Schlumberger buys 20 percent stake in Chinese services firm

Oilfield services provider Schlumberger Ltd. bought a 20 percent stake in China?s Anton Oilfield Services Group, Bloomberg reports.

Oilfield services provider Schlumberger Ltd.? ? Schlumberger Ltd. Latest from The Business Journals Houston home tours act as fundraisers and promotional toolsNational Oilwell Varco paid 0M for Schlumberger's WilsonSchlumberger to buy drilling unit Follow this company (NYSE: SLB) bought a 20 percent stake in China?s Anton Oilfield Services Group, Bloomberg reports.

Houston-based Schlumberger purchased 423.4 million shares of Antonoil valued at $82 million, reports Bloomberg.

The two companies began cooperating in 2010 on drilling fluids and well-cementing services. The Middle East and Asia accounted for 23 percent of Schlumberger?s revenue last year, or $8.07 billion, according to the company?s financial statements and reported by Bloomberg.

Antonoil said Schlumberger will not be involved in its management as a minority shareholder.

Emily Wilkinson leads the special publications and weekly Focus sections of the Houston Business Journal.

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