02:09 PM EDT, 08/16/2024 (MT Newswires) -- SLB (SLB), formerly known as Schlumberger ( SLB ), is expanding its business in Russia as its main western rivals pull out of the country, the Financial Times reported.

In December, SLB's Russian unit signed a contract with Vnigni, a Russian oil and gas institute, that commits the company to help construct models of oil and gas deposits that can be used to develop projects, the FT reported, citing documents obtained by nonprofit Global Witness that were seen by the news outlet.

The Financial Times has identified over 1,000 job postings by SLB since December, covering positions from drivers to chemists and geologists, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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