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Oilfield giants shift to AI infrastructure as drilling slows

SLB, Halliburton and Baker Hughes invest in artificial intelligence infrastructure to offset declining drilling demand in North America.

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Falling investment in drilling is prompting major oilfield service providers to accelerate their diversification into artificial intelligence-related infrastructure. SLB, Halliburton and Baker Hughes are now developing energy and digital solutions for data centres, a fast-growing sector driven by the surging demand for computing power.

Slowing drilling activity redirects corporate focus

Exploration budgets have been reduced by US oil producers as barrel prices hover around $60 and production rises among the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, leaving parts of the drilling fleet idle. In response, industry giants are pivoting towards the increasing demand for electricity, particularly to power high-performance computing infrastructure.

Baker Hughes posts record orders in industrial technologies

Baker Hughes is experiencing strong momentum in its Industrial & Energy Technology division, which includes NovaLT gas turbines, grid systems and digital platforms. The segment recorded over $4bn in new orders in the third quarter, raising its backlog to a record $32bn. Its turbines are now being deployed in hyperscale data centres, while the Cordant Asset Health platform enables better equipment uptime.

Halliburton strengthens partnership with VoltaGrid

Halliburton has deepened its collaboration with Texas-based power generation provider VoltaGrid, which plans to deploy 2.3 gigawatts to support Oracle’s AI-focused data centres. The partnership also includes co-investment in international projects, beginning in the Middle East, combining Halliburton’s global footprint with VoltaGrid’s decentralised energy capabilities.

SLB expands digital revenues with new division

SLB has launched a standalone Digital Division, now the company’s fastest-growing segment. It develops cloud and AI-driven software, automation tools for remote operations, seismic data services and digital consulting. The division posted 11% quarter-on-quarter revenue growth in Q3, with annual recurring revenue reaching $926mn.

In parallel, SLB is offering data centre infrastructure solutions, including modular power supply, cooling and scalable utility systems. These offerings are designed to accelerate deployment timelines and support more resilient, adaptable digital facilities.

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