Aramco has awarded SLB a long-term contract to support the Kingdom's unconventional gas production growth. This five-year agreement is a significant step towards achieving Aramco's Vision 2030 and energy transition goals. The contract encompasses advanced stimulation, well intervention, frac automation, and digital solutions, which are crucial for unlocking Saudi Arabia's unconventional gas resources. These resources are a cornerstone of the Kingdom's strategy to diversify its energy portfolio and accelerate the global energy transition. Steve Gassen, executive vice president at SLB, emphasizes the company's ability to deliver tailored solutions that could redefine operational performance in unconventional resource development. SLB's global technology and local expertise position it to drive innovation in stimulation, intervention, digital, and frac automation, setting new performance benchmarks in unconventional gas development. SLB's commitment to sustainability and environmental initiatives is also highlighted, with a focus on decarbonizing industries and developing new energy systems. This contract is part of a broader multi-billion-dollar agreement, supporting one of the largest unconventional gas development programs globally. SLB's forward-looking statements emphasize the potential benefits of its technologies and partnerships, but also acknowledge the risks and uncertainties associated with achieving net-negative carbon emissions goals and recognizing intended benefits. The company remains dedicated to innovation and collaboration in the energy sector, ensuring a balanced planet for future generations.
