SLB N.V. (SLB) Wins Landmark Aramco Contract for Saudi Uncon…

We recently compiled a list of the 10 Best Long-Term Investments for Kids. SLB N.V. stands among the best long-term investments.

TheFly reported on December 18 that Piper Sandler analyst Derek Podhaizer maintained an Overweight rating on SLB and raised the price target to $45 from $42. This $3 increase reflects confidence in SLB’s international margin expansion and its ability to capture high-growth opportunities in the Middle East, such as the aforementioned Aramco contract.

On December 23, SLB N.V. (NYSE:SLB) announced it had been awarded a significant five-year contract by Aramco to provide stimulation services for Saudi Arabia’s unconventional gas development program. This agreement is part of a broader multi-billion-dollar initiative by Aramco aimed at increasing domestic gas production and diversifying the Kingdom’s energy mix.

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Under the terms of the deal, SLB will deploy its advanced stimulation, well intervention, and frac automation technologies. Steve Gassen, SLB’s Executive Vice President of Digital & Integration, noted that the collaboration aims to redefine operational performance in unconventional resource development, leveraging SLB’s digital solutions to accelerate production efficiency.

SLB N.V. (NYSE:SLB) is a leading energy technology and oilfield services company headquartered in Houston, Texas, and originally founded in 1926 as Schlumberger. It provides a broad range of technology, products, and services to the global energy industry, serving customers in more than 100 countries.

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