Schlumberger is the leading oilfield services provider, trusted to deliver superior results and improved E&P performance for

oil and gas companies around the world. Through our well site operations and in our research and engineering facilities, we are working to develop products, services and solutions that optimize customer performance in a safe and environmentally sound manner. Knowledge, technical innovation and teamwork are at the center of who we are. For more than 80 years, we have focused on leveraging these assets to deliver solutions that improve customer performance.

Corporate Profile
Today, our real-time technology services and solutions enable customers to translate acquired data into useful information, then transform this information into knowledge for improved decision making-anytime, anywhere. Harnessing information technology in this way offers enormous opportunities to enhance efficiency and productivity. This is a quantum leap from providing traditional 'just-in-case' information to delivering 'just-in-time' knowledge that meets the changing needs of our customers.

International teamwork
Reflecting our belief that diversity spurs creativity, collaboration, and understanding of customers' needs, we employ over 113,000 people of more than 140 nationalities working in approximately 85 countries. Our employees are committed to working with our customers to create the highest level of added value. Knowledge communities and special interest groups with our organization enable teamwork and knowledge sharing unencumbered by geographic boundaries.

Technology innovation
With 25 research and engineering facilities worldwide, we place strong emphasis on developing innovative technology that adds value for our customers. In 2010, we invested $919 million in R&D. More about our technology and services...

Backgrounder
Schlumberger Limited (NYSE:SLB) is the world's leading oilfield services company supplying technology, information solutions and integrated project management that optimize reservoir performance for customers working in the oil and gas industry.

Backgrounder
Schlumberger
Schlumberger Limited (NYSE:SLB) is the world's leading oilfield services company supplying technology, information solutions and integrated project management that optimize reservoir performance for customers working in the oil and gas industry. Founded in 1926, today the company employs more than 113,000 people of over 140 nationalities working in approximately 85 countries. The company comprises two business segments:

Schlumberger Oilfield Services supplies a wide range of products and services from formation evaluation through directional drilling, well cementing and stimulation, well completions and productivity to consulting, software, information management and IT infrastructure services that support core industry operational processes. WesternGeco is the world's largest seismic company and provides advanced acquisition and data processing services. Schlumberger has principal offices in Houston, Paris and The Hague. Revenue was $39.54 billion in 2011. Schlumberger stock is listed on the New York Stock Exchange, ticker symbol SLB, on the Euronext Paris, Euronext Amsterdam, London and the SWX Swiss stock exchanges.

Organization
Schlumberger manages its business through 35 GeoMarket regions, which are grouped into four geographic areas: North America, Latin America, Europe & Africa, Russia, Middle East and Asia. The GeoMarket structure offers customers a single point of contact at the local level for field operations and brings together geographically focused teams to meet local needs and deliver customized solutions. Working together with the company's technology segments, the GeoMarkets provide a powerful conduit through which information and know-how flow to the customers, and through which Schlumberger engineers and geoscientists maximize technological synergies over the entire life of the field.

Competitive Advantage
Schlumberger offers its clients four key advantages: Deep domain knowledge of exploration and production operations gained through 75 years of experience The service industry's longest commitment to technology and innovation through a network of 25 research, development, and technology centers A global reach in more than 85 countries coupled to strong local experience and the diversity in thought, background and knowledge that more than 140 nationalities bring A commitment to excellence in service delivery anytime, anywhere.

Research and Development

The company was founded by the two Schlumberger brothers who invented wireline logging as a technique for obtaining downhole data in oil and gas wells. Today, it continues to build on the industry's longest track record of providing leading edge E&P technology to develop new advancements-from reservoir to surface. Schlumberger has always invested significant time and money on research and engineering as a long-term strategy to support and grow its technology leadership. Short-term business cycles do not affect this. In 2010, we invested $919 million in R&D for our oilfield activities. Schlumberger invests more each year in R&D than all other oilfield services companies combined.

Schlumberger Products, Services and Solutions

Schlumberger services and solutions combine domain expertise, best practices, safe and environmentally sound well site operations, innovative technologies, and high-quality support aimed at helping its customers increase oilfield efficiency, lower finding and producing costs, improve productivity, maximize reserve recovery, and increase asset value in a safe, environmentally sound manner. Today, Schlumberger Oilfield Services solutions include open-hole and cased-hole wireline logging; drilling services; well services, such as cementing, coiled tubing, stimulations and sand control; well completion services including well testing and artificial lift; interpretation and consulting services; and integrated project management. Strong technical and operational support to the field is vital to the success of any complex global operation that includes remote locations. The key is to provide real-time linkage with world-class experts and knowledge, delivering the latest and best problem-solving capabilities-anywhere, anytime. The company's InTouchsupport.com knowledge management tool improves field access to Schlumberger technology centers through the most advanced IT tools, 24-hours a day, seven days a week. Enhancing core E&P operations to improve production, increase reserves and drill better wells requires the integration of innovative information technology. Schlumberger Information Solutions (SIS) offers a unique combination of people and processes, technology and infrastructure, and real-time IT enablers-delivering key valueadding solutions to overcome a myriad of challenges confronting industry operational processes. SIS offers information management, software technology and infrastructure services. Combined with the domain experience available through the Business Consulting group, these enable oil and gas companies to enhance their workflows and achieve their goals.

As the industry's focus is moving towards maximizing post-plateau production and ultimate recovery, oil companies have to face more and more resource intensive projects. Integrated Project Management (IPM) is the Schlumberger response to this challenge and a significant growth area for Schlumberger. IPM activity is characterized by long-term relationships between the customer and Schlumberger. It offers a combination of engineering, process management and understanding of Schlumberger segment technologies. As well as providing technology and expertise, Schlumberger often works with local subcontractors to harness local knowledge and experience. Schlumberger has achieved a number of successes in IPM in particular in Mexico. The Burgos project for example, now in its seventh year, has delivered 237 completed wells, which include the drilling of 2.3 million ft of hole. The benefits to the customer have included accelerated production, reduced capital expenditure and increased efficiency.

WesternGeco
WesternGeco provides comprehensive worldwide reservoir imaging, monitoring, and development services, with the most extensive seismic crews and data processing centers in the industry, as well as the world's largest multiclient seismic library. Services range from 3D and time-lapse (4D) seismic surveys to multicomponent surveys for delineating prospects and reservoir management. Positioned to meet the full range of customer needs in land, marine, and shallow-water transition-zone areas, WesternGeco draws on a superior record of market-driven innovation and technology leadership. Seismic solutions include proprietary Q-Technology* for enhanced reservoir description, characterization, and monitoring throughout the life of the field-from exploration through enhanced recovery. Q* single-sensor hardware and software are setting a new quality and capability standard for seismic solutions. The company's Omega* Seismic Processing System encompasses the industry's most advanced and comprehensive suite of algorithms and runs on multiplatform technology, ensuring timely turnaround for even the most complex processing projects.

Guiding Principles
Our values, conduct and behavior
Making the most of our unique assets, Schlumberger is committed to providing services that enhance and optimize our customers' performance. Three well-established company Values that focus on people, technology and profit underpins our work. Our people thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide is our greatest strength. Our commitment to technology and quality is the basis for our competitive advantage. Our determination to produce superior profits is the cornerstone for our future independence of action and growth.

Our commitment to customers

Schlumberger is committed to excellence in everything we seek to do. We aim to do business in a consistent and transparent way with all our clients and do not hold equity stakes in our customers' assets. Customers place a great deal of trust in us, particularly when it comes to handling sensitive and confidential information. Our reputation for integrity and fair dealing is vitally important in winning and retaining this trust. Schlumberger strives to maintain the trust and confidence of our customers and shareholders, as well as all others affected by our operations. When we are clearly seen to behave in an ethical manner we enhance our reputation for integrity, which in turn helps us attract and retain both customers and employees.

Code of Ethics
The Schlumberger Code of Ethics and Schlumberger policies apply to all Schlumberger directors, officers, and employees of the company. They are designed to help each employee handle business situations professionally and fairly.

Corporate Governance
Schlumberger Limited is committed to adhering to sound principles of corporate governance, and has adopted corporate governance practices that promote the effective functioning of our Board of Directors, its Committees and our company. Board of Directors | Corporate Governance Guidelines | Code of Ethics | Nominating & Governance Committee | Compensation Committee | Audit Committee | Finance Committee | Science and Technology Committee | Contact the Schlumberger Limited Board

Workforce Diversity
One of our greatest strengths is the diversity of our workforce, with men and women of many nationalities and backgrounds working together and sharing common objectives.

Code of Ethics
The Schlumberger Code of Ethics and Schlumberger policies apply to all Schlumberger directors, officers, and employees of the company. They are designed to help each employee handle business situations professionally and fairly. The Code emphasizes Schlumberger values and encourages employees to incorporate those values into their working lives. As a practical and clear guide to the behavior that the company expects from every one of its people worldwide, it deliberately sets consistent and high standards for all employees, no matter their position or where they work in the world. It is a broad outline supporting a range of company policies, standards, guidelines, business processes and procedures that set out Schlumberger's obligations and responsibilities to behave ethically in every aspect of business life.

Notice Regarding Updated Schlumberger Code of Ethics

October 6, 2008 The Schlumberger Code of Ethics is reviewed periodically and amended as appropriate. In October 2008, we improved the Code with the following major additions: Changes to the Chairman & Chief Executive Officer's opening Letter emphasizing accountability and noting the requirement of a proactive approach to ethical, legal, and compliance concerns by identifying, reporting, and addressing them as necessary; Emphasis on the role of management in ensuring communication and implementation of the Code of Ethics and the associated Schlumberger policies, and highlighting that retaliation is forbidden; Expressly requiring Schlumberger employees to incorporate the Code standards when interacting with customers, contractors, as well as others affected by our operations; Expressly prohibiting the contracting or use of, directly or indirectly, slave labor, child labor or any form of forced labor; Providing additional explanation regarding Business Gifts; Providing additional emphasis on the selection of contractors and suppliers and approving their quotations; Discussing Quality separately from HSE; emphasis on stopping the job and excellence in execution; Expressly including Data Privacy and Protection; Including discussion of personal use of social networking and third-party web sites; Noting that employees are required to cooperate with company investigations; Highlighting risks associated with the receipt of confidential information; Noting ownership but not purchase of client shares is permitted; Refinement of the language on improper payments and generally prohibiting the payment of facilitation or expediting payments; Expressly including respect of immigration laws; and Elaborating on maintaining business records.

The foregoing is only a summary of select substantive changes to the Code. Please refer to the full text of the Code for more information.

Workforce Diversity
One of our greatest strengths is the diversity of our workforce, with men and women of many nationalities and backgrounds working together and sharing common objectives. Schlumberger does not have a 'nationality' which describes its culture, but operates in a truly global fashion throughout the world. As a company, we encourage fair employment practices worldwide and offer equal opportunities to all our employees. We also try to take family considerations into account in any decisions about personnel matters or assignments.

Workplace Diversitydeveloping human resources for the future

Our customers, suppliers and shareholders are increasingly global and diverse. They expect us to understand, respond and deliver services that meet their unique expectations. We must attract and retain top performers worldwide from the full depth of the talent pool and address the evolving needs of our workforce in terms of quality of life and dual career expectations. By creating a variety of perspectives gender and culturethat stimulate productive creativity and innovationwe maintain our competitive edge. Three prerequisites upon which we will proceed with our diversity efforts: We are a publicly traded corporation concerned with profitability and shareholder return. Meritocracy drives our actions, decisions and employee advancement. While it is a competitive advantage that our workforce communicates in a multitude of languages, English is the common language of our internal management communication.

Gender Diversitya commitment to act

Our gender diversity focus began in 1994 and we have made progress since that time. Looking forward, our goal is to continually increase the percentage of women we recruit worldwide, ensure proper career development for highperforming women, and increase our organizational flexibility to accommodate a wider range of personal situations.

Nationality Diversityleveraging the human resources of all nations

Schlumberger has been successful in attracting and developing nonwestern nationalities or nationalities from emerging countries, now integrated into all levels of the work force, including senior management.

Family and Work Life-mobility initiatives that work

Our people, men and women worldwide, are our main asset. The change in the composition of our workforce necessitates an adjustment in our attitude toward recruitment, retention and mobility of our employees.

Dual Careersmoving across functions, technologies and geographies

One of the most significant changes in our society in the last several decades has been the entry and continued presence of women in the working population. Families in marriages in which both spouses work are now the largest single group of families in the workplace. According to the US Bureau of Labor Statistics, 60% of all marriages are dual-career marriages; these couples make up 45% of the workforce. Because the proportion of people in dual career relationships is on the increase, this creates new challenges for the organization

Global Citizenship
Global Citizenship at Schlumberger reflects the diversity and integrity of our workforce. Drawn from 140-plus nationalities working in approximately 80 countries, our employees embody the qualities of global citizens maintaining high standards of behavior wherever we operate. As a business and a community of individuals, Schlumberger is connected to global challenges that also impact our employees, contractors, suppliers, clients, shareholders, families and communities. To guide our behavior, we have developed a framework that addresses these challenges while anchoring them in the bedrock that allows us to call ourselves global citizensethics and governance, health and safety, diversity and people development. The Schlumberger Global Citizenship framework focuses on six issues chosen because they are the ones to which we can bring most leadership and best practice:

Climate Change Environment Driving Safety Malaria Prevention HIV/AIDS Awareness Education

Research & Development

In 1927 Schlumberger was founded by the two brothers who invented wireline logging as a technique for obtaining downhole data in oil and gas wells. Today Schlumberger continues to build on the industry's longest track record for providing leading edge E&P technology to develop new advancements from reservoir to surface. Since its founding, the company has consistently invested significant time and money on research and development as a long-term strategy to support and grow our technology leadership. Short-term business cycles do not affect our commitment. With 25 R&D facilities around the world, Schlumberger places strong emphasis on developing innovative technology that adds value for our customers. Schlumberger consistently invests more in R&D each year than all other oilfield services companies.