SLB N.V. (SLB), Tuesday announced that it has been awarded a contract by Aramco, Saudi Arabia's state-owned, integrated energy and chemicals company, to provide stimulation services for its unconventional gas fields.
The five-year contract includes advanced stimulation, well intervention, frac automation, and digital solutions, which could potentially unlock Saudi Arabia's unconventional gas resources.
Steve Gassen, executive vice president, Geographies, SLB, noted, "With world-class technology, deep local expertise, and a proven track record in safety and service quality, SLB is well positioned to deliver tailored solutions that could help redefine operational performance in the development of Saudi Arabia's unconventional resources."
Currently, SLB is trading at $38.47, up 0.26 percent on the New York Stock Exchange.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.