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, Schlumberger today provides the industry’s
widest range of products and services from exploration through production. As of December 31, 2011, the Company
employed approximately 113,000 people of over 140 nationalities operating in approximately 85 countries.
Schlumberger has principal executive offices in Paris, Houston and The Hague. As a result of its acquisitions of Smith
International, Inc. (“Smith”) and Geoservices in 2010, the range of Schlumberger’s activities comprising exploration
and production services became so broad that Schlumberger changed the primary way in which it allocates resources
and assesses performance. Consequently, effective with the first quarter of 2011, Schlumberger changed its primary
reporting to the product group segments (the “Groups”) comprising Schlumberger Oilfield Services. Additionally,
Schlumberger also reports the Distribution business, acquired in the Smith transaction, as a separate segment.
Schlumberger Oilfield Services
operates in each of the major oilfield service markets, managing its business through
three Groups: Reservoir Characterization, Drilling and Reservoir Production. Each Group consists of a number of
technology-based service and product lines, or Technologies. These Technologies cover the entire life cycle of the
reservoir and correspond to a number of markets in which Schlumberger holds leading positions. The business is also
managed through four geographic Areas: North America, Latin America, Europe/CIS/Africa and Middle East & Asia.
Within these Areas, a network of GeoMarket* regions provides logistical, technical and commercial coordination.
The role of the Groups and Technologies is to ensure that Schlumberger provides the best possible service delivery
to customers and that it remains at the forefront of technology development. The Groups and Technologies are
collectively responsible for driving excellence in execution throughout their businesses, overseeing operational
processes, resource allocation, personnel and delivering superior financial results. 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. The Areas and GeoMarkets are responsible for providing
the most efficient and cost effective support possible to the operations.
The Groups are as follows:
Reservoir Characterization Group
– Consists of the principal Technologies involved in finding and defining
hydrocarbon deposits. These include WesternGeco, Wireline, Testing Services, Schlumberger Information Solutions and
Data & Consulting Services.
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WesternGeco
is the world’s leading geophysical services company, providing comprehensive worldwide
reservoir imaging, monitoring and development services. WesternGeco offers the industry’s most extensive
multiclient data library.
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Wireline
provides the information necessary to evaluate 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 including wireline perforating.
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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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Schlumberger Information Solutions
provides software, consulting, information management and IT
infrastructure services that support core oil and gas industry operational processes.
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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. Data and Consulting
Services also provides industry petrotechnical training solutions.
Drilling Group
– Consists of the principal Technologies involved in the drilling and positioning of oil and gas wells and
comprises Bits & Advanced Technologies, M-I SWACO, Geoservices, Drilling & Measurements, PathFinder, Drilling
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