Hourani advises Schlumberger Middle East in its acquisition of 40% stake in AZR Petroleum Contracting Company
Hourani & Partners advised Schlumberger Middle East S.A. (Schlumberger) on its acquisition of a 40% stake in AZR Petroleum Contracting Company.
Schlumberger the world’s largest oilfield services company with a global footprint in more than 100 countries.
AZR Petroleum Contracting Company is a prominent player in the Saudi Arabia oilfield industry, specializing in wireline services. The acquisition provides Schlumberger with enhanced capabilities in wireline operations, enabling them to expand their portfolio and undertake various activities in oil and gas exploration and oilfield operations in the region.
Led by Partner Edoardo Betto*, the transaction involved a cross-border acquisition spanning multiple jurisdictions, including Saudi Arabia, the United Arab Emirates, and The Netherlands. Attorneys Sophia Niazi and Mohammed Zarei* supported in the transaction.
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