Schlumberger : Opens Manufacturing Center in King Salman Energy Park

Dammam, February 24, 2020-Schlumberger announced today the opening of a world-class manufacturing center in King Salman Energy Park (SPARK) that supports Saudi Aramco's In-Kingdom Total Value Add (IKTVA) program to promote economic growth. The center will manufacture well completions technologies including liner hangers and packers and isolation valve technologies, such as GROVE* valves and ORBIT* rising stem ball valves, to help improve the efficiency of oil and gas operations in the Kingdom and neighboring countries.

The first phase of the manufacturing center, which comprises 105,000 square meters, will create more than 200 new jobs over the next few years and develop a highly skilled manufacturing and supply chain workforce for oil and gas products and services within the region. This is a demonstration of the Schlumberger alignment with the Kingdom's 2030 Vision.

The official ceremony was hosted by Schlumberger CEO Olivier Le Peuch, Schlumberger EVP Operations Khaled Al Mogharbel and Schlumberger Chief Technology Officer Demosthenis Pafitis in the presence of Saudi Aramco Upstream Senior Vice President Mohammed Al Qahtani and other key stakeholders.

'We are delighted with Schlumberger's inauguration of its manufacturing center and congratulate them on playing a very important anchor role at the King Salman Energy Park. This center and SPARK will accelerate solutions across the value-chain for the Saudi Energy Sector that will create opportunities for Saudi men and women in a sustainable way for many generations to come,' said Mohammed Al Qahtani, upstream senior vice president, Saudi Aramco.

'It is with pride that we announce the inauguration of the Schlumberger Manufacturing Center in King Salman Energy Park. As the first upstream services company to establish a manufacturing center in SPARK, we are enabling an agile fit-for-basin capability that links research, product development and now manufacturing to the needs of the Saudi Arabian market,' said Ziad Jeha, president Saudi Arabia & Bahrain, Schlumberger.

King Salman Energy Park is being developed to capture the full economic value from energy-related goods and services in Saudi Arabia and throughout the region, localizing value creation through dedicated industrial development as part of the Kingdom's Vision 2030.

About Schlumberger

Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. With product sales and services in more than 120 countries and employing approximately 105,000 people who represent over 170 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance sustainably.

Schlumberger Limited has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.92 billion in 2019.

For more information, visit www.slb.com.

*Mark of Schlumberger or Schlumberger companies.

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For further information, contact:

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Joao Felix - Director of Corporate Communication, Schlumberger Limited
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