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*
PAI SATISH	

(Last)	(First)	(Middle)	
153 EAST 53RD STREET 57TH FLOOR	

(Street) 
NEW YORK	NY	10022-4624	

(City)	(State)	(Zip)	
	2. Date of Event Requiring Statement (Month/Day/Year)
02/01/2004 	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	
	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	2,738	D		
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) 	
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares				
Incentive Stock Option (right to buy)	04/16/1997(1) 	04/16/2006	Common Stock	2,198	38.473	D		
Incentive Stock Option (right to buy)	04/17/2003(2) 	04/17/2012	Common Stock	1,793	55.745	D		
Incentive Stock Option (right to buy)	04/19/2001(3) 	04/19/2010	Common Stock	5,937	73.032	D		
Incentive Stock Option (right to buy)	01/17/2002(4) 	01/17/2011	Common Stock	1,937	77.063	D		
NQ Stock Option (right to buy) w/ tandem Tax w/h right	07/16/2004(5) 	07/16/2013	Common Stock	40,000	46.02	D		
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/21/2000(6) 	04/21/2009	Common Stock	3,297	55.619	D		
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/17/2003(2) 	04/17/2012	Common Stock	78,207	55.745	D		
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/19/2001(3) 	04/19/2010	Common Stock	63	73.032	D		
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/17/2002(4) 	01/17/2011	Common Stock	23,063	77.063	D		
NQ Stock Option (right to buy) w/ tandem Tax w/h right	10/21/1998(7) 	10/21/2007	Common Stock	1,648	82.348	D		
Explanation of Responses:	
1. Option became exercisable in five annual installments beginning on April 16, 1997.	
2. Exercisable in five equal annual installments beginning April 17,2003.	
3. The option became exercisable in five equal annual installments beginning April 19,2001.	
4. The options become exercisable in five equal installments beginning January 17, 2002.	
5. This option becomes exercisable in four equal annual installments beginning July 16, 2004.	
6. Exercisable in five equal annual installments beginning April 21, 2000.	
7. The option becomes exercisable in five equal annual installments beginning October 21, 1998.	
	By: /s/Janet B. Glassmacher Attorney-in-Fact For: Satish Pai	02/06/2004	
	** 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 or Form 5, 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 and 5.

February 2, 2004                     /s/ Satish Pai
                                      Satish Pai