June 18, 2018 / 7:08 AM / a month ago

Equinor hands $3.7 billion service deals to Schlumberger, Halliburton, Baker Hughes

OSLO (Reuters) - Norwegian oil and gas firm Equinor (EQNR.OL) has awarded drilling and well service contracts worth 30 billion Norwegian crowns (2.77 billion pounds) to Schlumberger (SLB.N), Halliburton (HAL.N) and Baker Hughes (BHGE.N), it said on Monday.

A logo of Equinor, formerly known as Statoil, is seen at the company's headquarters in Fornebu, Norway May 21, 2018. Picture taken May 21, 2018. REUTERS/Nerijus Adomaitis

The contracts cover integrated well services, such as directional drilling, drill bits, fluids and cementing, for an initial four years, and can be extended for up to 10 years.

“The purpose of integrated drilling and well services is to clarify roles and responsibilities,” Equinor, formerly known as Statoil, said in a statement.

“This results in less interfaces and more clearly defined responsibilities, facilitating more seamless planning and implementation of the operations between the various contributors,” it added.

Last November, oil firm Aker BP (AKERBP.OL) signed a five-year integrated well service alliances with Halliburton, Odfjell Drilling (ODLL.OL) and Maersk Drilling.

Reporting by Nerijus Adomaitis, editing by Terje Solsvik

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