Services Include Rotary Steerable Drilling, Geosteering
and Geo-Data Interpretation
HOUSTON, Oct. 31, 2019 /PRNewswire/ -- Weatherford
International plc (OTC-PINK:WFTIQ) announced it has signed two
contracts totaling $67.4 million for
drilling services with two major operators in Russia.
The first contract spans two-and-a-half years. Operations began
in July 2019 and will last through
the end of 2022. Weatherford will provide logging-while-drilling
(LWD), measurement-while-drilling (MWD), rotary steerable systems
(RSS), drilling, and geo-data interpretation services at several
oilfields in Western Siberia.
The second contract is a three-year drilling services
contract. Operations will begin in early 2020 with Weatherford
providing LWD, MWD, RSS, geosteering, and geo-data interpretation
services at the Novyi Port oilfield on the Yamal
Peninsula.
"These long-term contracts with major operators in Russia are a testament to Weatherford's record
of advancing drilling technology and delivering excellent service
in that region," said Fayaz Kamalov,
Weatherford Vice President of
Russia. "Major Russian operators are investing in
Weatherford drilling services
because of our best-in-market technology, unceasing dedication to
growing our capabilities, and the professional knowledge of our
team."
At present, Weatherford is running multiple local facilities to
support its customers and operations in Russia. Three full-time drilling service
centers in key production areas across Russia maintain field equipment, and one
Real-Time Operations Center provides around-the-clock remote
support for all ongoing projects. Weatherford is also mobilizing
the Magnus® RSS to Russia to assist with increased activity and
challenging customer requirements which the system is uniquely
suited to address.
About Weatherford
Weatherford is one of the largest multinational oilfield service
companies providing innovative solutions, technology and services
to the oil and gas industry. The Company operates in more than 80
countries and has a network of 620 locations, including
manufacturing, service, research and development, and training
facilities and employs more than 24,000 people. For more
information, visit www.weatherford.com and connect with
Weatherford on LinkedIn, Facebook, Twitter and YouTube.
Contact:
Christoph Bausch
+1.713.836.4615
Executive Vice President and Chief Financial Officer
Karen David-Green
+1.713.836.7430
Senior Vice President Stakeholder Engagement and Chief Marketing
Officer
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