SUMMARY

Oilfield services firm has been preparing rebrand for three years.

By Dale Lunan

US oilfield services company Schlumberger said October 24 it had rebranded, and will now be known as SLB, which it said underscores its vision for a decarbonised energy future.

“Today we face the world’s greatest balancing act – providing reliable, accessible and affordable energy to meet growing demand, while rapidly decarbonising for a sustainable future,” CEO Olivier Le Peuch said. “This dual challenge requires a balance of energy affordability, energy security and sustainability.”

SLB has spent the last three years laying the groundwork for its increasing focus on low- and zero-carbon energy technology solutions. In 2020, it launched its New Energy business to explore partnerships in the energy evolution, and in 2021 it became the first energy services business to commit to a net-zero target, including Scope 3 emissions, from the use of its technologies.

SLB has introduced a portfolio of Transition Technologies™ that bring quantifiable, science-based emissions reduction benefits. An example is its zero-flaring well test and cleanup technique, which has been used by its customers to reduce 80,000 tons/year of CO2 emissions.