The total value of the three contracts for drilling and well services on the Bacalhau field in Brazil is estimated at US$455 million.
The joint initiative will provide global access to Schlumberger’s exploration and production (E&P) cloud-based environment and cognitive applications by leveraging IBM’s hybrid cloud technology, built on the Red Hat OpenShift container platform.
Schlumberger has reported its second straight quarterly loss after recording US$3.7 billion in impairment and restructuring charges.
The Performance Live service provides customers with instant access to data and collaboration with domain experts, enabling faster, more informed decision making for directional drilling, well logging, formation testing and other oil and gas operations.
The company has reported a US$7.4 billion loss as a result of the impact of the Covid-19 pandemic and low oil prices.
The oilfield services company is anticipating a rapid reduction in active drilling and hydraulic fracturing activity.
The second phase of the companies' ultra-long offset node project will extend the footprint of ultra-long offset data to the Northern Green Canyon protraction area.