As a consequence of the WesternGeco seismic restructuring, Schlumberger recorded $1,1 billion in pre-tax charges in the fourth quarter 2017. It was $489 million at the end of the third quarter of 2017.
You are Home The company said WesternGeco had not delivered a return on expectations going forward. 2D and 3D seismic and GeoStreamer data for oil exploration offshore Equatorial Margin The companies signed an agreement where WesternGeco will permanently dismiss the pending lawsuit, grant ION a license to the patents and lift the injunction preventing ION from manufacturing DigiFIN tech, based on WesternGeco patent, in the United States, ION Geo said. WesternGeco. WesternGeco backlog, which is based on signed contracts with customers, was $399 million at the end of the fourth quarter of 2017. 15 Oct 2010, Integra and WesternGeco form seismic joint ventureIntegra Group, based in the former Soviet Union, and WesternGeco, the seismic business segment of Schlumberger, have agreed on the principal terms of an exclusive seismic joint venture company to be known as IG Seismic Services Limited.21 Jul 2010, Schlumberger opens WesternGeco Technology Center in NorwayTerje Riis-Johansen, Minister of Petroleum and Energy for Norway, and Andrew Gould, chairman and chief executive officer of Schlumberger, officiated at the opening of the new center in Oslo.25 May 2010. WesternGeco, a business unit of Schlumberger, is the world's leading geophysical services company, providing comprehensive worldwide reservoir imaging, monitoring, and development services, with the most extensive geophysical survey crews and data processing centers in the industry, as well as the world's largest multiclient data library.
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As a consequence of the WesternGeco seismic restructuring, Schlumberger recorded $1,1 billion in pre-tax charges in the fourth quarter 2017.
It was $489 million at the end of the third quarter of 2017. Subsribe to our newsletter and stay on the loop of what is happening in the petroleum industry and events near you.
Schlumberger Chairman and CEO Paul Kibsgaard said: ”With the significant changes seen in customer priorities and buying habits in recent years, we have also continued to evaluate the present and future return prospects for all of our product lines, as we look to maximize all aspects of the Company’s long-term financial performance.”, “Based on this in-depth analysis, the only product line that does not meet our return expectations going forward, even factoring in an eventual market recovery, is our seismic acquisition business.”, “We have therefore taken the difficult decision to exit the marine and land seismic acquisition market, and instead turn our WesternGeco product line into an asset-light business, built on our leading position within multiclient, data processing, and geophysical interpretation services.”.