SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* LACOUR GAYET PHILIPPE (Last) (First) (Middle) 153 EAST 53RD STREET 57TH FLOOR (Street) NEW YORK NY 10022-4624 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol SCHLUMBERGER LTD /NV/ [ SLB ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Vice President
	3. Date of Earliest Transaction (Month/Day/Year) 04/25/2006
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/25/2006		S		7,000	D	$69.7	54,746(1)	D
Common Stock	04/25/2006		S		13,000	D	$69.71	41,746(1)	D
Common Stock	04/25/2006		S		7,000	D	$69.77	34,746(1)	D
Common Stock	04/25/2006		S		4,300	D	$69.78	30,446(1)	D
Common Stock	04/25/2006		S		5,040	D	$69.8	25,406(1)	D
Common Stock	04/25/2006		M		7,194	A	$27.81	32,600(1)	D
Common Stock	04/25/2006		M		3,586	A	$27.873	36,186(1)	D
Common Stock	04/25/2006		M		36,764	A	$27.81	72,950(1)	D
Common Stock	04/25/2006		S		21,100	D	$67.68	51,850(1)	D
Common Stock	04/25/2006		M		44,414	A	$27.873	96,264(1)	D
Common Stock	04/25/2006		S		24,000	D	$67.68	72,264(1)	D
Common Stock	04/25/2006		M		10,000	A	$32.618	82,264(1)	D
Common Stock	04/25/2006		S		5,500	D	$67.68	76,764(1)	D
Common Stock	04/25/2006		M		7,500	A	$32.455	84,264(1)	D
Common Stock	04/25/2006		S		4,075	D	$67.68	80,189(1)	D
Common Stock								9,256	I	SL Int'l P/S Plan
Common Stock								2,840	I	SL Prof. Sharing Pln

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy) w/ tandem Tx w/h right	$27.81(2)	04/25/2006		M			36,764(2)	04/21/2000(3)	04/21/2009	Common Stock	36,764(2)	$0	0(2)	D
Employee Stock Option (right to buy) w/ tandem Tx w/h right	$27.873(2)	04/25/2006		M			44,414(2)	04/17/2003(4)	04/17/2012	Common Stock	44,414(2)	$0	8,414(2)	D
Employee Stock Option (right to buy) w/ tandem Tx w/h right	$32.618(2)	04/25/2006		M			10,000(2)	07/21/2005(5)	07/21/2014	Common Stock	10,000(2)	$0	30,000(2)	D
Incentive Stock Option (right to buy)	$27.81(2)	04/25/2006		M			7,194(2)	04/21/2000(3)	04/21/2009	Common Stock	7,194(2)	$0	0(2)	D
Incentive Stock Option (right to buy)	$27.873(2)	04/25/2006		M			3,586(2)	04/17/2003(4)	04/17/2012	Common Stock	3,586(2)	$0	3,586(2)	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	$32.455(2)	04/25/2006		M			7,500(2)	01/19/2006(6)	01/19/2015	Common Stock	7,500(2)	$0	19,420(2)	D

Explanation of Responses:

1. On March 1, 2006, the Common Stock of Schlumberger Limited split 2 for 1 resulting in the reporting person's acquisition of 30,873 additional shares.

2. Shares and option price were adjusted for the March 1, 2006 2 for 1 stock split.

3. Exercisable in five equal annual installments beginning April 21, 2000.

4. Exercisable in five equal annual installments beginning April 17,2003.

5. This option becomes exercisable in four equal annual installments beginning July 21, 2005

6. This option becomes exercisable in four equal annual installments beginning January 19, 2006.

Remarks:

On March 1, 2006, the Common Stock of Schlumberger Limited split 2 for 1 resulting in the reporting person's acquisition of 4,621 additional shares held in the SL International Profit Sharing Plan and 1,420 additional shares held in the SL Profit Sharing Plan.

	By: /s/Lynda M. Quagliara Attorney-in-Fact For: Philippe Lacour-Gayet	04/27/2006
	** Signature of Reporting Person	Date
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