Schlumberger to acquire 51% stake in Eurasia Drilling Company.

Schlumberger announced an agreement to acquire a majority 51% equity interest in Eurasia Drilling Company. Closing of the transaction is subject to approval by the Federal Antimonopoly Service of Russia (FAS). The agreement extends the successful long-term relationship established by the two companies in 2011. “Unfortunately, we have not yet been able to obtain the needed regulatory approval from the Russian authorities. We’re going to make one final attempt and approach over the coming weeks. And if we see no clear path to obtaining the needed approvals, we are likely going to withdraw our application.” Paal Kibsgaard, Schlumberger CEO.