Schlumberger acquires remaining Framo equity shares

Offshore staff

PARIS – Schlumberger says it has acquired the remaining equity shares in Framo Engineering AS. Subject to regulatory approval, Schlumberger will get those shares from Frank Mohn AS.

“The combination of Schlumberger subsea flow assurance and surveillance capabilities with Framo Engineering’s extensive subsea multiphase boosting and metering capabilities will help our customers better design their subsea infrastructure, optimize production and increase recovery over the life of the field,” said Paal Kibsgaard, COO of Schlumberger Ltd.

“The sale to Schlumberger is an outstanding recognition of the value that has been created over many years,” said Frederik Mohn, MD of Frank Mohn. “We are confident that being part of Schlumberger will enable//Framo Engineering to take on the upcoming large integrated subsea projects worldwide, while clearly recognizing Norwegian skills.”

06/29/2011



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...