Schlumberger buys 45.7% in Russia’s Eurasia Drilling Co for $1.7 bln

MOSCOW, Jan 20 (PRIME) -- U.S. Schlumberger has acquired a 45.65% stake in Russia’s largest oil and gas driller Eurasia Drilling Company for U.S. $1.7 billion, Schlumberger said in a press release on Tuesday.

The deal will be closed in January–March, the company said.

“The agreement extends the successful long-term relationship enjoyed by the two companies within the strategic alliance signed in 2011, which has enabled deployment of a range of drilling and well engineering services to customers in the Russia land conventional drilling market,” it said.

Eurasia Drilling Company does not disclose the structure of its ownership. According to Vedomosti business newspaper, CEO Alexander Dzhaparidze used to control Eurasia Drilling through several funds.

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