Schlumberger and Milaha sign MoU for well stimulation vessels

28 September 2020 (Last Updated September 28th, 2020 16:15)

Middle Eastern maritime and logistics firm Milaha has signed a memorandum of understanding (MoU) with American oilfield services firm Schlumberger to order oil well stimulation vessels for work in Qatar.

Schlumberger and Milaha sign MoU for well stimulation vessels
Milaha has signed a key deal with oilfield services firm Schlumberger to boost cooperation. Credit: MILAHA.

Middle Eastern maritime and logistics firm Milaha has signed a memorandum of understanding (MoU) with American oilfield services firm Schlumberger to order oil well stimulation vessels for work in Qatar.

Milaha’s Offshore & Marine arm and Schlumberger entered the formal agreement as a five-year joint development project that will include ‘Qatar-owned, flagged and operated’ well stimulation vessels.

According to Milaha, the first of these offshore stimulation vessels will be designed and outfitted in Qatar.

The cooperation will also support the TAWTEEN initiatives for Qatar.

Led by Qatar Petroleum, the TAWTEEN is a localisation initiative that will focus on the energy sector’s supply chain and expansion of the small and medium enterprises base in Qatar.

It also aims to create new investment opportunities to retain economic value in the country.

In a press statement, Milaha stated: “The resulting Qatar-owned value chain will be a joint service that enhances the expertise of a global multinational service firm like Schlumberger, as well as the leading Qatar-based multi-disciplined local service company like Milaha.”

Schlumberger is a provider of seismic acquisition and processing, artificial lifts, well completions and groundwater extraction, as well as well testing and directional drilling. It has been serving Qatar’s oil and gas sector for more than 70 years.

In February 2019, Qatar Petroleum signed agreements worth more than QR9bn ($2.47bn) with international oil and gas firms as part of a localisation programme to boost the domestic energy industry and reduce dependence on imports.