Canadian-based Packers Plus and Schlumberger in the US have announced an alliance, which enables the two oilfield service companies become channel partners in key markets across the globe.
Under the alliance, Schlumberger will sell the technology of Packers Plus globally, while Packers Plus will sell Schlumberger technology across Canada.
Packers Plus president Ian Bryant said: "By combining the strength of Packers Plus’ technologies in multi-stage completions with Schlumberger’s impressive customer footprint, our two companies will be able to rapidly deliver best-in-class solutions to a wide variety of operators around the world."
The alliance enables both companies to capitalise on their complementary strengths and the agreement will help create new opportunities in the existing low oil price environment.
Furthermore, the alliance will enable them drive their investments and efforts to deliver value to operators worldwide.
By forming the alliance, the companies will also be able to maintain autonomy and preserve an independence to provide continued personalised customer service.
Schlumberger reported revenues of $35.47bn in 2015, supplies technology and integrated project management and information solutions to customers in the oil and gas industry worldwide.
Earlier in April 2016, the company completed its $14.8bn acquisition of US-based flow equipment products manufacturer Cameron International.
The transaction was completed after receiving the unconditional clearance by the Chinese Ministry of Commerce (MOFCOM) in March for the proposed merger.
Image: Schlumberger Solutions Center, the headquarters of Schlumberger. Photo: courtesy of WhisperToMe.
