Alexey Miller, Chairman of the Gazprom Management Committee and Andrew Gould, Chairman and Chief Executive Officer of Schlumberger signed a Framework Agreement on technological cooperation development.

The Agreement stipulates introduction of new advanced technologies developed by Schlumberger for the purpose of raising exploration and development efficiency in Gazprom’s fields located in Russia and abroad, as well as cooperation in scientific researches, novel technology development and staff training.

The parties have agreed to form a Joint Work Group and a Coordination Committee to select Technological Projects for joint implementation and to elaborate a Program of long-term cooperation.

Background:

Cooperation between Gazprom and Schlumberger started in the first half of the 1990s with equipment supplies for horizontal well construction.

The further interaction between the companies was effectuated through separate service contracts with subsidiary companies.

Schlumberger is the largest oil and gas field service provider delivering a wide range of services from field prospecting and exploration, well stimulation to specialized software solutions. Schlumberger operates in more than 80 countries worldwide. In Russia Schlumberger possesses more than 40 production facilities, scientific-research centres and equipment manufacture capacities. The largest Russian and foreign oil and gas companies are among Schlumberger customers.