Schlumberger Limited/NV (SLB) is a global leader in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Founded in France in 1926 by Conrad and Marcel Schlumberger, the company has become a multinational entity, domiciled in Curaçao, headquartered in four global operations offices in Paris, Houston, London, and The Hague, and conducting its business through various city-centers spanning numerous continents, from North America to Africa, Europe and Asia.
Schlumberger has a diverse product portfolio and operates through its two key business segments. These are Reservoir Characterization and Drilling Group. Reservoir Characterization segment provides reservoir imaging, monitoring, and development services, among several others, which offer detailed evaluation and valuable insights into reservoirs and potential oil and gas reservoirs. The Drilling Group segment is responsible for design and production of drilling fluid systems and drilling equipment.
Being a technology company, Schlumberger invests heavily in research and development (R&D), striving to create innovative technology and services that enable customers to extract hydrocarbon safely, efficiently, and in an environmentally friendly manner. As such, the company operates through three technology groups, namely Characterization, Drilling, and Production. Each has a network of research, engineering, and manufacturing centers that work in concert with the company's scientists to transform ideas and concepts into commercial solutions.
Historically, Schlumberger has a reputation for adopting and implementing advanced technology which has allowed them to continuously stay at the forefront of the industry. The company has a firm commitment to helping their clients locate, understand, and produce oil and gas in ways that are both technologically advanced and environmentally responsible.
Schlumberger has approximately 105,000 employees, representing over 140 nationalities. This diversity in its workforce has greatly contributed to the company's adaptation and success in different environments across the world. The company is committed to fostering an environment in which every employee understands and appreciates the value of diversity.
In terms of financial performance, Schlumberger has demonstrated year after year of sustainable growth with 2020 revenue of approximately $23.6 billion. However, like most in the industry, the company has had to strategically position itself to navigate the various challenges presented by the dynamic oil and gas industry, market volatility, and shifts towards renewable energy. Despite these, Schlumberger remains committed to providing industry-leading products and services, while maintaining focus on its core priorities of cash flow generation and return on capital.