Germany, USA: Partnership Formed To Build Drilling Rigs

Schlumberger and Bauer Agree on Manufacturing Joint Venture (The Wall Street Transcript)

Joint venture to develop land drilling rigs and rig equipment including for geothermal industry

German company BAUER Maschinen GmbH, an affiliated company of BAUER AG, and Schlumberger today announced the signing of a joint venture agreement to manufacture land drilling rigs and associated products.

Bauer and Schlumberger have 51/49 ownership of the joint venture, respectively. Bauer is an industry leader in specialist foundation drilling equipment manufacturing and provides access to global rig manufacturing capabilities with facilities in Germany, US, China, Far East and Russia. Schlumberger is the world's leading provider of drilling technology, integrated project management and information solutions for customers in the oil and gas industry.

Through the joint venture, land drilling rigs and associated rig equipment for use in the oil, gas and geothermal sectors will be developed and manufactured for Schlumberger and other third parties.

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