Schlumberger Surges 5.32% on Brazil Contracts as $570M Volume Ranks 180th

Schlumberger (SLB) rose 5.32% on 2025-08-22, with a trading volume of $0.57 billion, a 50.94% increase from the prior day, ranking 180th in market activity. The move followed Petrobras awarding $328 million in well services contracts for the Buzios pre-salt field in Brazil, spanning 2026–2028. Schlumberger and Halliburton will provide intelligent hydraulic completion for up to 18 development wells, including cementing, pressure pumping, and well intervention—critical for deepwater operations.

The contracts underscore Schlumberger’s competitive positioning in Brazil’s oil and gas expansion, leveraging its technological expertise and integrated service offerings. The Buzios field, a key driver for Petrobras, recently hit record production of 900,000 barrels per day. With six FPSO units currently operational and four more set to launch by contract implementation, the project aligns with Petrobras’ long-term output goals, creating sustained demand for Schlumberger’s specialized services.

Despite potential challenges in deepwater execution and regulatory compliance, the agreements highlight Schlumberger’s role in supporting Brazil’s energy infrastructure. The timing aligns with Petrobras’ strategic expansion, offering revenue visibility for Schlumberger amid sector volatility. The contracts are expected to bolster earnings as global oilfield services remain cyclical and sensitive to production trends.

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