Part I, Item 1
PART I
Item 1.
Business.
All references in this report to “Registrant,” “Company,” “Schlumberger,” “we” or “our” are to Schlumberger Limited
(Schlumberger N.V., incorporated in Curaçao) and its consolidated subsidiaries.
Founded in 1926, Schlumberger is the world’s leading supplier of technology, integrated project management and
information solutions to the international oil and gas exploration and production industry. Having invented wireline
logging as a technique for obtaining downhole data in oil and gas wells, the Company today provides the industry’s widest
range of products and services from exploration through production. As of December 31, 2010, the Company employed
approximately 108,000 people of over 140 nationalities operating in approximately 80 countries. Schlumberger has
principal executive offices in Paris, Houston and The Hague.
On August 27, 2010, Schlumberger acquired all of the outstanding shares of Smith International, Inc. (“Smith”), a
leading supplier of premium products and services to the oil and gas exploration and production industry. In connection
with this transaction, Schlumberger issued 176 million shares of its common stock, valued at approximately $9.8 billion
as of the acquisition date. As a result of this transaction, Schlumberger consists of five business segments as of
December 31, 2010 – Schlumberger Oilfield Services, WesternGeco, M-I SWACO, Smith Oilfield and Distribution.
Schlumberger Oilfield Services
operates in each of the major oilfield service markets, managing its business through its
GeoMarket* regions, which are grouped into four geographic areas: North America, Latin America, Europe/CIS/Africa
and Middle East & Asia. The GeoMarket structure offers customers a single point of contact at the local level for field
operations and brings together geographically focused teams to meet local needs and deliver customized solutions.
Within this business structure, Schlumberger Oilfield Services products and services are developed by a number of
technology-based product lines, or Technologies, to capitalize on technical synergies. These products and services cover
the entire life cycle of the reservoir and correspond to a number of markets in which Schlumberger Oilfield Services
holds leading positions. The Technologies are also responsible for overseeing operational processes, resource allocation,
personnel and quality in the GeoMarkets.
The Technologies are:
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Wireline – provides the information necessary to evaluate the subsurface formation rocks and fluids to plan
and monitor well construction, and to monitor and evaluate well production. Wireline offers both open-hole
and cased-hole services as well as a range of well remediation services.
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Drilling & Measurements – supplies engineering support, directional-drilling, measurement-while-drilling and
logging-while-drilling services for all well profiles.
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Testing Services – provides exploration and production pressure and flow-rate measurement services both at
the surface and downhole. The Technology also provides tubing-conveyed perforating services.
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Well Services – provides services used during oil and gas well drilling and completion as well as those used to
maintain optimal production throughout the life of a well. The services include pressure pumping, well
cementing and stimulation operations as well as intervention activities. The Technology also develops coiled-
tubing equipment and services.
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Completions – supplies well completion services and equipment that includes upper and lower completion
systems, sand management systems and permanently installed instrumentation for all types of well
completion.
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Artificial Lift – provides electrical submersible pumps and gas lift equipment together with associated
instrumentation, engineering and production optimization services.
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Data & Consulting Services – supplies interpretation and integration of all exploration and production data
types, as well as expert consulting services for reservoir characterization, production enhancement, field
development planning and multi-disciplinary reservoir and production solutions.
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