Schlumberger mulls buying lesser stake in Russia’s EDC

MOSCOW, Mar 15 (PRIME) -- U.S. oilfield servicing giant Schlumberger is discussing different acquisition options for a stake in Russia’s Eurasia Drilling Company (EDC), including the purchase of a stake smaller than 51% that the company initially wanted, the Federal Antimonopoly Service’s Director Igor Artemyev told reporters on Thursday.

“We are discussing everything, both a large and a smaller stake,” he said.

EDC said in July 2017 that its shareholders approved selling a 51% stake in the company to Schlumberger. In November, the service’s Deputy Director Andrei Tsyganov told PRIME that the service and Schlumberger were working on a mechanism to protect the company’s investment into EDC and of economic interests of Russia in case of new Western sanctions.

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