The proposed transaction, unveiled on Wednesday, is set to create a combined entity capable of a full service offering for drilling and production systems and follows rival Halliburton’s earlier announced $32 billion takeover of Baker Hughes that is due to close in December.
Schlumberger, led by chief executive Paal Kibsgaard, already collaborates with Cameron under their OneSubsea engineering and fabrication joint venture that is engaged in projects in the Gulf of Mexico and off Norway, among other areas.
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