As the custodians of hydrocarbon resources, oil and gas companies direct the technical workflow. In turn, the service industry develops and deploys most of the technology required across increasingly complex oilfield developments. Given the challenge to improve performance, we at Schlumberger believe that we must change the way we work. Earlier this year, we laid out our plans to make a step change in our performance in four distinct ways—accelerating technology innovation, improving technical reliability, increasing operational efficiency, and pursuing greater integration. These are the drivers of our market leadership and differentiation, with innovative technology and greater integration accelerating revenue growth, and reliability and efficiency lowering the cost of service delivery. The result is financial outperformance—for Schlumberger and its customers.
The oilfield service industry’s research and engineering investment has developed evolutionary products that do things better and more cost effectively. But considering the rate of technology change in other industries, upstream technology can become more innovative and be developed more efficiently and much faster.read more
Operational failures cost the E&P industry billions of dollars in nonproductive time, project delays, and cost overruns. This performance substantially lags that of other high-technology industries, and a tremendous effort is required to match the performance of the leading aerospace and automotive companies.read more
Increasingly diverse oil and gas resources present both technical challenges and constraints for customers but significant opportunities for Schlumberger. Technology and process must be customized just as much for deepwater developments as for unconventional reservoirs, particularly at times of volatility in commodity prices.read more