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Governance and Ethics

We are committed to adhering to sound principles of corporate governance and have adopted best practices that promote the effective functioning of our Board of Directors and our Company. We strive to maintain the trust and confidence of our customers and stockholders as well as everyone affected by our operations. When we are seen to behave in an ethical manner, we enhance our reputation for integrity, which in turn helps us attract and retain both customers and employees.

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 means not only complying with laws and regulations but also recognizing that our decisions affect others. Through compliance and ethical behavior, we maintain the respect, trust, and confidence of our customers, colleagues, shareholders, and others affected by our operations (Code of Conduct, p. 7).

Schlumberger also requires suppliers and other third parties doing business or entering into contracts with Schlumberger to abide strictly by our ethical standards.

Supply Chain Management

Schlumberger has zero tolerance for corruption of any kind, and we expect the same from our contractors and suppliers. We work with our suppliers in a socially responsible and ethical manner and continuously seek to improve the way we conduct business. All suppliers, contractors, and agents are approved and managed according to our Code of Conduct and other company requirements (Code of Conduct, p. 7).

To meet our requirements for working conditions, our suppliers must adhere to responsible social, environmental, and economic practices. These requirements relate to freely chosen employment, child labor, discrimination, harsh and inhumane treatment, minimum wages, working hours, and freedom of association.

Employee Whistle Blower Protection

Schlumberger prohibits retaliation for good faith reporting of both potential and actual violations of the Code of Conduct, other company requirements, and applicable laws. Employees who intentionally report false information are subject to disciplinary action (Code of Conduct, p. 7).

Employees who know of or suspect a violation of the Code of Conduct or applicable laws are required to report it internally (Code of Conduct, p. 7).

Conflicts of Interest

Employees 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 (Code of Conduct, p. 9).

Stock Transactions

We keep confidential all nonpublic and insider information that relates to Schlumberger or our financial position. This includes knowledge of unannounced marketing plans, new product releases, financial results, changes in dividends and earnings, planned mergers and acquisitions, and business strategies. If we have such information, we must keep it confidential and we may not buy or sell Schlumberger Limited stock or publicly traded options of Schlumberger stock until the information becomes public. Stock and options of other companies with which Schlumberger does business also cannot be acted upon until the information is public knowledge (Code of Conduct, p. 10).

Gifts and Entertainment

Gifts and hospitality of more than nominal value (defined as $200 or any lower limit specified locally) cannot be offered to or accepted from any individual or organization that does or seeks to do business with Schlumberger (Code of Conduct, p. 11).

Antibribery

Schlumberger has zero tolerance for corruption. Bribes are never offered or accepted in any form or under any circumstance. We do not use company funds or assets for political purposes. We may engage in direct dialogue with public policy decision makers, but we do not use lobbyists or seek to bring about particular outcomes or decisions. We avoid facilitation payments, making them only in very limited circumstances, such as when health or safety is at risk, and only when we have obtained proper approval and documentation according to Schlumberger requirements (Code of Conduct, p. 13).

Fair and Ethical Competition

Schlumberger competes aggressively but fairly. We do not enter into agreements that can restrict full and fair competition. We do not share pricing and bidding information with competitors or anyone outside of Schlumberger (Code of Conduct, p. 14).

Trade Compliance

We comply fully with all applicable trade control laws and regulations. We are especially mindful of technology transfers. We review all shipments for compliance before they are shipped or released. We expect all employees to consult a trade control compliance manager about any questionable import or export (Code of Conduct, p. 16).

Business and Financial Transparency

We maintain honest and accurate business records. We never hide, alter, falsify, or disguise the true nature of any business transaction. We comply with accounting and financial reporting standards and require employees to follow internal financial approval guidelines. We retain and destroy business records in accordance with local laws and Schlumberger requirements (Code of Conduct, p. 20).

Conflict Minerals

Schlumberger recognizes that there are serious human rights abuses associated with the extraction, transportation, and trade in minerals in the covered countries. We have always supported responsible sourcing of materials from suppliers that share our values, and we commit to avoiding contributing to the conflict through our sourcing activity. We have developed a Conflict Minerals Policy to supplement our Code of Conduct.

Information Protection

Information Security

We collect personal information only for lawful business purposes. Schlumberger protects and respects the privacy of any employee or third party whose personal information we process. 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 pertain to third parties who process such data on our behalf. The transfer of employee data to third parties operating in countries that do not offer adequate levels of personal data protection (e.g., outside the European Economic Area) is regulated more strictly (Code of Conduct, p. 17).

Consumer Data Protection

We protect important information, whether it belongs to Schlumberger or to others who have entrusted it to us. Confidential or commercially sensitive information comes in many forms, including in conversations, on paper, and electronically (Code of Conduct, p. 18).

Schlumberger has instituted multiple safeguards for software, hardware, and file-transfer protection and procedures for employees and vendors.

Intellectual Property Rights Protection

We protect our own technology and intellectual property assets. We require employees to acknowledge that intellectual property created while working for the Company belongs exclusively to the Company. We comply with restrictions on the installation and use of third-party software. Employees cannot make or use copies of software, publications, copyrighted materials, or trademarks without proper authorization (Code of Conduct p. 19).

Social Responsibility

Equal Opportunity

As a global company, we encourage fair employment practices and offer equal opportunities to all our employees (Code of Conduct, p. 15).

Fair Wages

We encourage fair employment practices among our customers and suppliers worldwide and offer equal opportunities to all our employees (Code of Conduct, p. 15).

In addition, we require our suppliers to comply with all applicable wage laws, including those relating to minimum wages, overtime hours, and legally mandated benefits.

Human Rights

Schlumberger endorses the aspirations of the United Nations International Bill of Human Rights. We encourage work that augments the contributions that businesses can make to preserve and respect human dignity (Code of Conduct p. 15).

Harsh and inhumane treatment, including sexual harassment, sexual abuse, corporal punishment, mental or physical coercion, and verbal abuse, is strictly prohibited, as is any threat of such treatment.

We also require our suppliers to provide workplaces that are free of harassment and unlawful discrimination. Suppliers must not engage in discrimination based on race, color, gender, age, sexual orientation, ethnicity, disability, religion, union membership, or marital status (Supply Chain Services).

Immigration and Employment Laws

We comply with all immigration and employment laws. We expect all employees to take responsibility for their immigration status. We expect all employee dependents and contractor personnel to abide by immigration laws. We maintain immigration-compliance programs to ensure that correct procedures are followed (Code of Conduct p. 16).

Child Labor

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

Employee Corporate Social Responsibility

Schlumberger’s entrepreneurial roots and solid values encourage our employees to make Schlumberger their company—to create something larger than themselves. This empowerment instills in them a deep sense of corporate responsibility to help improve the living conditions of the thousands of communities where we live and work. Our focus on education, in particular science, technology, engineering, and mathematics (STEM), has brought development opportunities to students in villages and larger communities worldwide (Our Identity, p. 2).

Environmental Responsibility

Protecting the Environment

Schlumberger is committed to minimizing our impact on the environment. We do this by preventing pollution, reducing emissions, consuming fewer natural resources, and minimizing waste. Prevention is only the first step. After any incident, Schlumberger provides training programs and assesses any needed changes to programs and equipment (Code of Conduct, p. 8).

Operations Integrity

Our reputation for trust and integrity depends on continuous improvement in the quality of our products and the delivery of services to our customers. Operations integrity means that every employee commits to doing the job right the first time, every time. We demonstrate our commitment to quality by meeting or exceeding customer expectations and by avoiding nonconformities in our daily activities. To help make continuous quality improvements, we participate in all required audits and periodic assessments. We also can help improve quality by addressing customer feedback in a timely and appropriate manner (Code of Conduct p. 8).

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 Quality Management

Within Schlumberger, environmental management has been integrated into our HSE management system for 15 years. Our system has been independently reviewed for conformance to the ISO 14001 Environmental Management System standard and currently is being reviewed for conformance to the International Finance Corporation environmental standards.

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