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Schlumberger

Schlumberger

Schlumberger is a LONDON-based company founded in 1926 by Schlumberger brothers.

Schlumberger is a supplier of technology, project management, and information solutions for oilfields. The company operates in around 80 countries with products and services ranging from seismic acquisition and processing to formation evaluation, well testing and directional drilling, well cementing and stimulation, artificial lift, well completions and consulting, and software and information management.

Houston, TX-based Schlumberger Limited is a leading oilfield services company, providing services to the oil and gas explorers, and producers across the world. Through oilfield services contracts, Schlumberger helps the upstream energy players to locate oil and gas, and to drill and evaluate hydrocarbon wells. The company, founded in 1926, also supports the explorers to construct oil and gas wells and produce optimum volumes of the commodities from the existing wells.

Since the beginning of 2020, the coronavirus pandemic has been affecting the broader energy market. Upstream energy companies have lowered capital spending to sail through the pandemic induced lower oil pricing scenario. This, turn has slashed demand for oilfield services since the oilfield service players assists upstream firms to efficiently drill oil wells. Recently, Schlumberger announced that there has been an increase in optimism for fuel demand recovery in 2021, thanks to the rise in oil price owing to the rolling out of coronavirus vaccines and economic stimulus measures. Schlumberger added that it will take no later than 2023 for crude demand to rebound back to the pre-pandemic levels of 2019. This in turn will boost oilfield services and activities in North America and international markets.

Schlumberger is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry.

Business with Iran and Sudan

In 2015, Schlumberger pled guilty to violating U.S. sanctions related to Iran and Sudan and agreed to pay a $237M penalty

Since the beginning of 2020, the coronavirus pandemic has been affecting the broader energy market. Upstream energy companies have lowered capital spending to sail through the pandemic induced lower oil pricing scenario. This, turn has slashed demand for oilfield services since the oilfield service players assists upstream firms to efficiently drill oil wells. Recently, Schlumberger announced that there has been an increase in optimism for fuel demand recovery in 2021, thanks to the rise in oil price owing to the rolling out of coronavirus vaccines and economic stimulus measures. Schlumberger added that it will take no later than 2023 for crude demand to rebound back to the pre-pandemic levels of 2019. This in turn will boost oilfield services and activities in North America and international markets.

Timeline

Patents

Further Resources

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News

Title
Author
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Kirsten Korosec
September 20, 2021
TechCrunch
The Station is a weekly newsletter dedicated to all things transportation. Sign up here -- just click The Station -- to receive it every weekend in your inbox. Hello readers: Welcome to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. The [...]
Society of Exploration Geophysicists
June 28, 2021
www.prnewswire.com:443
/PRNewswire/ -- Schlumberger has renewed its support for the Society of Exploration Geophysicists' humanitarian outreach program Geoscientists Without Borders®...
NewDay USA
November 10, 2020
www.prnewswire.com:443
/PRNewswire/ -- NewDay USA, one of the nation's leading VA mortgage companies, today announced it has hired Abhishek Prakash as CEO of its subsidiary, NewDay...
Reuters
September 2, 2020
@bsindia
Consolidation will help the oilfield sector recover, Liberty Oilfield Chief Executive Chris Wright told Reuters
September 30, 2019
WebWire
Smith Bits, a Schlumberger company, today introduced Aegis* armor cladding that significantly improves bit body design flexibility and erosion resistance, increasing rate of penetration (ROP) and bit durability for longer runs. Composed of a proprietary tungsten carbide material, Aegis cladding increases bit erosion resistance by 400% and strength by 40% when compared to conventional matrix polycrystalline diamond compact (PDC) bits. "Our new armor cladding technology combines innovative...
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