Bayat Energy And Schlumberger Sign Memorandum of Understanding To Discuss Agreement For Sale and Lease of Oilfield Equipment in

  Bayat Energy And Schlumberger Sign Memorandum of Understanding To Discuss
      Agreement For Sale and Lease of Oilfield Equipment in Afghanistan

PR Newswire

KABUL, Afghanistan, June 25, 2014

KABUL, Afghanistan, June 25, 2014 /PRNewswire-USNewswire/ -- Bayat Energy and
Schlumberger today announced the execution of a Memorandum of Understanding
detailing a collective plan to discuss a non-exclusive Agreement under which
Schlumberger will sell and/or lease certain of its oilfield equipment to Bayat
Energy for use solely within Afghanistan.

According to Bayat Energy President Ehsannollah Bayat, "I am very excited to
explore an agreement with Schlumberger to greatly accelerate the availability
and deployment of their innovative oil and gas solutions in Afghanistan.
Bayat Energy – working as a dependable, ethical and conscientious partner with
the Government of the Islamic Republic of Afghanistan – aims to actively
explore and develop oil and gas resources in a safe and environmentally
responsible manner by leveraging technology and a talented workforce. We see
this opportunity to discuss a potential agreement with Schlumberger as a
terrific example of the type of world-class strategic collaborations we are
pursuing in order to allow us to help transform the Afghan hydrocarbon
exploration and production industry and develop Afghanistan's resources for
the long-term benefit of the nation and the citizens."

About Bayat Energy

Bayat Energy, part of the larger Bayat Group, is an ambitious oil and gas
exploration, development and production company focused on investing primarily
in frontier markets with large exploration upside that have historically been
underexplored and where we can build a significant presence. Building on an
excellent capital base, high-caliber management team, and innovative
international partnerships, the Company's initial focus is the exploration and
production of the large undiscovered oil and gas reserves in the northern
provinces of the Islamic Republic of Afghanistan. The Company's management
has operated in Afghanistan for more than thirteen years and is able to
utilize existing contacts and capabilities to capitalize on new opportunities
in niche technical and business areas throughout the region leveraging on a
proven track record of success. Please see more at and

About Schlumberger

Schlumberger is the world's leading supplier of technology, integrated project
management and information solutions to customers working in the oil and gas
industry worldwide. Employing approximately 123,000 people representing over
140 nationalities and working in approximately 85 countries, Schlumberger
provides the industry's widest range of products and services from exploration
through production.

Schlumberger Limited has principal offices in Paris, Houston and The Hague and
reported revenues of $45.3 billion in 2013. For more information, visit

CONTACT: Monty Simus,, + 1 201 302 0400

SOURCE Bayat Energy

Press spacebar to pause and continue. Press esc to stop.