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Governance and Ethics

Schlumberger’s strong reputation for integrity has been built over many decades of ethical business practices, including relationships among our coworkers and with customers, industry stakeholders, business associates, and the communities in which we live and work.

To succeed, we must draw on the foundations that preserve our identity and establish the direction we must follow. This means understanding what defines us as a company, recognizing how we behave toward others, and defining how we approach our work. The Blue Print documents —Our Identity and Our Code of Conduct—are designed to help employees accomplish this. These documents summarize a number of elements that include Our Purpose, Ambitions, and Values, and they express the mindset we need to succeed.

Corporate Governance

Principled corporate governance is the bedrock of our global stewardship, including environmental, economic, and social responsibility in the communities where we live and work. Our board members are, without exception, fully committed to doing what is right, not only for Schlumberger, but also for the hundreds of communities where we operate.

We adhere to sound principles of corporate governance and have adopted practices that the Board of Directors believes are consistent with Schlumberger values and that promote the effective functioning of the board, its committees, and our Company.

Read about our Guiding Principles and Corporate Governance (Board of Directors).

View the Schlumberger Executive Management team.

Ethics

Schlumberger’s strong reputation for integrity has been built over many decades of ethical business practices, including relationships among our coworkers and with customers, industry stakeholders, business associates, and the communities in which we live and work.

The Blue Print in Action—Our Code of Conduct is a guide to support our employees in making sometimes difficult decisions on the job—wherever they work in the world. The document details legal obligations and regulatory requirements with which all Schlumberger employees must comply and for which we are all accountable, including anticorruption measures, intellectual property protection, and social responsibility.

Anticorruption

Business Ethics

Acting ethically involves more than simply ensuring compliance with laws and regulations. It involves recognition that our decisions affect others. By keeping this in mind, we earn the respect, trust and confidence of our customers, colleagues, shareholders, and others affected by our operations. By doing things right the first time, every time, we enhance our reputation for integrity with these stakeholders (Our Code of Conduct, p. 11).

Supply Chain Management

Schlumberger works with suppliers in a socially responsible and ethical manner. We have zero tolerance for corruption of any kind, and we expect the same from our contractors and suppliers. To meet our industry requirements, suppliers must adhere to responsible social, environmental, and economic practices. Our suppliers are selected and retained in alignment with our health, safety, and environmental stewardship standards and Code of Conduct (Our Code of Conduct, p. 12).

Employee Whistle Blower Protection

Employees who believe that a violation of Our Code of Conduct has occurred must report concerns to management using any available channel of communication. Schlumberger will not tolerate retaliation against anyone who raises a concern in good faith. Employees are required to report known and suspected violations of the Code of Conduct and applicable national laws. However, employees who intentionally report false information are subject to disciplinary action (Our Code of Conduct, pp. 1 and 12).

Conflicts of Interest

Conflicts between personal interests and the interests of Schlumberger or its customers may arise when personal, social, financial, political, or other interests interfere. To avoid such conflicts of interest, employees must not hold financial stakes in companies that do business with Schlumberger. They must put Schlumberger business interests first, disclose all conflicts of interest, and avoid situations that create the appearance of a conflict of interest. If such a conflict exists, the affected employee must obtain written approval from an appropriate Schlumberger controller before continuing to work (Our Code of Conduct, p. 16).

Stock Transactions

Our Insider Trading Standard prohibits employees from releasing confidential information about such things as unannounced marketing plans, new product releases, financial results, changes in dividends and earnings, planned mergers and acquisitions, and business strategies. Employees are required to keep such information confidential, including all nonpublic and insider information that relates to Schlumberger or its financial position. Also, employees may not buy or sell Schlumberger Limited stock or publicly traded options until the information becomes public, nor can they act to acquire or sell stocks and options of companies with which Schlumberger does business until the information is public knowledge (Our Code of Conduct, p. 17).

Gifts and Entertainment

Accepting or giving business gifts or hospitality must never influence business decisions. Items or benefits for which the recipient does not pay fair market value, including meals, entertainment, or tickets to sporting events worth more than a nominal value cannot be offered to or accepted from any individual or organization that wishes to do business with Schlumberger (Our Code of Conduct, p. 19).

Antibribery

No employee may offer or accept bribes in any form or under any circumstance, including bribes related to charitable contributions. We avoid facilitation payments, making them only in very limited circumstances, such as when an individual's health or safety is at risk and only when we have obtained proper approval and documentation according to Schlumberger requirements. In addition, payments to government officials are forbidden. Schlumberger is politically neutral and does not make political contributions (Our Code of Conduct, p. 23).

Fair and Ethical Competition

Schlumberger does not win business or maintain customer relationships by acting illegally or unethically. We do not enter into agreements that can restrict full and fair competition. We do not share pricing or bidding information with competitors, or with anyone outside of the Company. We do not use Company funds or assets for political purposes. We may engage in dialogue with public policy decision makers, but we do not use lobbyists or seek to bring about particular outcomes or decisions. We compete aggressively, but fairly (Our Code of Conduct, p. 26).

Trade Compliance

Schlumberger provides products and services in many countries worldwide. Virtually all of the countries in which we operate have customs laws, and many have additional trade controls that govern the import, temporary import, export or re-export of Schlumberger products, services, technology, and software. Wherever we do business, we comply with all trade control laws and regulations that apply to us, and we are especially mindful of technology transfers (Our Code of Conduct, p. 30).

Business and Financial Transparency

Schlumberger keeps honest and accurate business records. Employees must not hide, alter, falsify or disguise the true nature of any business transaction. Schlumberger complies with accounting and financial reporting standards, and requires employees to follow internal financial approval guidelines. We retain and destroy business records in accordance with local laws and with Schlumberger requirements (Our Code of Conduct, p. 36).

Conflict Minerals

Schlumberger recognizes that human rights abuses can exist in the extraction, transportation, and trade of minerals in some countries. We commit to not knowingly contribute to the conflict through our sourcing activity. Schlumberger does not tolerate corruption of any kind, and we expect our suppliers to adhere to the same standard. We have also developed a supplementary Conflict Minerals Policy.

Information Protection

Information Security

Schlumberger is committed to protecting and respecting the privacy of any employee or third-party personal information that it processes. Specific internal data privacy requirements guide the collection, use, transfer (including transfer across international boundaries), release, disclosure and security of such data. These requirements also describe our expectations for third parties who process such data on our behalf (Our Code of Conduct, p. 31).

Consumer Data Protection

Information is the foundation of our business. Confidential or commercially sensitive information comes in many forms, including via conversations, on paper, and electronically. We treat all electronic records created or transmitted using Company tools as Company property, and we take every available measure to preserve the confidentiality of Schlumberger and customer data (Our Code of Conduct, p. 34).

Intellectual Property Rights Protection

Intellectual property that is created when an employee makes a new discovery or conceives of an idea, device, technique or process related to our business becomes the exclusive property of Schlumberger. All employees agree to this concept as a condition of employment. The Company protects its intellectual property and confidential information by using non-disclosure agreements and confidential disclosure agreements before giving third parties access to such information. We also comply with restrictions on the installation and use of third-party software (Our Code of Conduct, p. 36).

Social Responsibility

Equal Opportunity – No Discrimination

One of our greatest strengths is the diversity of our workforce. Employees of many nationalities and backgrounds work together to achieve common objectives. As a global company, we encourage fair employment practices and offer equal opportunities to all our employees (Our Code of Conduct, p. 27).

Fair Wages

Compensation paid to workers must comply with all applicable wage laws, including those relating to minimum wages, overtime hours, and benefits. The basis on which workers are being paid is clearly conveyed to them in a timely manner. We offer competitive compensation and benefits packages, and we require our suppliers to comply with all applicable wage laws wherever we work (Our Code of Conduct, p. 27, and internal personnel policy).

Human Rights

Schlumberger employees represent more than 140 nationalities, and they live and work in approximately 85 countries around the globe. Our employees are expected to treat one another professionally and with mutual respect. As well, suppliers must not engage in discrimination based on race, color, gender, age, sexual orientation, ethnicity, disability, religion, union membership, or marital status (Our Code of Conduct, p. 27, and Supply Chain Services).

Immigration and Employment Laws

Because our business involves frequent international movement of employees, we ensure that the travel, transfer, employment, and residence of all personnel complies with applicable immigration and employment laws. This requirement extends to dependents of our employees and contractor personnel. Schlumberger has visa and immigration compliance programs to assist in this effort, but we expect all employees to take responsibility for their own immigration status (Our Code of Conduct, p. 30).

Child Labor

Hiring children is strictly prohibited. A child laborer is defend as any working person who is, (1) under the age of 15, (2) under the age for completing compulsory education, or (3) under the minimum age for employment in the country, whichever is youngest (internal personnel policy).

Social Responsibility

We contribute to the social development of our communities by supporting initiatives that improve youth education and living conditions. We foster the economic development of these communities by recruiting, hiring, and training where we work, promoting from within and by complying with national regulations and rules. We actively promote health and education in these communities (Our Code of Conduct, p. 27).

Social and Environmental Management Standard

A standard to manage social and environmental issues, risks, and impacts in large-footprint projects has been applied where Schlumberger develops and comanages customer oilfield assets under long-term commercial agreements. Aligned with IFC Performance Standards on Environmental and Social Sustainability, the Schlumberger Social and Environmental Management Standard provides a framework for managing our local impact and ensuring that we respect the rights of individuals and groups in the communities where we work and live. The standard provides specific guidance in six social and six environmental subject areas.

Environmental Responsibility

Protecting the Environment

Our advanced technologies enable our customers to lower their environmental impact while optimizing the recovery of nonrenewable resources. By combining our technology advantage with increased engagement in the communities where we work, we are lowering emissions, decreasing water usage, and reducing unplanned releases.

Operations Integrity

Acting ethically involves more than simply ensuring compliance with laws and regulations. It involves recognition that our decisions affect others. By keeping this in mind, we earn the respect, trust and confidence of our customers, colleagues, shareholders, and others affected by our operations. By doing things right the first time, every time, we enhance our reputation for integrity with these stakeholders (Our Code of Conduct, p. 11).

Addressing Climate Change

As a global technology leader, we believe that our ability to address climate change issues with innovative new technologies and increased operational performance is integral to the energy industry’s global initiative to reduce carbon footprint. Schlumberger technologies are already directly and indirectly helping our customers reduce or avoid emissions, lower water usage, improve chemistry applications, and increase oil and gas production using fewer resources. Our corporate strategy includes the development of advanced technologies for faster drilling, reduced surface and subsurface footprint, and improved reservoir recovery and production, all of which contribute to lowering resource requirements and creating fewer emissions per hydrocarbon unit produced.

HSE Management System

Through effective management, we set quality and health, safety, and environment (HSE) performance objectives, measure results, train employees, and assess and continuously improve processes, services, and product quality. The Schlumberger HSE Management System defines the principles by which we conduct our operations worldwide with regard to health, safety, and the environment. Management communicates the HSE philosophy to all employees, customers, contractors, and third parties associated with our business, and each Schlumberger organization must provide positive evidence of conformance to the system.

Environmental Management

Our HSE management system has encompassed environmental quality management for more than 15 years. This system has been independently reviewed for conformance to the ISO 14001 Environmental Management System standard, and for conformance to environmental standards of the International Finance Corporation.

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