pecially in Latin America. As of December 31, 2015, the company’s Latin America customers included Petroleos de Venezuela, S.A. and Petroleos Mexicanos. Strategy Principal components of the company’s strategy include continuously improving the efficiency, productivity and quality of its products and services and their respective delivery to its customers; a commitment to the innovation, invention and integration, development and commercialization of new products and services that meet the evolving needs of its customers across the reservoir lifecycle; and further extending the process, productivity, quality, safety and competency across the company’s global infrastructure to meet client demands for its core products and services in an operationally efficient manner. Research and Development The company’s expenditures for research and development totaled $231 million in 2015. Competition The company’s principal competitors include Schlumberger, Halliburton, Baker Hughes, National Oilwell Varco, Cameron International, Noble Energy, Nabors Industries, and Frank’s International. Significant Events In July 2016, Weatherford International plc announced that it has signed a Joint Initiative Agreement with IBM to collaborate on the development of new products and services for oil and gas producers that leverage IBM advanced analytics and Internet of Things capabilities on the IBM Cloud and further strengthen Weatherford production optimization technologies. History Weatherford International public limited company was founded in 1972.
weatherford international pl
Phone: 41 22 816 1500
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