Schlumberger Stock

Schlumberger Limited, together with its subsidiaries, operates as a technology company that drives energy innovation for a balanced planet. The company operates in more than 100 countries.

Divisions

The company operates through four divisions, including Digital & Integration; Reservoir Performance; Well Construction; and Production Systems.

Digital & Integration

Combines the company’s industry-leading digital solutions and data products with its integrated offering of Asset Performance Solutions (APS). This Division enables greater performance for the company’s customers by reducing cycle times and risk, accelerating returns, increasing productivity, and lowering costs and carbon emissions.

The primary offerings comprising this Division are:

Digital Solutions: Includes products, services, and solutions that span the energy value chain from subsurface characterization through field development and hydrocarbon production to carbon management and the integration of adjacent energy systems. Offerings are founded upon proprietary and open-source data platform technologies, industry-leading simulators and workflow tools, and include domain-specific application of innovative digital capabilities, such as artificial intelligence and machine learning. Solutions are deployable on traditional on-premise IT infrastructures, the cloud, and the edge, allowing for full market coverage irrespective of customer constraints.

Exploration data and data processing: Provides comprehensive worldwide reservoir interpretation and data processing services, enabled by a scientifically advanced platform and innovative subsurface imaging techniques for exploration data, and includes one of the industry’s most extensive exploration data libraries.

Asset Performance Solutions: Offers an integrated business model for field production projects. Combines the company’s services and products with drilling rig management and specialized engineering and project management expertise, to provide a complete solution from well construction to production improvement. As of December 31, 2023, the company’s APS portfolio primarily consisted of three field production projects in Ecuador and one in Canada.

Reservoir Performance

Consists of reservoir-centric technologies and services that are critical to optimizing reservoir productivity and performance. Reservoir Performance develops and deploys innovative technologies and services to evaluate, intervene, and stimulate reservoirs providing customers with greater insights into their assets and maximizing their return on investment.

The primary offerings comprising this Division are:

Wireline: Provides the information necessary to evaluate subsurface geology and fluids to plan and monitor well construction and to monitor and evaluate well production through both openhole and cased hole services, including wireline logging and perforating.

Testing: Provides exploration and production pressure and flow-rate measurement services both at the surface and downhole supported by a network of laboratories that facilitate rock and fluid characterization.

Stimulation and Intervention: Provides services used during well completions, as well as those used to maintain optimal production throughout the life of a well, including pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention and coiled-tubing drilling, reservoir monitoring, and downhole data acquisition.

Well Construction

Combines the full portfolio of products and services to optimize well placement and performance, maximize drilling efficiency, and improve wellbore assurance. Well Construction provides operators and drilling rig manufacturers with services and products related to designing and constructing a well.

The primary offerings comprising this Division are:

Drilling & Measurements: Provides mud logging services for geological and drilling surveillance, directional drilling, measurement-while-drilling, and logging-while-drilling services for all well profiles, as well as engineering support.

Drilling Fluids: Supplies individually engineered drilling fluid systems that improve drilling performance and maintain well control and wellbore stability throughout drilling operations.

Drill Bits: Designs, manufactures, and markets roller cone and fixed cutter drill bits for all drilling environments.

Drilling Tools: Includes a wide variety of bottomhole assembly and borehole enlargement technologies for drilling operations.

Well Cementing: Provides products and services that secure and protect well casings while isolating fluid zones and maximizing wellbore activity.

Integrated Well Construction: Provides integrated solutions to construct or change the architecture (re-entry) of wells, including well planning, well drilling, engineering, supervision, logistics, procurement and contracting of third parties, and drilling rig management.

Rigs and Equipment: Provides drilling equipment, including pressure control equipment and rotary drilling equipment, and services for shipyards, drilling contractors, operators, and rental tool companies, as well as land drilling rigs and related services.

Production Systems

Develops technologies and provides expertise that enhance production and recovery from subsurface reservoirs to the surface, into pipelines, and to refineries. Production Systems provides a comprehensive portfolio of equipment and services, including subsurface production systems, subsea and surface equipment and services, and midstream production systems.

The primary offerings comprising this Division are:

Artificial Lift: Provides production equipment and optimization services using electrical submersible pumps, gas lift equipment, progressing cavity pumps, and surface horizontal pumping systems.

Completions Equipment: Supplies well completion services and equipment that include packers, safety valves, and sand control technology, as well as a range of intelligent well completions technology and equipment.

Surface: Designs and manufactures onshore and offshore platform wellhead systems and processing solutions, including valves, chokes, actuators, and surface trees, and provides services to operators.

Valves: Serves portions of the upstream, midstream, and downstream markets and provides valve products that are primarily used to control and direct the flow of hydrocarbons as they are moved from wellheads through flow lines, gathering lines, and transmission systems to refineries, petrochemical plants, and industrial centers for processing.

Processing: Enables efficient monetization of subsurface assets using standard and custom-designed onshore, offshore, and downstream processing and treatment systems, as well as unique, reservoir-driven, fit-for-purpose integrated production systems for accelerating first production and maximizing project economics.

OneSubsea: Provides integrated solutions, products, systems, and services for the subsea market, including integrated subsea production systems involving wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors and services designed to maximize reservoir recovery and extend the life of each field.

On October 2, 2023, the company, Aker Solutions (Aker), and Subsea7 closed their previously announced joint venture. The new business, OneSubsea, will drive innovation and efficiency in subsea production by helping customers unlock reserves and reduce cycle time. OneSubsea comprises the company’s and Aker’s subsea businesses, which include an extensive complementary subsea production and processing technology portfolio, world-class manufacturing scale and capacity, access to industry-leading reservoir and digital domain expertise, unique pore-to-process integration capabilities, and strengthened research and development capabilities. The company owns 70% of the joint venture, while Aker owns 20% and Subsea7 owns 10%.

The company’s four Divisions operate through a geographical structure of four Basins that are aligned with critical concentrations of activity: Americas Land, Offshore Atlantic, the Middle East & North Africa, and Asia.

Corporate Strategy

The evolving marketplace will require bold new technologies and ideas, digital transformation and a deep commitment to sustainability. With a balanced energy transition in mind, the company’s strategy is focused on three engines of growth: Core, Digital and New Energy.

Core

Consisting of the company’s Reservoir Performance, WeIl Construction and Production Systems Divisions, Core remains the company’s largest engine of growth. Building on decades of technology advancement, the company will continue innovating new products, services and technologies that make the exploration, development and production of oil and gas assets cleaner, more resilient, and more efficient, with lower carbon emissions and less impact on the environment.

The company continues to build on its fit-for-basin approach and technology access initiatives, developing bespoke and custom technology tailored to the regions and environments in which it operates. This strategy allows the company to address the rapid evolution of its industry into more regional markets, each with distinct resource plays and economics.

With the continued growth of digitally enabled technologies that improve efficiency and performance, including the company’s Transition Technologies portfolio and its SLB End-to-end Emissions Solutions (SEES) methane elimination business, the company provides solutions that enable customers to increase production from their reserves.

Digital

Digital capabilities continue to grow throughout the energy industry as a key element of the complex systems required to meet energy demand and to harness the promise of a lower-carbon future. The company is uniquely positioned to support customers on their digital journeys by managing data migration, workflow redesign, and transition to the cloud.

The company’s customers have access to leading digital products and services that help to meet their sustainability goals by driving transparency, better measurement, more effective planning, and more impactful and reliable outcomes. To continue elevating customer offerings, the company is accelerating the adoption of its proprietary cloud offering Delfi, enabling enterprise data management, delivering autonomous operations, and innovating through domain-driven artificial intelligence.

The company’s cloud-based solutions allow its customers to transition from its established software applications to its Delfi digital platform, and shift from a user-based license model to software-as-a-service (SaaS) subscriptions. This enables customers to evolve from legacy infrastructure and deliver new levels of value creation, with access to key resources, such as storage and computing from its cloud partners and access to its industry-leading simulators. The company’s evolving offering of on-premises solutions allows it to support the digital transition journey of customers that prefer or are required to maintain data solutions locally.

New Energy

New Energy offers a significant opportunity to use the company’s experience and scale to drive innovation for a low-carbon economy spanning industries beyond oil and gas. The company is building a broad, diverse portfolio across New Energy sectors, selected for their materiality and adjacency to existing its strengths and its ability to offer differentiated technology.

The company’s New Energy portfolio builds on several fundamental strengths: its unique subsurface domain expertise, applicable beyond oil and gas; its ability to design and deploy complex processing and production systems as an original equipment manufacturer; its differentiated track record for innovation and industrialization; and its ability to deploy at scale in any region of the world with local knowledge and talent.

The company will continue building businesses and forging partnerships across various industries to focus on five key areas: carbon solutions, hydrogen, geothermal and geoenergy, stationary energy storage, and critical minerals.

Carbon Solutions: Carbon capture, and sequestration (CCS) is critical to advancing decarbonization and achieving the goals of the Paris Agreement on climate change. With industry-leading reservoir modeling capabilities, the company has been in the CCS business for more than three decades. The company is actively progressing CCS technologies to enable widespread adoption of CCS and is going beyond subsurface characterization and well construction to include capture technology, project economics, technology selection, and permitting. In addition, the company is developing digital platforms to support emissions management for carbon and methane that will allow clients to measure, monitor, and plan abatement strategies.

Hydrogen: The company is investing in low-carbon hydrogen generation technologies. One such investment is Genvia, a unique private-public partnership that combines the company’s expertise and experience with that of the French Atomic Energy and Alternative Energies Commission and partners.

Geothermal and Geoenergy: Geothermal power leverages the heat of the earth to generate electricity or provide heat directly, by tapping into subsurface hot water and steam zones that are continuously recharged, both naturally and by injection. Geoenergy uses the ambient temperatures beneath the earth's surface to act as a thermal battery and dramatically reduce energy consumption from heating and cooling buildings, electrify and, therefore, drive both efficiency and decarbonization.

Stationary Energy Storage: Stationary energy storage is a key enabler to make variable renewable energy sources (such as solar or wind) a larger component of the world’s electricity systems enabling power to be delivered in the right place, at the right time, to meet demand. As renewables become a greater percentage of the energy mix, the need increases for additional long-duration energy storage to ensure the efficiency of renewable assets and the reliability of electricity systems.

Critical Minerals: The company is applying its knowledge of extraction technologies and processing to the location and sources of critical minerals, such as lithium from brine deposits, that will be required to support the energy transition.

Customers

The company’s primary customers are national oil companies, large integrated oil companies, and independent operators.

History

Schlumberger Limited was founded in 1926. The company was incorporated in 1956.