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Schlumberger Limited is the leading provider of oilfield technology and services in the world. The company is the largest player in innovative products for the gas and oil exploration industry today. Within this sector, Schlumberger focuses on technological innovations for reservoir drilling, characterization, production and processing. Over the years, it has found massive success by providing a comprehensive selection of products and services while upholding stringent social and environmental standards.
At least 100,000 people work for Schlumberger today, and it operates in more than 85 countries throughout the world. Established in 1926, this company has accumulated an extensive track record of innovation, excellence and success within the oil and gas industry. Its products and services have been credited with making the entire production process more optimal and efficient.
Schlumberger does its work through four groups: Reservoir Characterization, Drilling, Production and the Cameron Group, which has branched off into subsea production services. The company trades on the London Stock Exchange, New York Stock Exchange, Euronext Paris, Euronext Amsterdam and the SIX Swiss Exchange. Schlumberger has also been listed among the top Fortune 500 Global and Forbes Global 2000 companies.
Schlumberger was founded in France by brothers Marcel and Conrad Schlumberger in 1926. It was initially known as the Société de Prospection électrique, which translates to the Electric Prospecting Company. The company started off by providing services in mapping using electrical measurements. By 1927, the firm had already recorded the first electrical resistivity well log ever carried out in France.
Prior to this, the Schlumberger brothers had accumulated a lot of experience by carrying out geophysical surveys in the United States, Canada, Romania, Serbia, Congo and South Africa. After its 1927 success, the firm expanded quickly and soon recorded its first American well in Kern County, California by 1929. In 1935, the brothers went on to establish the Schlumberger Well Surveying Corporation in Houston. This new enterprise evolved into Schlumberger Well Services before rebranding again to Schlumberger Wireline and Testing.
From the outset, Schlumberger placed massive stock on research, investing heavily in a new enterprise called the Schlumberger-Doll Research Center in 1948. Located in Connecticut, this center played a huge role in developing numerous new logging tools. Schlumberger Limited was officially incorporated in 1956 to act as a holding company for all of the firm’s businesses.
Over the years, Schlumberger Limited has continued to grow exponentially through a series of strategic acquisitions, expansions and mergers. It also became listed on the New York Stock Exchange in 1962, enabling Schlumberger to take its global operations to another level.
Today, Schlumberger provides the oil and gas industry with services in well testing, drilling, cementing and stimulation, well completions, artificial lift, seismic acquisition and processing, flow assurance and information and software management. It has also recently branched into groundwater extraction, as well as the carbon capture and storage industries.
The firm also launched Schlumberger Business Consulting based in Paris in 2004. This forms its management consultancy services branch. Furthermore, Schlumberger operates research centers in various countries around the world such as America, England, Russia, Norway and Saudi Arabia.
Paal Kibsgaard is the current CEO and Chairman of Schlumberger. The company maintains four main executive offices throughout the world, specifically in Houston, London, Paris and the Hague. The firm maintains a 33-acre campus in Sugar Land, Texas as its North American headquarters.
Schlumberger has an impeccable environmental track record on key issues like fuel efficiency and carbon management. Newsweek ranked the firm as the 3rd out of 31 other companies in their industry as part of the magazine’s 2009 Green Rankings. Schlumberger has received accolades for its programs to do with measures to mitigate global warming. For instance, the company has invested in carbon sequestration, while their survey ships are up to 25 percent more fuel efficient.
Despite the long-standing poor performance of the energy sector in general, Schlumberger has managed to retain its position as a leader in oilfield equipment and services. This is because the firm has successfully diversified its business model, ensuring that it is not overly reliant on particular lines of business.
Schlumberger has spread its operations over a wide geographical region. By ensuring a presence in more than 85 markets, the firm is effectively insulated from any downturns in the energy business cycle, in any geographic region. Furthermore, Schlumberger’s 2015 merger with Cameron International has added to its portfolio of products and services. This further insulates the company from any economic slowdowns.
Its investments in research and innovation have also been paying off. Companies are turning to Schlumberger for technological solutions that will cut down their production. In 2016, more than 24 percent of the firm’s revenue came from sales of new technology. A focus on tech integration and infrastructure development also continue to propel Schlumberger towards continued success.
300 Schlumberger Dr.
Sugar Land, Texas 77478