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Schlumberger says happy with PDVSA relationship

Reuters
HOUSTON
Petroleumworld.com 07 30 07

The chief executive of Schlumberger Ltd. (SLB.N: Quote, Profile, Research) on Friday said he was very content with his company's relationship with Venezuela's state oil company PDVSA and would bid on work there if invited.

"We're very happy, more than happy, with our current relationship with PDVSA," Schlumberger CEO Andrew Gould told analysts on a conference call. "We're perfectly prepared to invest if they invited us to tender for work.

Venezuela is requiring that contractors dedicate 10 percent of the total value of their contracts to social development projects. (Reporting by Anna Driver)

Reuters 20 07 07

Copyright© 2007 Reuters. All rights reserved.

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