Investor Highlights

The industry continues to embrace digital transformation and enablement as operators aim to improve asset efficiency, operational cost, and performance. This quarter, a diverse range of customers adopted Schlumberger digital technologies across several geographies and use cases, from increasing enterprisewide performance to advancing national energy strategy.

Schlumberger Employee Using Touchscreen for Digital Oilfield Technologies

Enabling Enterprisewide Digital Transformation

Schlumberger and OMV have signed a five-year contract—valued at up to USD 160 million—to deploy AI and digital solutions, enabled by the DELFI cognitive E&P environment, across OMV's entire enterprise. The OMV upstream subsurface team has already simulated 200 model realizations more than 70% faster using AI-enhanced workflows in the DELFI environment and planned eight wells in the time it would normally take to plan one using the DrillPlan coherent well construction planning solution. Following this agreement, the two companies will collaborate to enhance efficiencies across OMV's global operations, leveraging precise reservoir knowledge to accelerate both well and field development planning.

The new industry landscape demands increased discipline in capital investment and maximum efficiencies in production and recovery. Schlumberger creates and deploys technology and processes to help customers increase value from their existing assets by enhancing production and boosting recovery.

Schlumberger Employees Walking at a Production Facility

Meeting the Mandate for Increased Production & Recovery

In Libya, Schlumberger won an integrated 100-well project and has reactivated and enhanced production from the first group of 35 wells, helping Arabian Gulf Oil Company (AGOCO) achieve its production increase objectives. Teams spanning our portfolio are collaborating on the project, which includes front-end engineering, candidate selection, and intervention execution on shut-in wells. The group of wells delivered to AGOCO is now generating double the daily oil production and 45% less water compared with their performance prior to being shut in.

Our fit-for-basin approach as part of our performance strategy is helping operators address their challenges and extend their technical limits. Through innovative technology adapted for local geological context, business models tailored to regional dynamics, and enhanced in-country value, Schlumberger is at the forefront of basin innovation to deliver a step change in performance for our customers.

Schlumberger Manufacturing Technician Running Tool Diagnostics

Extending Technical Limits with Fit-for-Basin Technology

In Argentina, YPF S.A. worked closely with Schlumberger to drill the first pad of superlateral wells through the unconventional Vaca Muerta Formation. The addition of NeoSteer at-bit steerable systems to comprehensive reservoir management and characterization led to the successful drilling of extended-reach laterals to lengths beyond 3,887 m, enabling access to a million-barrel oil reserve that would have otherwise been unmonetizable. The NeoSteer CL curve and lateral at-bit steerable system delivered the longer, smoother laterals YPF required.

 

The recovery cycle has begun, and sanctioned projects are commencing on land and offshore, while others are approaching FID. In this improving environment, Schlumberger continues to win multiyear contract awards, particularly internationally.

Enhancing Production in Mature Fields Using Electric Submersible Pumps

Enhancing Production in Mature Fields

Kuwait Oil Company (KOC) awarded Schlumberger a large seven-year, performance-based contract, covering the installation of up to 1,650 electrical submersible pumps (ESPs) over the period. This award comes as KOC seeks to improve long-term production from its maturing fields, for which ESP technology is ideally suited.

Decarbonization is not only a necessity, but a tremendous opportunity for Schlumberger. We are committed to being at the forefront of more sustainable energy production, leveraging our intellectual and business capital to increase sustainability through our core offering and beyond. Our digital platform is enabling applications in the energy transition while Schlumberger New Energy is building a portfolio of ventures focused on low-carbon and carbon-neutral energy technologies, which continue to gain momentum.

Magnified View of a Hydrogen Molecule

Positioning Schlumberger at the Forefront of Sustainability and New Energy

In the hydrogen domain, Schlumberger New Energy, the French Alternative Energies and Atomic Energy Commission (CEA) and partners obtained approval from the European Commission to form Genvia™, a clean hydrogen production technology venture. In a unique private-public partnership model, Genvia combines the expertise and experience of Schlumberger with CEA, and partners. The new venture will accelerate the development and the first industrial deployment of the CEA high-temperature reversible solid-oxide electrolyzer technology. The aim of the venture is to deliver the most efficient and cost-effective technology for producing clean hydrogen, a versatile energy carrier and key component of the energy transition.

Landscape Photography of The Netherlands

Expanding New Use Cases of the Industry Digital Platform

In the Netherlands, Energie Beheer Nederland (EBN B.V.), a company established by the Dutch Ministry of Economic Affairs and Climate Policy, has selected the DELFI cognitive E&P environment to support the implementation of the nation's energy transition strategy. The Netherlands intends to lead Continental Europe in carbon capture and storage while it continues to develop renewable and sustainable energy sources such as geothermal energy. The cloud-based DELFI environment and SaaS model will provide flexibility while being robust enough to manage the scale and complexity of the subsurface solutions required to achieve these objectives across a portfolio of energy sources.

 

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