Schlumberger awarded a contract for two onshore rigs to UAE rig-builder Lamprell, while its Cameron subsidiary reached an amicable settlement with the builder over jacking equipment issues.
The settlement resulted in Lamprell receiving a proportion of the remedial costs incurred in rectifying the issues related to jacking equipment, the UAE firm said in a statement.
Lamprell said its net cash position will be largely unchanged.
The contract to fabricate two land rigs will be according to Schlumberger's rig of the future design for the Saudi Arabian market, and incorporating newly designed drilling equipment. These are being constructed in Lamprell's existing facilities in the UAE.