Schlumberger Launches Tech Agreement With CNPC Logging
Schlumberger is collaborating with China Petroleum Logging Co. Ltd., a subsidiary of China National Petroleum Corporation, to jointly manufacture wireline downhole technology in China. The collaboration will provide CNPC Logging with a license to manufacture fit-for-basin wireline technology.
Schlumberger will support CNPC Logging on the manufacturing and sustaining activities for ThruBit through-the-bit logging technology at the CNPC Logging technology center in Xi’an, Shaanxi province.
“We are very pleased to continue evolving our relationship with CNPC Logging through this new technology access model, starting with ThruBit—one of our differentiated wireline technologies,” Djamel Idri, Wireline president, Schlumberger, said in a statement. “This technology will enable CNPC Logging to significantly improve their logging capabilities in horizontal and vertical wells across all China basins.”
Li Jianhao, president, CNPC Logging, added, “With the growing number of horizontal wells undertaken by CNPC each year, the ThruBit platform has become essential to our reservoir evaluation strategy. In today’s low oil price environment, this partnership is more important than ever and this new business model will help us to achieve mutual benefits."
Schlumberger provides technology for reservoir characterization, drilling, production, and processing to the global oil and gas industry. It has product sales and services in more than 120 countries and employs about 103,000 people as of the end of first quarter of 2020. The company has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.92 billion in 2019.
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