In a bid to expand the capabilities of Accenture Strategy when providing services for oil exploration and production companies, Accenture has acquired Schlumberger Business Consulting (SBC), a global leader in oilfield services.

SBC specialises in consulting firms working in the upstream oil and gas industry, but is also widely recognised as a leading player in the energy sector more generally. Mark Knickrehm, global CEO of Accenture Strategy, expressed his excitement at the competitive edge Accenture will gain when providing oil companies with key strategy insights.

The terms of the acquisition are yet to be disclosed and completion of the deal is still subject to regulatory approval.

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