Oilfield services provider Schlumberger will focus on monetizing existing full-field production management contracts in the near to medium term and will not undertake new such deals in the meantime, chairman and chief executive officer Paal Kibsgaard said on Monday. Schlumberger Production Management (SPM) is the full-field production management business model of the oilfield services provider, in which it has actively invested for several years. Schlumberger, however, will not be taking new such projects until it executes and monetizes part of its existing portfolio of full-field production management, Kibsgaard said at a presentation at the Scotia Howard Weil 2019 Energy Conference in New Orleans on Monday. “The SPM model represents our highest level of integration and continues to be a key part of our offering and our future growth potential. Following several years of active investments into our project portfolio, SPM was cashflow neutral in 2018 and will be a […]