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Schlumberger to acquire stake in Russia's Eurasia Drilling for $1.7 billion

Reuters

MOSCOW (Reuters) - Eurasia Drilling (EDCLq.L), Russia's largest drilling company by metres drilled, said on Tuesday oil services giant Schlumberger Ltd (SLB.N) would acquire a 45.65 percent stake in the firm for approximately $1.7 billion (1 billion pounds).

Under a multiple-stage deal, Eurasia, formed about 10 years ago from the drilling assets of Russia's second largest oil producer Lukoil (LKOH.MM), will also delist its global depositary receipts, Eurasia said in a statement.

(Reporting by Katya Golubkova, editing by Elizabeth Piper)