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Schlumberger Limited is the world's largest multinational oilfield services corporation, incorporated in the Netherlands Antilles.
The company employs more than 64,000 people of over 140 nationalities working in more than 80 countries. Schlumberger supplies a wide range of products and services from seismic acquisition and processing; formation evaluation; well testing and directional drilling to well cementing and stimulation; artificial lift and well completions; and consulting, software and information management.
Schlumberger's services are organized by Areas (North America, Middle East & Asia, Russia, etc.). These areas are made up of several Geomarkets. An example of a Latin American geomarket is PCE (Peru, Colombia, Ecuador).
Principal offices are located in Houston, Texas, Paris, France and The Hague, Netherlands.
Management
- Andrew Gould — Chairman & CEO
- Jean-Marc Perraud — Chief Financial Officer
- WesternGeco
- Dalton Boutte — President
- Oilfield Services
- Chakib Sbiti — Executive Vice President
- Mark Corrigan — Vice President - Operations
- Oilfield Services (Areas)
- Antonio Campo Mejia — President - Latin America
- Bill Coates — President - North America
- Maurice Dijols — President - Russia
- Satish Pai — President - Europe & Africa
- Zaki Selim — President - Middle East & Asia
- Oilfield Services (Technologies)
- Imran Kizilbash — President - Reservoir Characterization Group
- Sami Iskander — President - Drilling & Measurements
- Mario Ruscev — President - Testing
- Charles Woodburn — President - Wireline
- Doug Pferdehirt — President - Reservoir Production Group
- Belgacem Chariag — President - Well Services
- Patrick Schorn — President - Completions
- Don Sweet — President - Artificial Lift
- Jeff Spath — President - Reservoir Management Group
- Miguel Galuccio — President - IPM
- Chris Hopkins — President - Data & Consulting Services
- Olivier Le Peuch — President - Schlumberger Information Solutions
Business
Operating revenue in 2005 was US$14.31 billion with a market capitalization as of January 20, 2006, of US$71 billion
History
Schlumberger Limited began life as the Société de Prospection Électrique (Electric Prospecting Company) founded in 1926 by Conrad and Marcel, the Schlumberger brothers. Prior to founding their company, the brothers had worked conducting geophysical surveys in countries such as Romania, Canada, Serbia, South Africa, the Democratic Republic of the Congo, and the United States. The newly founded SPE (not to be confused with the Society of Petroleum Engineers) sold electrical-measurement mapping services, and quickly began expanding. The company recorded the first electrical resistivity well log in Pechelbronn, France in 1927, and logged the first well in the US (in Kern County, California) in 1929.
In 1934, the Schlumberger Well Surveying Corporation was founded. This was later to become Schlumberger Well Services (and later Schlumberger Wireline & Testing). 1940 saw the company move its headquarters to the US oil capital, Houston, Texas. The next few decades brought numerous breakthroughs in Schlumberger's logging technology offerings, including the Microlog tool, Lateralog system, and Microlateralog tool, the latter designed to measure resistivity near the borehole. The Ridgefield Research Center was inagurated in 1948.
In 1956, the company known as Schlumberger Limited was officially set up in Curaçao as a holding company for all Schlumberger businesses. The american testing and production company Johnston Testers was acquired this year as well. 1960 marked the formation of the well-known Dowell Schlumberger (50% Schlumberger, 50% Dowell Chemical), which specialized in pumping services for the oil industry. Two years later, Schlumberger Limited became listed on the New York Stock Exchange.
Schlumberger purchased 50% of Forex in 1964 and merged it with 50% of Languedocienne to create the Neptune drilling company. The first computerized reservoir analysis, SARABAND, was introduced in 1970. The remaining 50% of Forex was acquired the following year; Neptune was renamed Forex Neptune Drilling Company. In 1979, Fairchild Camera and Instrument (including Fairchild Semiconductor), became a subsidiary of Schlumberger Limited.
Continuing the trend of supporting high-technology solutions, Schlumberger quickly integrated e-mail into their business model, establishing the first international data links with e-mail in 1981. In 1983, Schlumberger opened their Cambridge Research Center in Cambridge, England.
The SEDCO drilling rig company and half of Dowell of North America were acquired in 1984, resulting in the creation of another well-known Schlumberger trademark, the Anadrill drilling segment, a combination of Dowell and The Anaylsts' drilling segments. Forex Neptune was merged with SEDCO to create the Sedco Forex Drilling Company the following year, when Schlumberger purchased Merlin and 50% of GECO.
Schlumberger's Information Network, or SINet, is the world's second largest internal corporate network and the first commercial ARPANet-based intranet. It was launched in 1985.
In 1987, Schlumberger completed their purchaces of Neptune (North America), Bosco and Cori (Italy), and Allmess (Germany). That same year, National Semiconductor acquired Fairchild Semiconductor from Schlumberger for $122 million, and the domain name www.slb.com was registered by the company. In 1991, Schlumberger acquired PRAKLA-SEISMOS, and pioneered the use of geosteering to plan the drill path in horizontal wells.
Schlumberger acquired the software company GeoQuest Systems, Inc. in 1992. With the purchase came the conversion of SINet to TCP/IP and www capability. The remainder of the decade saw Schlumberger buy out the petroleum division, AEG meter, and ECLIPSE reservoir study team Intera Technolgies Corp. A joint venture between Schlumberger and Cable & Wireless plc saw the creation of Omnes, which today handles all of Schlumberger's internal IT business. Oilphase and Camco International were also purchased.
In 1999, Schlumberger and Smith International created a joint venture, M-I L.L.C., the world's largest drilling fluids (or mud) company. The company consists of 60% Smith International, and 40% Schlumberger. At the turn of the century, the Geco-Prakla division was merged with Western Atlas to create the seismic contracting company WesternGeco, of which Schlumberger held a 70% stake, the remaining 30% belonging to competitor Baker Hughes. Under new business policy, the company got rid of its famous brand names in the oilfield service industry viz, Anadril, Dowell, GeoQuest, Geco-Prakla, Wireline & Testing in order to promote and sell its oil & gas services under the single trading name of Schlumberger Oilfield Services (OFS). Also that year, Sedco Forex was sold off to the Transocean Drilling company.
The following year, Schlumberger acquired the IT consultancy company Sema plc for $5.2 billion. The company was an Athens 2004 Summer Olympics partner, but Schlumberger's venture into IT consultancy did not pay off, and disvestiture of Sema to Atos Origin was completed that year for $1.5 billion. That same year, the Cards division (now known as Axalto) was divested through an IPO.
In 2003 the Automated Test group, part of the 1979 Fairchild Semiconductor acquisition, was spun off to NPTest Holding. In 2005, it was announced that the corporate head office would move from its current location in New York, NY, back to Houston, Texas, during the second half of 2006. In 2006, a 2 for 1 stock split was announced, effective as of March 1, 2006.
Schlumberger's most recent move has been the purchase of Baker Hughes' remaining 30% stake in WesternGeco for $2.4 Billion on April 21st, 2006.
Schlumberger in Nigeria
Schlumberger started operations in Nigeria in 1956,when it performed logging operations on the Oloibiri Oilwell in present-day Bayelsa State in Nigeria. Schlumberger Nigeria is managed by a Nigerian: H. Sola Oyinlola.
The Company has principal operations in three Nigerian cities namely:
- Lagos (Headquarters)
- Port Harcourt
- Warri
See also
External links
- Schlumberger
- Schlumberger Oilfield Glossary Online glossary of oil-related terminology
- Yahoo! - Schlumberger Limited Company Profile
Companies based in Texas | Multinational companies | 1927 establishments | Schlumberger
"Schlumberger"