Investor Highlights

As the strong growth cycle in oil and gas advances, Schlumberger continues to secure new contracts in North America and internationally, particularly in the Middle East and in offshore basins.

Integrated services offer both technology and project management in challenging offshore fields

Integrated Services Contract Awarded for High-Temperature Norwegian Sea Fields

In Norway, Equinor awarded Schlumberger a contract for work at up to 11 wells at their challenging, high-temperature Kristin Sor and Halten East fields. The integrated services contract includes electric wireline logging, drilling, measurements, and project management. Work is expected to start in late 2023 and continue until 2025.

Wireline fiber-optic solutions aid well evaluation for optimal operations.

Comprehensive Wireline Technology Drives Well Evaluation and Production Optimization on Land and Offshore

QatarEnergy has awarded Schlumberger a five-year wireline services contract. The contract covers open- and cased-hole wireline logging on land and offshore, as well as tubing-conveyed perforating and data processing and interpretation. Schlumberger technologies, including the 10,000-psi hydraulic frac packer, 3D far-field sonic service, Optiq Schlumberger fiber-optic solutions, and Pulsar multifunction spectroscopy service, will be deployed to evaluate new and existing wells in various projects and optimize the production and injection of such wells. Work is expected to start in the fourth quarter of 2022.

Advanced drilling services improve efficiency while delivering lowest carbon intensity wells.

Five-Year Framework Agreement Supports Drive to Improve Drilling Efficiency

Abu Dhabi National Oil Company (ADNOC) has awarded Schlumberger a five-year framework agreement for drilling-related services, valued at USD 482 million. With an optional two-year extension, the scope of the award covers drill bits, directional drilling, and logging-while-drilling services. Supporting ADNOC in its drive to improve efficiency while delivering the lowest cost, lowest carbon intensity barrels, Schlumberger will provide advanced directional drilling and logging services to achieve high-quality wellbores with proven trajectory control, for accurate drilling of extended-reach horizontal and complex directional wells.

Schlumberger continuously seeks new applications for its technologies in adjacent industries, applying its domain expertise to solutions that support sustainable energy production.

High-efficiency pumps designed specifically for geothermal wells deliver maximum run life.

Power-Efficient Geothermal Pumps Boost Zero-Carbon Electricity Generation in Turkey

Zorlu Enerji, Turkey's leading geothermal investor, has awarded Schlumberger a contract for 14 additional REDA Thermal power-efficient geothermal electric submersible pumps (ESPs) to increase zero-carbon electricity generation at its Kızıldere geothermal power facility. The first high-volume and high-horsepower REDA Thermal pump was installed at the Kızıldere facility in July, and the initial boost attributable to the pump is over 1.7 megawatts (MW) of zero-carbon electricity. The award includes initiation of digital services for ESP monitoring and surveillance. The REDA Thermal pumps are designed specifically to meet the requirements of high-enthalpy geothermal wells. The technology was developed leveraging expertise from GeothermEx, a Schlumberger multidisciplinary geothermal consulting and services company.

As customers continue to advance their digital transformation and apply digital solutions that improve efficiency and productivity, Schlumberger's digital platform strategy is a key engine of growth.

Cross-domain collaboration in an open environment enhances decision making.

DELFI On-Demand and Agile Capabilities Bring Scalability and Collaboration to Field Development Teams

Repsol has selected Schlumberger to deploy the DELFI cognitive E&P environment hosted on the Microsoft Azure cloud platform to further enhance its subsurface development capabilities. Repsol is implementing a strategy to transform the way its organization works by leveraging cloud capabilities, and the DELFI environment will streamline geological and geophysical (G&G) workflows to optimize their performance. The DELFI Petrotechnical Suite and DELFI On Demand Reservoir Simulation will be deployed across Repsol's organization to boost the work of field development teams. The open cloud-based platform will support collaboration among geoscience teams in worldwide locations using the same data for improved performance when running G&G workflows. The processing requirements for reservoir engineering simulations will be scaled as needed and will enable integrating the DELFI Agile Reservoir Modeling workflow, when required. Additionally, Repsol´s developers can use the platform to deploy native solutions with AI and machine learning capabilities.

Unprecedented data accessibility on an industry-standard platform addresses future needs by streamlining energy transition projects.

New Data Solution Delivers Unprecedented Data Accessibility for Advanced Workflows and CO2 Projects

Schlumberger released the Schlumberger Enterprise Data Solution, which is powered by Microsoft Energy Data Services. Developed to deliver the most comprehensive capabilities for subsurface data—in alignment with the emerging requirements of the OSDU™ Technical Standard, a new open industry standard for energy data—the Enterprise Data Solution makes data accessible on an unprecedented scale for the global energy industry. This fully integrated cloud-native enterprise data solution enables end-to-end data-driven workflows scalable to customers' organizations. Full upstream data capabilities will expand from subsurface to production to well construction and welcome the transition to new and low-carbon energy sources. The Enterprise Data Solution will also accelerate advanced workflows to screen, assess, and design carbon capture, utilization, and storage (CCUS) projects to support rapidly growing demand for large-scale CO2 sequestration. Early adopters of these exciting new technologies include PETRONAS and Chevron.

Schlumberger technologies are making significant performance impact for customers in drilling, production, and integrated operations, making the exploration and development of oil and gas assets more resilient and more efficient, with lower carbon and less impact on the environment.

Transition Technologies eliminate flaring to realize greater returns.

Production Technologies Eliminate Flaring in Kazakhstan

In Western Kazakhstan, Schlumberger technology helped Karachaganak Petroleum Operating B.V. (KPO) to avoid 1.3 million metric tons of CO2e emissions through zero-flaring techniques. Schlumberger deployed its surface pressure boosting package, a key part of its Production ExPRESS rapid production response solutions portfolio that requires no chemicals or well intervention. Conventional solutions often enable oil production while flaring the produced gas using methods that are both costly and result in increased emissions from flaring. Using technologies including the REDA Multiphase HPS horizontal multistage surface pump and the Vx Spectra surface multiphase flowmeter—both part of the Transition Technologies portfolio—flaring was completely eliminated, saving the gas instead for export. The integrated approach contributed to KPO being able to quickly bring wells back into production while commercializing gas that would have otherwise been flared.

Superior technologies optimize well trajectories and accelerate drilling.

Remote Operations and Advanced Technology Set Records for Drilling Efficiency in East Texas

In East Texas, KJ Energy drilled seven wells in the Cotton Valley Formation fully remotely using Schlumberger technology to continuously increase the drilling efficiency in the curve-lateral production section well over well. The longest single run lateral was drilled using the fit-for-basin bottomhole assembly that included the PowerDrive Orbit G2 rotary steerable system, xBolt G2 accelerated drilling service, and AxeBlade ridged diamond element bit. Other firsts for the basin were the fastest lateral and the longest lateral drilled without motor assistance. This performance helped KJ Energy attain 50% higher drilling efficiency compared to the conventional motor assemblies utilized to drill curves in the past.

In new energy technologies, Schlumberger is uniquely positioned to apply its domain expertise and experience in technology industrialization to be a leader in the energy transition at large. We continue to build partnerships across various industries to develop clean energy solutions.

Clean hydrogen production provides a path to decarbonization and a sustainable future.

Schlumberger New Energy Spearheads Support for Novel Clean Hydrogen Technology

The Schlumberger New Energy business has secured an investment in ZEG Power to scale up the ZEG ICC™ technology for clean hydrogen production from hydrocarbon gas. The ZEG ICC technology is based on sorbent enhanced reforming and was originally developed at the Institute for Energy Technology (IFE) in Norway. The first commercial ZEG plant will be installed by year-end 2022 and put into operation in 2023 at CCB Energy Park at Kollsnes, Norway, adjacent to the planned Northern Lights CO2 storage infrastructure.

CO2 capture solution works across industries and enhances CCUS project economics.

Schlumberger New Energy Collaborates on CO2 Capture Technology for Various Sectors

Expanding its portfolio of CO2 capture technologies, Schlumberger's New Energy business has entered into an agreement with RTI International to accelerate the industrialization and scale-up of its proprietary nonaqueous solvent (NAS) technology for CO2 capture. The NAS technology is applicable to a broad variety of industrial emissions, including the hard-to-abate emissions from steel and cement industries and emissions from power generation. This next-generation absorption technology enables higher carbon capture efficiency while consuming less energy compared to conventional solvents, resulting in a significant reduction in operating costs and enhancing CCUS project economics. RTI and Schlumberger will collaborate to develop models that enable fast design and process customization to achieve a step-change in CO2 capture operations while leveraging Schlumberger's global footprint to expand market opportunities for the technology.