SLB Secures Four Aramco Contracts to Build Over 450 Saudi Wells, Adds Oman Deal

SLB has been awarded four multi-year integrated well construction contracts by Aramco covering more than 450 wells across the Kingdom of Saudi Arabia. According to SLB's release dated Sept. 24, the wells will be delivered over a three-year term with an optional extension of up to two years. No contract value was disclosed.

SLB described the award as a significant expansion of its integrated well construction business in the Kingdom, reflecting growing customer adoption of integrated delivery models for large-scale drilling programs. Under that model, SLB bundles digital drilling workflows with automated drilling, evaluation, fluids, cementing and completions products and services. "Awarding SLB these advanced well construction programs at scale reflects Aramco's confidence in our integrated model and capabilities," said Steve Gassen, SLB's EVP of Geographies.

In a separate award announced Sept. 23, Omani operator OQ Exploration & Production (OQEP), not Aramco, picked SLB to expand the Bisat-B Expansion Production Facility, raising gross fluids handling capacity to 548,000 bpd. The scope covers design, engineering, procurement, construction and commissioning, with completion scheduled within 19 months, followed by four years of operations and maintenance support. Financial terms were not disclosed. SLB previously delivered the Bisat-A facility in 2018 and Bisat-B in 2020. Zacks framed the Oman win as strengthening SLB's Middle East growth story.

The two deals sit in different business lines: well construction in Saudi Arabia and surface production facilities in Oman. What to watch: whether SLB sizes either award in its backlog or quarterly commentary, whether Aramco exercises the two-year extension, and whether the Bisat-B project stays on its 19-month schedule.