SEC Filing

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SEC FORM 3 SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Oyinlola H Sola

(Last)

(First)

(Middle)

5599 SAN FELIPE 17TH FLOOR

(Street)

HOUSTON

77056

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/01/2007

3. Issuer Name and Ticker or Trading Symbol
SCHLUMBERGER LTD /NV/ [ SLB ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
VICE PRESIDENT TREASURER

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	4,555	D
Common Stock	210	I	SL Prof. Sharing Pln

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (right to buy) w/ tandem Tx w/h right	⁽¹⁾	07/16/2013	Common Stock	2,500	23.01	D
Employee Stock Option (right to buy) w/ tandem Tx w/h right	⁽²⁾	04/17/2012	Common Stock	13,000	27.873	D
Employee Stock Option (right to buy) w/ tandem Tx w/h right	⁽³⁾	04/18/2011	Common Stock	12,000	31.188	D
Employee Stock Option (right to buy) w/ tandem Tx w/h right	⁽⁴⁾	07/21/2014	Common Stock	7,500	32.618	D
Employee Stock Option (right to buy) w/ tandem Tx w/h right	⁽⁵⁾	10/19/2010	Common Stock	8,000	41.141	D
Employee Stock Option (right to buy) w/ tandem Tx w/h right	⁽⁶⁾	01/18/2016	Common Stock	10,000	54.235	D
Employee Stock Option (right to buy) w/ tandem Tx w/h right	⁽⁷⁾	07/19/2016	Common Stock	20,000	63.545	D

Explanation of Responses:

1. This option becomes exercisable in four equal annual installments beginning July 16, 2004.

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

3. The options become exercisable in five equal installments beginning April 18, 2002.

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

5. Exercisable in five equal annual installments beginning October 19, 2001.

6. This option becomes exercisable in four equal annual installments beginning January 18, 2007.

7. This option becomes exercisable in five equal annual installments beginning July 19, 2007.

	By: Janet B. Glassmacher Attorney-in-Fact For: H. Sola Oyinlola	03/01/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

                       SCHLUMBERGER LIMITED

                         POWER OF ATTORNEY

The undersigned in his capacity as a director or officer or both
of Schlumberger Limited, a Netherlands Antilles corporation (the "Company"),
does hereby appoint Janet B. Glassmacher, Lynda M. Quagliara and Ellen Summer,
and each of them severally, his true and lawful attorney-in fact with power
to act with or without the other and with full power of substitution and
resubstitution, to execute for him and in his name, place and stead, in his
capacity as a director or officer or both of the Company, a statement of
beneficial ownership on Form 3, Form 4, Form 5 or Form 144, and to file the
same or cause the same to be filed with the Securities and Exchange
Commission.  This Power of Attorney shall remain in full force and effect
until the undersigned is no longer required to file Forms 3, 4, 5 and 144.


February 1, 2007                      /s/ H. Sola Oyinlola
					H.Sola Oyinlola