The world’s largest oilfield-services company is spending $4.1 billion to enter the artificial-intelligence data-centre cooling market after building an extensive network across Africa’s energy industry.
SLB has agreed to acquire German heat-exchanger and cooling-equipment manufacturer Kelvion.
The transaction consists of approximately $3.4 billion in cash and $700 million of assumed debt, *Reuters *reported.
The companies expect to complete the acquisition during the first half of 2027, subject to regulatory approvals and other closing conditions.
SLB, formerly known as Schlumberger, built its business supplying technology, drilling services and engineering support to oil and gas producers.
The Kelvion acquisition gives it access to equipment that removes heat from data centres, power stations and industrial operations.
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Cooling has become one of the largest technical challenges confronting the AI industry. Advanced computer chips produce enormous amounts of heat, while the largest data centres can consume electricity on the scale of towns or industrial plants.
**From African oilfields to AI infrastructure**
SLB says it operates in 30 African countries through more than 100 locations.
Almost 90% of its employees on the continent work in their home countries, according to the company.
Its operations cover major oil and gas markets including Angola, Nigeria, Egypt, Algeria, Libya, Mozambique and the Republic of Congo.
In March, SLB expanded its digital-operations agreement with Azule Energy, Angola’s largest independent oil and gas producer. The partnership covers technology intended to improve production and reduce operating costs.
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The company now wants data-centre cooling to become a significant additional source of revenue.
SLB projects that its data-centre operation could generate between $4.5 billion and $5 billion in annual revenue by 2028, with adjusted earnings before interest, tax, depreciation and amortisation of between $700 million and $800 million.
Those projections are forecasts rather than guaranteed results.
The African question is whether SLB’s existing engineers, locations and supplier networks will participate in the new business.
Africa’s data-centre market is expanding as banks, telecommunications companies, governments and global cloud providers seek facilities closer to customers. However, unreliable electricity, limited fibre infrastructure and high financing costs continue to constrain construction in many countries.
SLB has not announced that Kelvion will establish a factory in Africa. It has also not promised new African employment, cooling contracts or data-centre investment as part of the takeover.
The immediate significance is therefore strategic: a company with one of the largest technical workforces serving African oilfields is moving towards an industry built around AI, power systems and cooling.
Whether its African operations benefit will depend on where SLB places production, engineering and future contracts after completing the acquisition.
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