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Barclays CEO Energy-Power Conference
Paal Kibsgaard
Thank you and good afternoon ladies and gentlemen. I would like to start by thanking
Barclays Capital and James West in particular for the invitation to speak at this conference.
The topic of my talk today is the size of Schlumberger and what it means for our competitive
position in the market place, as well as for our future earnings growth potential. As with any
large company, questions may arise as to whether our size makes us less competitive and
whether we are starting to run out of growth opportunities. I will show you that this is in fact
not the case. I will instead demonstrate that the size of our operations form one of the most
under-appreciated strengths of Schlumberger. I will also show you that by fully capitalizing
on our size advantage, we can unlock a further competitive edge and significant performance
upside for the company in the coming years. The pursuit of this prize started in 2011, following
the completion of the Smith and Geoservices transactions.
Today I will outline the main elements of the plan that we are currently executing, which
is focused on leveraging our organization, enhancing inter-company teamwork and driving
performance through integration quality and efficiency. In addition to having a significant
impact on our internal performance, we expect our focus on improved integration, quality,
and efficiency to resonate with our customers as they look to reduce their operating costs.
I will also comment on the customer trends we are seeing in this area.
Schlumberger CEO
Paal Kibsgaard
