London—Schlumberger, the world’s biggest oilfield services group, expects spending by oil and gas companies in North America could fall by up to 30% this year and is prepared for further downsizing to adjust to the lower oil price environment. As near six-year lows in global oil price continue to test the economics of many US shale oil producers, Schlumberger CEO Paal Kibsgaard said the group sees onshore US drilling activity continuing to slide in coming months.
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