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 
KABUL, Afghanistan, June 25, 2014 /CNW/ -- 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 www.bayat-energy.com and 
www.bayat-group.com. 
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 
www.slb.com. 
CONTACT: Monty Simus, m.simus@tsiglobe.com, + 1 201 302 0400
 

SOURCE  Bayat Energy 
CO: Bayat Energy
ST: Afghanistan
NI: OIL UTI ORDER  
-0- Jun/25/2014 15:36 GMT
 
 
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