Accenture to buy Schlumberger’s management unit

Schlumberger Business ConsultingThe acquisition would further strengthen Accenture Strategy’s ability to provide key strategic insights to clients in the upstream oil and gas industry. (Image source: SBC)Accenture has entered into an agreement to acquire Schlumberger Business Consulting (SBC), management consulting unit of oilfield services company Schlumberger

According to Accenture, the acquisition will expand the capabilities of Accenture Strategy in helping the major exploration and production companies achieve greater competitiveness and growth. Terms of the acquisition were not disclosed, and completion of the acquisition is subject to regulatory approval and other customary closing conditions.

Following completion of the acquisition, all of the SBC employees and associated knowledge assets are expected to join Accenture and become part of Accenture Strategy, further strengthening its ability to assist upstream oil and gas companies improve portfolio optimisation, enhance operational agility and cost competitiveness, as well as plan and execute digital-driven transformations.

Mark Knickrehm, group chief executive at Accenture Strategy, said, “The acquisition will further strengthen Accenture Strategy’s ability to provide key strategic insights to clients in the upstream oil and gas industry. Our technology-driven business strategies and digital knowledge complement the core consulting strengths of the professionals who will join us through this acquisition.”

According to Jean-Marc Ollagnier, group chief executive, Accenture’s Resources operating group, the upstream oil and gas sector is undergoing a fundamental transformation, partly driven by oil price volatility, but also by increased regulation and technology advances. He added that energy companies are also under pressure to improve internal performance in delivering large capital projects, reduce production costs and extend into new areas, including renewables. The acquisition would enhance the company’s capabilities in helping clients navigate the challenges with a combination of business, digital and technology knowhow that differentiates us in this global market.

Jean-Marie Rousset, senior vice-president of Schlumberger Business Consulting, noted, “Our management consulting expertise combined with a deep understanding of exploration and production (E&P) technologies and industry challenges perfectly complement Accenture’s broader portfolio of strategy, consulting, digital and technology services. This will provide a unique value to all E&P companies.”

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