Schlumberger Issues Venezuela Update
Schlumberger CEO Paal Kibsgaard commented, “In Venezuela, after meetings with PDVSA, the collections have improved to the point that we will recognize all revenue associated with our first-quarter operations. We further expect to finalize a new payment agreement with PDVSA and we anticipate ramping up activity to meet the current and future needs of PDVSA’s development and production plans, thereby continuing our commitment to Venezuela.”
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