Schlumberger takes majority holding of Framo
Offshore staff
HOUSTON –Schlumberger now has 52.75% of Framo Engineering AS following acquisition of an additional 5.5%. Frank Mohn AS holds the remaining shares.
"We have worked closely with Framo through the 3-Phase Measurements joint venture and our increased stake will allow us to strengthen our cooperation in the subsea technology field," says Imran Kizilbash, president, Schlumberger Reservoir Characterization.
Schlumberger says it will consolidate Framo financials starting in 1Q 2008. Frams is a Norwegian company providing multiphase booster pumps, flow metering, and swivel stack systems.
11/21/2007