2022 Annual Report

Our purpose is to create amazing technology that unlocks access to energy, for the benefit of all.

As innovators, that's been our mission for nearly 100 years. Today, it's a global imperative. We are facing the world's greatest balancing act—simultaneously reducing emissions while meeting the world's growing energy demands. We're working on the answers.

Every day, a step closer. Our collective future depends on decarbonizing the fossil fuel industry, while innovating a new energy landscape. It's what drives us. Ensuring progress for people and the planet, on the journey to net zero and beyond.

For a balanced planet.

World map with SLB locations designated


Our more than 70 global technology centers driving innovation each day


We have a global footprint in more than 100 countries and employees representing almost twice as many nationalities

Our three engines of growth:


Absent a major market disruption, we maintain the view that upstream spending is very resilient and decoupled from near-term demand. We foresee capital investment continuing to grow at double-digit compound annual growth rate (CAGR) in the upstream sector for years ahead across Middle East, North America Land, and Offshore basins.

This represents a very favorable backdrop to SLB market positions and will continue to support our ambition for outperformance in this upcycle.

Upstream oil and gas investment 2021-2025

chart showing SLB's oil and gas investement in 2021 - $347B, 2025 - >$550B

Source: SLB analysis, Rystad, S&P, IEA.


The quest for capital efficiency, asset teams’ productivity, and cycle-time reduction requires digital transformation in our industry. We continue to expand our digital market position and deliver a high rate of revenue growth and highly accretive margin results.


Software customers


Top 100 oil and gas producers use our software


Expected digital revenue growth from 2021-2025

New Energy

The size of the energy transition opportunity is immense for SLB. The rate of market growth is very significant. We are building a broad, diverse portfolio across New Energy sectors, selected for their materiality and adjacency to our existing market strengths, and where we can offer technology differentiation.


Expected increase in energy demand by 2050

-25 GtCO2*

Required annual reduction in industrial and power-related emissions to achieve net zero


Estimated total addressable market

*Source: IEA 2022.

woman working with a microscope in a lab

We value:


Because our exceptional and diverse people are the pulse and spirit of who we are.

  • → We are safe
  • → We are inclusive
  • → We respect work and personal life




We recruited in more than 85 countries in 2022


Because our passion for exploring enables us to solve the world's energy challenges.

  • → We are pioneers
  • → We innovate together
  • → We experiment, learn and grow


New technologies introduced across the portfolio over the past three years


Year-on-year revenue growth for our Transition Technologies portfolio in 2022


Because together, we deliver outstanding results to build a sustainable future.

  • → We act with integrity
  • → We deliver today and tomorrow
  • → We focus on what matters most


Revenue growth vs 2021


Increase in GAAP EPS year-on-year; 70% growth in EPS excluding charges and credits†