Schlumberger Acquires Reslink

Schlumberger announced Wednesday that it has signed an agreement to acquire Reslink, the Norwegian-based leading supplier of advanced completion solutions that offers engineering applications and products for sand management, zonal isolation, and intelligent well completions.

With engineering and manufacturing centers in Algard, Norway and Houston, Texas, Reslink A.S. specializes in the development of wire-wrapped sand screens for sandface completions and in-flow control devices. Since its formation 10 years ago, Reslink has focused on designing and building robust and reliable smart-well solutions for advanced well completion and production optimization challenges for the global oil and gas industry.

"I am excited about the synergies between the two companies," said Ole Sveinung Kvernstuen, founder and CEO of Reslink. "Our customers and employees can look forward to benefiting from the broad geographic footprint as well as first class operational support worldwide that comes from being part of Schlumberger."

"We have enjoyed a long-standing partnership with Reslink since 2000," said Patrick Schorn, president and general manager of Schlumberger Completion Systems. "Their track record for reliability and field performance is a real advantage. The addition of Reslink's product portfolio, product development team and production capabilities will strengthen our ability to offer advanced open-hole completion solutions and enhance our services in the sand management business." The acquisition is expected to close before year-end 2006.