New Schlumberger CEO has Big Plans for Iraq

Schlumberger‘s incoming CEO, Paal Kibsgaard, has big plans for the company’s business in Iraq.

The 43-year-old Norwegian, who will take over as chief executive on 1st August, is currently Chief Operating Officer of the company, having begun his career with ExxonMobil in 1992.

He will succeed Andrew Gould, who again reiterated that Iraq is a key factor in the improving international outlook.

Just weeks ago, Gould announced that “next year Iraq will be really big”.

Asked about Iraq, where many oil firms have found it hard to establish a foothold, Kibsgaard said it is likely to be Schlumberger’s seventh biggest out of 14 markets in the Middle East and Asia, before improving to No. 3 next year.

Schlumberger was recently chosen to develop Gazprom Neft‘s Badra oilfield.

(Source: Bloomberg)

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