Schlumberger has reduced the revenue pressure on oil prices and reduce drilling


Moscow. October 16. International oilfield services company Schlumberger in the third quarter of 2015 decreased revenue by one third in comparison with the same period last year to $8.5 billion

From the quarterly report that the revenue decrease was attributed to the continued decrease in the number of drilling rigs and pressure from low oil prices.

Revenue from work performed in North America in July-September decreased by 47% to $2.3 billion, in other parts of the world (which includes revenue from projects in Russia) – on 27%, to $6.1 billion.

In the second quarter of 2015 Schlumberger showed better results. The company’s revenue in North America was $2.4 billion, the international market – $6.5 billion

Schlumberger notes that the decrease in revenue in the third quarter in international markets due in particular to the reduction of costs from customers. In North America – decrease in the number of drilling rigs for drilling horizontal wells at seven percent.

In the first nine months of the year, the company’s revenue in the North American market fell by 34%, international 18%.

Revenue from drilling contracts in the third quarter decreased by 7% compared with the second quarter to $3.3 billion mainly In drilling activity has reduced the countries of Africa, sub-Saharan, Middle East and Asia, and also Latin America. But this was partially offset by large volumes of drilling in Russia, notes Schlumberger.