The oilfield services giant Schlumberger Ltd. (SLB) has acquired IGEOSS, a France-based provider of geomechanical solutions for subsurface modeling, 2D and 3D structural restoration and fracture characterization of complex geologic structures.
Though the company has not provided any numbers regarding the deal, IGEOSS will be grouped under Schlumberger’s existing software to advance customers’ modeling capabilities, particularly in areas with complex geological formations.
Since the exploration and production activity is getting increasingly complicated, Schlumberger has decided to strategically invest in core technologies to enhance the modeling of challenging environments.
A number of significant acquisitions on the technological front in the recent past have accelerated the company’s growth. Last month, Schlumberger acquired Nexus Geosciences Inc., a Houston-based provider of integrated seismic software and services for rapid imaging, modeling and interpretation.
Schlumberger has also acquired privately held Geoservices from Astorg Partners, a French independent private equity firm. Geoservices is an oilfield services company that specializes in mud logging and production surveillance operations.
Schlumberger continues to benefit from its technology driven superior products and services. The company’s solid technology portfolio and worldwide infrastructure implies that it is strongly positioned to capture growth opportunities as its customers begin to increase their investments.
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