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Image courtesy of Harald Pettersen/ Statoil.

Schlumberger won an integrated drilling services contract with Norway’s Statoil worth US$240 million (NOK 1.15 billion), Schlumberger said Tuesday.

Schlumberger will provide services for Statoil’s Norwegian Continental Shelf (NCS) licenses Gullfaks, Gullfaks Satellites, Snorre, Statfjord, Tordis/Vigdis and Visund.

The agreement also covers exploration drilling on the NCS.

The contract will secure 350 jobs during the next two years, Statoil said.

The contract is effective September 1, 2014 for an initial duration of two years with three optional two year extensions.

Schlumberger will provide directional drilling, measurement while drilling, logging while drilling and mud logging services.

It will  also deliver RT data transfer, integrated operations, onshore support, drilling optimization and drilling equipment.

“The contract secures supply of services and competent personnel, which ensures cost efficient operations through standardization and focus on the quality of tools and services,” Statoil’s Senior Vice President of Drilling and Well Geir Tungesvik said.