Schlumberger‘s incoming CEO, Paal Kibsgaard, has big plans for the company’s business in Iraq, according to a Bloomberg report.
Kibsgaard, who will take over from the incumbent Andrew Gould as chief executive on 1 August this year, is currently Chief Operating Officer of the company, having begun his career with ExxonMobil in 1992.
Meanwhile Gould, has again reiterated that Iraq is a key factor in the improving international outlook. Recently 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.
