Schlumberger Issues Venezuela Update

  Schlumberger Issues Venezuela Update

Business Wire

PARIS -- March 31, 2013

Schlumberger CEO Paal Kibsgaard commented, “In Venezuela, after meetings with
PDVSA, the collections have improved to the point that we will recognize all
revenue associated with our first-quarter operations. We further expect to
finalize a new payment agreement with PDVSAand weanticipate ramping up
activity to meet the current and future needs of PDVSA's development and
production plans, thereby continuing our commitment to Venezuela.”

About Schlumberger

Schlumberger is the world’s leading supplier of technology, integrated project
management and information solutions to customers working in the oil and gas
industry worldwide. Employing more than 118,000 people representing over 140
nationalities and working in approximately 85 countries, Schlumberger provides
the industry’s widest range of products and services from exploration through
production.

Schlumberger Limited has principal offices in Paris, Houston and The Hague,
and reported revenues of $42.15 billion in 2012. For more information, visit
www.slb.com.

This press release and other statements we make contain “forward-looking
statements” within the meaning of the federal securities laws, which include
any statements that are not historical facts, such as our forecasts or
expectations regarding business outlook; increased activity in certain areas
of the world; the business strategies of Schlumberger’s customers; future
global economic conditions; and future results of operations. These statements
are subject to risks and uncertainties, including, but not limited to, changes
in exploration and production spending by Schlumberger’s customers and changes
in the level of oil and natural gas exploration and development; delays in
collections of receivables; general economic, political and business
conditions in key regions of the world; operational delays; and other risks
and uncertainties detailed in our most recent Form 10-K and other filings that
we make with the Securities and Exchange Commission. If one or more of these
or other risks or uncertainties materialize (or the consequences of such a
development changes), or should our underlying assumptions prove incorrect,
actual outcomes may vary materially from those reflected in our
forward-looking statements. Schlumberger disclaims any intention or obligation
to update publicly or revise such statements, whether as a result of new
information, future events or otherwise.

Contact:

Schlumberger Limited
Malcolm Theobald, Vice President of Investor Relations
or
Joy V. Domingo, Manager of Investor Relations
+ 1 (713) 375-3535
investor-relations@slb.com
 
Press spacebar to pause and continue. Press esc to stop.