SLB Bags Contract For Petrobras' Digital Transformation
Portfolio Pulse from Lekha Gupta
Schlumberger N.V. (NYSE:SLB) has secured a five-year contract from Petrobras for the deployment of their Delfi digital platform across the enterprise. This contract represents Petrobras' largest investment in cloud-based technologies and is expected to enhance total operations production. The deal will facilitate Petrobras' digital transformation, including the transition of subsurface workflows to the cloud. SLB's Q1 2023 cash flow from operations was $330 million, compared to $131 million in Q1 2022.
July 06, 2023 | 4:40 pm
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Schlumberger N.V. has won a significant five-year contract from Petrobras, which is expected to boost Petrobras' operations production. This could potentially increase SLB's revenues and profitability in the long term.
The contract from Petrobras is a significant win for Schlumberger N.V. as it represents a major investment in cloud-based technologies by Petrobras. This could potentially lead to increased revenues and profitability for SLB over the contract period. However, the impact on the stock price in the short term is uncertain as the shares are currently trading lower.
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