Schlumberger has enjoyed continuous growth as it recorded a 20% year-on-year increase in pre-tax profits in its quarterly results.
The oil and gas services giant reported third quarter revenues of $11.61billion – up 4% from the half-year balance of $11.18billion.
The growth was fuelled by increased income from current operations, primarily in offshore North America. The biggest worldwide growth was recorded in Saudi Arabia and Iraq, the company said.
“Schlumberger third-quarter results reached new highs in both revenue and pre-tax operating income driven by consistent performance across all geographic areas through strong execution based on integration, quality and efficiency,” said Paal Kibsgaard, Schlumberger chief executive.
“We believe that the size of our operations and the breadth of our offering represent significant competitive advantages, and our entire organization is now focusing on executing [internal transformation] initiatives in parallel with maintaining just as clear a focus on our operational execution through integration, quality and efficiency.”
Recommended for you
