Jump to content

Schlumberger: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
Guyzero (talk | contribs)
3,485 edits
Undid revision 309572133 by Geco2007 (talk) rm unsourced information
→‎History: Added 2004 WesternGeco visa fraud investigation
Line 54: Line 54:


In 2001, Schlumberger acquired the IT consultancy company [[Sema Group|Sema plc]] for $5.2 billion. The company was an Athens 2004 Summer Olympics partner, but Schlumberger's venture into IT consultancy did not pay off, and divestiture of Sema to [[Atos Origin]] was completed that year for $1.5 billion. The Cards division was divested through an IPO to form [[Axalto]], which later merged with [[Gemplus International|Gemplus]] to form [[Gemalto]], and the Messaging Solutions unit was spun off and merged with Taral Networks to form [[Airwide Solutions]]. In 2003, the Automated Test Equipment group, part of the 1979 [[Fairchild Semiconductor]] acquisition, was spun off to NPTest Holding, which later sold it to [[Credence Systems Corporation|Credence]].
In 2001, Schlumberger acquired the IT consultancy company [[Sema Group|Sema plc]] for $5.2 billion. The company was an Athens 2004 Summer Olympics partner, but Schlumberger's venture into IT consultancy did not pay off, and divestiture of Sema to [[Atos Origin]] was completed that year for $1.5 billion. The Cards division was divested through an IPO to form [[Axalto]], which later merged with [[Gemplus International|Gemplus]] to form [[Gemalto]], and the Messaging Solutions unit was spun off and merged with Taral Networks to form [[Airwide Solutions]]. In 2003, the Automated Test Equipment group, part of the 1979 [[Fairchild Semiconductor]] acquisition, was spun off to NPTest Holding, which later sold it to [[Credence Systems Corporation|Credence]].

In 2004, [[Federal Bureau of Investigation|U.S. Federal investigators]] found that Schlumberger's WesternGeco subsidiary had committed visa fraud 421 times between 2000 and 2004, knowingly having its foreign employees file fraudulent applications for U.S. work visas; these illegal aliens were working on U.S.-owned ships in U.S. territorial waters in the [[Gulf of Mexico]]. WesternGeco was fined US$18 million and invoiced $1.6 million for the cost of the investigation.<ref name=ethisphere>{{cite web
|url=http://ethisphere.com/schlumberger-subsidiary-fined-196-million-for-visa-fraud/|title=Schlumberger Subsidiary Fined $19.6 Million for Visa Fraud…|date=June 9, 2006|accessdate=8/23/2009}}</ref>


On January 10, 2005 Schlumberger purchased [[Waterloo Hydrogeologic]],<ref>[http://www.flowpath.com/whi-slb-press-release.htm Waterloo Hydrogeologic Inc, - Schlumberger Press Release<!-- Bot generated title -->]</ref> which was followed by several other [[groundwater]] industry related companies, such as Westbay Instruments, and Van Essen Instruments.
On January 10, 2005 Schlumberger purchased [[Waterloo Hydrogeologic]],<ref>[http://www.flowpath.com/whi-slb-press-release.htm Waterloo Hydrogeologic Inc, - Schlumberger Press Release<!-- Bot generated title -->]</ref> which was followed by several other [[groundwater]] industry related companies, such as Westbay Instruments, and Van Essen Instruments.

Revision as of 18:59, 23 August 2009

For other uses, see Schlumberger (disambiguation).
Schlumberger Limited
Company typePublic (NYSE: SLB)
IndustryOilfield Services
Founded1926
HeadquartersOperates in 80+ countries. Incorporated in the Netherlands Antilles with principal offices in Houston,[1] Paris and The Hague.
Key people
Chairman & CEO: Andrew Gould
EVP & CFO: Simon Ayat
CTO: Ashok Belani
ProductsOil field services
RevenueUS$27.16 billion (2008)
5,011,000,000 United States dollar (2022) Edit this on Wikidata
3,441,000,000 United States dollar (2022) Edit this on Wikidata
Total assets77,956,000,000 United States dollar (2016) Edit this on Wikidata
Number of employees
87,000+ of 140+ nationalities
Websitewww.slb.com
Schlumberger complex in Sugar Land, Texas

Schlumberger Limited (French pronunciation: [ʃlœ̃bɛʁʒe]; English: /ˌslʌmbərˈʒeɪ/ (variable)) is the world's largest oilfield services corporation operating in approximately 80 countries, with about 87,000 employees (March 2009). Schlumberger supplies products and services such as seismic acquisition and processing, formation evaluation, well testing and directional drilling, well cementing and stimulation, artificial lift, well completions and consulting, and software and information management. Schlumberger also provides similar products and services for the groundwater industry. Schlumberger is a Fortune Global 500 company.

Business

Operating revenue in 2008 was US$27.16 billion with a market capitalization as of 5 May 2009, of US$63.77 billion.[2]

History

Schlumberger Limited began life as the Société de Prospection Électrique (Electric Prospecting Company) founded in 1926 by Conrad and Marcel Schlumberger. Prior to founding their company, they had worked conducting geophysical surveys in countries such as Romania, Canada, Serbia, South Africa, the Democratic Republic of the Congo, and the United States. The newly founded Société de Prospection Électrique sold electrical-measurement mapping services, and quickly began expanding. The company recorded the first electrical resistivity well log in Merkwiller-Pechelbronn, France in 1927, and logged their first well in the US (in Kern County, California) in 1929.

In 1934, the Schlumberger Well Surveying Corporation was founded in Houston. This was later to become Schlumberger Well Services (and later Schlumberger Wireline & Testing). In 1940, the company moved its headquarters to Houston.[3][4] The next decades the Microlog tool, Laterolog system, and Microlaterolog tool were invented. The Ridgefield, Connecticut Research Center (Schlumberger-Doll Research or SDR) was inaugurated in 1948.

In 1956, the company known as Schlumberger Limited was officially set up in Curaçao as a holding company for all Schlumberger businesses. The American testing and production company Johnston Testers was acquired as well. In 1960, Dowell Schlumberger (50% Schlumberger, 50% Dow Chemical), which specialized in pumping services for the oil industry, was formed. In 1962, Schlumberger Limited became listed on the New York Stock Exchange.

Schlumberger purchased 50% of Forex in 1964 and merged it with 50% of Languedocienne to create the Neptune Drilling Company. The first computerized reservoir analysis, SARABAND, was introduced in 1970. The remaining 50% of Forex was acquired the following year; Neptune was renamed Forex Neptune Drilling Company. In 1979, Fairchild Camera and Instrument (including Fairchild Semiconductor), became a subsidiary of Schlumberger Limited.

The Schlumberger Cambridge Research Centre, designed by Michael Hopkins and Partners was opened in 1985.

Schlumberger established the first international data links with e-mail in 1981. In 1983, Schlumberger opened their Cambridge Research Center in Cambridge, England.

The SEDCO drilling rig company and half of Dowell of North America were acquired in 1984, resulting in the creation of the Anadrill drilling segment, a combination of Dowell and The Analysts' drilling segments. Forex Neptune was merged with SEDCO to create the Sedco Forex Drilling Company the following year, when Schlumberger purchased Merlin and 50% of GECO.

In the 1970s its top executives in North America were relocated to New York City.[5]

Schlumberger's Information Network, or SINet, launched in 1985, is the world's second largest internal corporate network and the first commercial ARPANet-based intranet.

In 1987, Schlumberger completed their purchases of Neptune (North America), Bosco and Cori (Italy), and Allmess (Germany). That same year, National Semiconductor acquired Fairchild Semiconductor from Schlumberger for $122 million, and the domain name slb.com was registered by the company.[6] In 1991, Schlumberger acquired PRAKLA-SEISMOS, and pioneered the use of geosteering to plan the drill path in horizontal wells.

Schlumberger acquired the software company GeoQuest Systems, Inc. in 1992. With the purchase came the conversion of SINet to TCP/IP and www capability. in 1990s Schlumberger bought out the petroleum division, AEG meter, and ECLIPSE reservoir study team Intera Technologies Corp. A joint venture between Schlumberger and Cable & Wireless plc resulted with the creation of Omnes, which today handles all of Schlumberger's internal IT business. Oilphase and Camco International were also purchased.

Schlumberger moved its Houston-area offices from 5000 Gulf Freeway to a 200-acre (0.81 km2) campus at 300 Schlumberger Drive in Sugar Land, Texas in 1995.[3][4][7]

In 1999, Schlumberger and Smith International created a joint venture, M-I L.L.C., the world's largest drilling fluids (or mud) company. The company consists of 60% Smith International, and 40% Schlumberger. Since the joint venture was prohibited by a 1994 antitrust consent decree barring Smith from selling or combining their fluids business with certain other companies, including Schlumberger, the U.S. District Court in Washington, D.C. found Smith International Inc. and Schlumberger Ltd. guilty of criminal contempt and fined each company $750,000 and placed each company on five years probation. Both companies also agreed to pay a total of $13.1 million, representing a full disgorgement of all of the joint venture's profits during the time the companies were in contempt.[8]

In 2000, the Geco-Prakla division was merged with Western Geophysical to create the seismic contracting company WesternGeco, of which Schlumberger held a 70% stake, the remaining 30% belonging to competitor Baker Hughes. Under new business policy, the company got rid of its famous brand names in the oilfield service industry viz, Anadrill, Dowell, GeoQuest, Geco-Prakla, Wireline & Testing in order to promote and sell its oil and gas services under the single trading name of Schlumberger Oilfield Services (OFS). Sedco Forex was spun off, and merged with Transocean Drilling company in 2000.

In 2001, Schlumberger acquired the IT consultancy company Sema plc for $5.2 billion. The company was an Athens 2004 Summer Olympics partner, but Schlumberger's venture into IT consultancy did not pay off, and divestiture of Sema to Atos Origin was completed that year for $1.5 billion. The Cards division was divested through an IPO to form Axalto, which later merged with Gemplus to form Gemalto, and the Messaging Solutions unit was spun off and merged with Taral Networks to form Airwide Solutions. In 2003, the Automated Test Equipment group, part of the 1979 Fairchild Semiconductor acquisition, was spun off to NPTest Holding, which later sold it to Credence.

In 2004, U.S. Federal investigators found that Schlumberger's WesternGeco subsidiary had committed visa fraud 421 times between 2000 and 2004, knowingly having its foreign employees file fraudulent applications for U.S. work visas; these illegal aliens were working on U.S.-owned ships in U.S. territorial waters in the Gulf of Mexico. WesternGeco was fined US$18 million and invoiced $1.6 million for the cost of the investigation.[9]

On January 10, 2005 Schlumberger purchased Waterloo Hydrogeologic,[10] which was followed by several other groundwater industry related companies, such as Westbay Instruments, and Van Essen Instruments.

In late 2006, the corporate head office moved from New York to a Galleria-area location in Houston.[3][5][11] In 2006, a 2 for 1 stock split was announced, effective as of March 1, 2006.

On April 21, 2006, Schlumberger purchased the remaining 30% of WesternGeco from Baker Hughes for US$2.4 billion.

In 2006, the Schlumberger-Doll Research center was relocated to a newly-built new research facility in Cambridge, Massachusetts to replace the Ridgefield, Connecticut research center. The move was completed at the end of 2006. The new facility joins the other research centers operated by the company in Cambridge, England; Moscow, Russia; Stavanger, Norway; and Dhahran, Saudi Arabia.

Environmental record

Schlumberger has set up planning models and hired experts to decrease damage to the environment.[12] With the help of experts, Schlumberger has set up systems such as OneSTEP, to reduce damage, use fewer chemicals, and decreasing costs by cutting back on equipment.[13]

To diminish the equipment on sites and thus the resulting effect on the ground, Schlumberger as well as Cisco Systems and Intel Team have created a digital oilfield. The use of wireless service will enable workers to drill using communication through the wireless sensors.[14]

In 2006, Schlumberger agreed to pay $11.8 million to federal and state agencies for damaging a fishery and a natural habitat. The cause of the problem was from polychlorinated biphenyls released into the environment by Sangamo-Weston from 1955 to 1987. Schlumberger assumed the liabilities of Sangamo associated with the PCB contamination in a series of corporate transactions that took place between 1990 and 2003. In addition to paying for a solution to this problem, the company is also using $8 to $10 million to remove hydroelectric dams in Twelve Mile Creek and restore the stream.[15]

Management

Technologies
  • Paal Kibsgaard — President - Reservoir Characterization Group
  • Carl Trowell — President - WesternGeco
  • Catherine MacGregor — President - Wireline
  • JF Poupeau — President - Drilling & Measurements
  • Hatem Soliman — President - Testing
  • Claude Durocher — Vice President - Slickline
  • Pascal Panetta — Vice President - Subsea
  • Doug Pferdehirt — President - Reservoir Production Group
  • Patrick Schorn — President - Well Services
  • Steve Orr — President - Artificial Lift
  • Eric Larson — President - Completions
  • Axel Destremau — Vice President - Sand Management
  • Jeff Spath — President - Reservoir Management Group
  • Sophie Zurquiyah — President - Data & Consulting Services
  • Tony Bowman — President - Schlumberger Information Solutions
  • Antoine Rostand — President - Schlumberger Business Consulting
  • David White — President - Water & Carbon Services
Areas
  • Satish Pai — Vice President - Operations
  • Mark Corrigan — President - Europe & Africa
  • Cesar Jaime — President - Latin America
  • Maurice Dijols — President - Russia
  • Aaron Gatt Floridia — President - Middle East & Asia
  • Bill Coates — President - North America
  • Miguel Galuccio — President - Integrated Project Management
EMS - Engineering, Manufacturing & Sustaining
  • Charles Woodburn — Vice President - Engineering, Manufacturing & Sustaining

[16]

References

  1. ^ "Investor Contacts." Schlumberger. Retrieved on January 13, 2009.
  2. ^ [1]
  3. ^ a b c "Schlumberger to move U.S. headquarters to Houston." Houston Business Journal. Wednesday October 26, 2005. Retrieved on January 13, 2009.
  4. ^ a b Sarnoff, Nancy. "Burger King sniffing for new home / Houston said to be in running for headquarters' possible relocation." Houston Chronicle. Sunday February 3, 2005. Business 3. Retrieved on January 13, 2009.
  5. ^ a b Clanton, Brett. "ENERGY / Growth in the oil patch translates into good times for oil-field-services firms like Schlumberger - and for Houston / The best of times means more jobs." Houston Chronicle. Friday September 29, 2006. Business 1. Retrieved on January 13, 2009.
  6. ^ http://www.slb.com/content/about/history.asp?
  7. ^ "North America (NAM) Contacts." Schlumberger. Retrieved on January 13, 2009.
  8. ^ [2]
  9. ^ "Schlumberger Subsidiary Fined $19.6 Million for Visa Fraud…". June 9, 2006. Retrieved 8/23/2009. {{cite web}}: Check date values in: |accessdate= (help)
  10. ^ Waterloo Hydrogeologic Inc, - Schlumberger Press Release
  11. ^ Roper, John C. "Services company bound for Houston / Schlumberger moving base closer to oil-field clients." Houston Chronicle. Wednesday October 16, 2005. Business 1. Retrieved on January 13, 2009.
  12. ^ Schlumberger, Environmental Solutions
  13. ^ Schlumberger, OneSTEP
  14. ^ Schlumberger, Cisco Systems and Intel Team to Develop a New First Mile Wireless Service
  15. ^ Company To Pay $11.8 Million In Compensation For PCB-Damaged Fishery, Habitat | Environmental Protection
  16. ^ Schlumberger, Executive Management

See also

Retrieved from "https://en.wikipedia.org/w/index.php?title=Schlumberger&oldid=309642707"