Companies Will Develop Oilfield Technologies To Minimize
Costs, Maximize Production
BAAR, Switzerland, Sept. 17,
2019 /PRNewswire/ -- Weatherford International plc
(OTC-PINK: WFTIQ), one of the largest multinational oilfield
service companies, has announced the signing of a five-year
Corporate Procurement Agreement with Saudi Aramco to deliver
cementation, completions, liners, solid expandables and casing exit
technologies. The agreement establishes a foundation for future
collaboration between Weatherford and Saudi Aramco, built on the
forefront of oilfield technology and unsurpassed value.
Weatherford Vice President,
Saudi Arabia, Jim Hollingsworth said, "Weatherford is
energized by the opportunity afforded by Saudi Aramco to deploy our
revolutionary technology in the Kingdom, which will save rig time
and associated costs, while also maximizing production in one of
the world's most challenging environments." Hollingsworth added,
"This agreement sets the stage for future collaboration and will
unlock both game-changing technology and tremendous value.
Weatherford is excited to work with Saudi Aramco now and long into
the future to lead in technology innovation and development."
Mohammed Shammary, Vice
President, Procurement and Supply Chain Management, Saudi Aramco,
said, "We look forward to working with Weatherford to develop
breakthrough energy technologies and reinforce our position in oil
and gas exploration and production. Their robust product portfolio
aligns with our goal to safely achieve production while supporting
the sustainable development of the Kingdom."
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 24,500
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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