Torjer Halle, Chairman of Schlumberger Norway.

“Cameron’s technology and competence within drilling and BOP’s will play well with our downhole expertise, enabling us to be a provider of complete oil field development”, says Torjer Halle, chairman of Schlumberger Norway.

The world’s largest oilfield services company, has agreed to purchase oilfield equipment maker Cameron International for $14.8 billion. The purchase is pending approval of antitrust authorities in several countries. The deal is expected to go through in the first quarter of 2016.

With dropping oil prices, Schlumberger and the rest of the industry is focused on reducing costs. In a presentation at the Oil and Offshore Conference in Kristiansand Tuesday, Halle showed how Schlumberger in Norway had achieved a 56 per cent more efficient drilling and completion process for a Norwegian operator.

“Operators’ willingness to work more closely with a total supplier, is key in reducing costs. Savings would be measured, not in millions, but in billions NOK”, said Halle.

Schlumberger has 95,000 employees in 85 countries. Schlumberger Norway totals around 3,300 employees in 36 locations.