SLB, the oilfield services and energy technology company, said its Middle East revenue rose 13% from the previous quarter to about $1.9 billion in the three months to September 30, as activity recovered from disruptions linked to the regional conflict.
Middle East revenue was 12% lower than a year earlier, the company said in its third-quarter results on Friday.
Activity improved in Iraq, Kuwait, Oman, Saudi Arabia, Qatar and the United Arab Emirates. Some countries saw renewed disruptions in the final weeks of the quarter, SLB said.
“In the Middle East, our business grew 13% sequentially despite late-quarter disruptions,” Olivier Le Peuch, SLB’s chief executive, said in the statement.
SLB expects Middle East revenue to stay flat at about $1.9 billion in the fourth quarter, about 83% of the level of the fourth quarter of 2025, Le Peuch told analysts on a conference call.
The company also disclosed new contracts in the Gulf. Petroleum Development Oman awarded SLB a five-year contract for integrated fracturing services in oil and gas fields in onshore Block 6.
Kuwait Oil Company awarded SLB a five-year contract for reservoir characterization technology for unconventional reservoirs, using its deep transient testing, autonomous logging and surveillance services.
SLB did not give values for either contract.
The results also listed four integrated well construction contracts from Saudi Aramco, first announced in September, covering more than 450 wells over a three-year term with an option to extend by up to two years. Le Peuch said SLB is mobilizing for that work in the fourth quarter and expects to reach full capacity in 2027.
Group revenue rose 6% from a year earlier to $9.45 billion in the third quarter. Net income attributable to SLB fell 1% to $735 million.
Revenue in SLB’s Middle East and Asia area rose 9% from the previous quarter to $2.81 billion. The Middle East accounted for 67% of that total.
Le Peuch said the company sees “a very compelling outlook for 2027, with further upside as Middle East activity recovers.”
