ABB takes plunge into new underwater venture

ABB looks to underwater technology Keystone

Swiss technology group, ABB, and the United States-based Schlumberger Group say they are to form a joint venture aimed at improving underwater oil and gas development.

This content was published on October 16, 2000 - 10:39

The two companies have signed a memorandum of understanding to work together to develop new technologies and services.

Goran Lindahl, president and chief executive of ABB, said the two companies were well placed to work together. "We will combine Schlumberger reservoir evaluation, development and management experience... with ABB's sub-sea knowledge expertise.

No financial details of the deal have been released.

Schlumberger is a leader in technical services industries, including oil and gas, utilities, semiconductors, smart cards, and network and Internet solutions.

The deal marks another step in ABB's efforts to refocus itself as a technology group.

swissinfo with agencies

This article was automatically imported from our old content management system. If you see any display errors, please let us know:

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at

Share this story

Change your password

Do you really want to delete your profile?