Oilfield services giant Schlumberger N.V. (NYSE:SLB) bagged a five-year contract from Petrobras to deploy their Delfi digital platform across the enterprise.
The contract marks Petrobras’ most significant investment in cloud-based technologies and is expected to boost total operations production.
As per the contract, SLB will ensure the digital transformation of Petrobras, including moving subsurface workflows to the cloud to accelerate decision-making capabilities.
“By leveraging AI, machine learning, and high-performance computing technology from SLB, Petrobras will drive aggressive efficiency and production increases across its E&P business. Leveraging the Delfi platform to digitally transform Petrobras’ E&P workflows, will improve efficiency and demonstrates its commitment to sustainability and energy transition,” commented Rakesh Jaggi, president, Digital & Integration, SLB.
In Q1 2023, SLB’s cash flow from operations stood at $330 million, vs. $131 million in Q1 2022, with a free cash outflow of $(265) million.
Price Action: SLB shares are trading lower by 0.45% at $49.08 on the last check Thursday.
