it has been awarded four integrated well construction contracts by Aramco to support oil and gas development across the Kingdom of Saudi Arabia. Under the contracts, SLB will manage end-to-end well construction services, delivering more than 450 wells in the three-year term, with an optional extension of up to two years.

"Delivering hundreds of wells across a multi-year program and in multiple operating environments requires an integrated model that connects planning, execution, and digital workflows to set new industry performance benchmarks," said Steve Gassen, executive vice president of Geographies for SLB. "Awarding SLB these advanced well construction programs at scale reflects Aramco’s confidence in our integrated model and capabilities."

SLB's integrated well construction model brings together every aspect of well delivery through a technology-enabled operating model. It combines digital drilling workflows with automated drilling, evaluation, fluids, cementing, and completions products and services to improve efficiency, consistency, and well performance across diverse, large-scale drilling programs.

Building on decades of collaboration between SLB and Aramco, the awards represent a significant expansion of SLB's integrated well construction business in the Kingdom and underscore growing customer adoption of integrated delivery models.

Key Points:

SLB has secured four three-year integrated well construction contracts from Aramco, each with a potential extension of up to two years, to support oil and gas development across Saudi Arabia.
The awards broaden the use of SLB's technology-enabled integrated well construction model, which connects planning, drilling, and well delivery through a single operating approach combining digital workflows, automated drilling and integrated execution.
Building on decades of collaboration between SLB and Aramco, the awards reinforce growing customer adoption of integrated well construction for large-scale drilling programs and highlight the model’s ability to improve execution consistency across the well construction lifecycle.

About SLB

SLB (NYSE:SLB) is a global technology company that has driven energy innovation for 100 years. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "can," "estimate," "intend," "anticipate," "will," "potential," "projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

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