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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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.