Oil Services Giant Schlumberger Expects Global Oil and Gas Investment to Increase
Schlumberger, the international oil services giant, said the company is seeing an increase in global oil and gas production investment in response to the impact of oil and gas supply disruptions.
"The energy sector is shifting its focus, exacerbating an already tight oil and gas market," said Olivier Lepecher, the company's chief executive.
"Disruptions in supply flows will lead to increased investment across the globe and across the energy value chain to ensure the diversification and security of the world's energy supply," Leperhe said.
"The combination of higher commodity prices, demand-driven activity growth and energy security in the absence of a global recession is leading to one of the strongest near-term prospects for the energy services sector, strengthening market fundamentals," he said. Prepare for a stronger, longer-lasting multi-year growth cycle."
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