Schlumberger Becomes SLB, a Technology Company Driving the Future of Energy
24 Oktober 2022 - 12:17PM
Business Wire
New identity focuses on energy innovation and decarbonization to
address the world's energy needs today and to forge the road ahead
for the energy transition
Regulatory News:
Schlumberger (NYSE: SLB) today announced its new
name—SLB—underscoring the company’s vision for a decarbonized
energy future and affirming its transformation from the world’s
largest oilfield services company to a global technology company
focused on driving energy innovation for a balanced planet.
Beginning today, the legacy Schlumberger brand and nearly all of
its affiliated brands will become one under the new SLB brand,
which introduces a refreshed visual identity, including a new logo
for the company—a symbol of where it is today and where it is
heading.
“Today we face the world’s greatest balancing act—providing
reliable, accessible and affordable energy to meet growing demand,
while rapidly decarbonizing for a sustainable future,” said Olivier
Le Peuch, chief executive officer, SLB. “This dual challenge
requires a balance of energy affordability, energy security and
sustainability. It requires a balance of innovation and
decarbonization in the oil and gas industry as well as clean energy
solutions. It requires a balanced energy mix for a balanced planet.
Our new identity symbolizes SLB's commitment to moving farther and
faster in facilitating the world's energy needs today and forging
the road ahead for the energy transition. It’s a bold challenge.
But the legacy of our people, technology and performance are
unmatched, and we are ready to answer this challenge.”
Brand evolution
The SLB brand builds on nearly a century of technology
innovation and industrialization expertise in the energy services
industry. The company has spent the last three years laying the
groundwork for its increasing focus on low- and zero-carbon energy
technology solutions while continuing to drive innovation,
decarbonization and performance for the oil and gas industry:
- In 2020, SLB launched its New Energy business to explore
partnerships and opportunities in low-carbon and carbon-neutral
technologies. This set in motion a years-long journey for the
company to expand its role in the new energy future through the
development of new technologies and partnerships.
- In 2021, SLB became the first company in the energy services
industry to commit to a net-zero target inclusive of total Scope 3
emissions from the use of its technologies.
- In tandem with this commitment, SLB introduced a portfolio of
Transition Technologies™ with a quantifiable, science-based
emissions reduction benefit. One example is SLB’s Zero-Flaring Well
Test and Cleanup technique, which has been used by customers to
reduce up to 80,000 tons of CO2 emissions—the equivalent of taking
nearly 18,000 cars off the road for a year.
- Earlier this year, the company announced SLB End-to-end
Emissions Solutions (SEES), a dedicated business for eliminating
methane emissions from oil and gas operations. Methane is an
important industry target because its warming effect is 84 times
greater than CO2 over a 20-year period and 28 times over a century.
SLB recently joined the Oil and Gas Climate Initiative’s “Aiming
for Zero Methane Emissions Initiative” to support energy companies’
efforts to curb the warming impact of their operational methane
emissions.
SLB today
Leveraging this progress and guided by its brand promise to
drive energy innovation for a balanced planet, SLB will focus on
delivering results-driven solutions for its customers in four
areas:
- New energy systems—SLB is focusing on creating and
scaling the new energy systems of tomorrow. With its New Energy
business evolving to a strategic driver for the company, SLB will
continue forging partnerships across various industries to develop
technologies across five areas: carbon solutions, hydrogen,
geothermal and geoenergy, energy storage and critical minerals.
This includes the company’s Celsius Energy business, which reduces
the carbon footprint of buildings by making energy accessible from
the earth, as well as Genvia, a clean hydrogen technology company
formed as a public/private partnership with France’s renewables
research agency, CEA, and other partners.
- Industrial decarbonization—Reducing emissions,
particularly from hard-to-abate industries, is critical to
achieving net zero targets. SLB is already working to make an
impact in this area. Last month, it announced plans to develop a
digital sustainability platform that will provide sustainability
solutions for hard-to-abate industrial sectors. SLB is also focused
on expanding technologies and opportunities for carbon capture,
utilization and sequestration (CCUS), which is one of the most
significant levers for decarbonizing multiple industries.
- Digital at scale—Digital capabilities continue to grow
throughout the energy industry and have become a key performance
and efficiency driver. SLB’s customers will be able to use the
company’s digital products and services to help meet their
sustainability goals by driving transparency, better measurement,
more effective planning and much more impactful outcomes with
integrity. SLB recently announced the commercial release of its
Enterprise Data Solution, which helps accelerate advanced
workflows. This latest innovation was built in alignment with the
emerging requirements of the OSDU™ Technical Standard, the open
industry standard for energy data.
- Oil and gas innovation—Building on its decades of
technology advancement, SLB will continue innovating new products,
services and technologies that make the exploration and development
of oil and gas assets cleaner, more resilient and more efficient,
with lower carbon and less impact on the environment. The company
will continue to build on its fit-for-basin approach, developing
bespoke and custom technologies tailored for the regions and
environments in which they operate. Through the continued growth of
digitally enabled technologies that improve efficiency and
performance, its Transition Technologies portfolio and its SEES
methane elimination business, SLB will provide solutions that
enable its customers to increase production from their reserves at
a competitive cost and low carbon intensity per barrel
equivalent.
“Our new identity boldly symbolizes our ambition to accelerate
the energy transition with sustainability at the center of
everything we do,” said Dr. Katharina Beumelburg, chief strategy
and sustainability officer, SLB. “Our new brand and strategy are
built for this moment in our history. A moment that demands the
need for a balanced energy system for our planet and the need to
achieve and go beyond net zero to address the climate challenge.
Everything we have chosen, from the shape of the logo to our new,
bright blue color, symbolizes the boldness of our ambitions and
ingenuity of our team to make the new energy future a reality. ’For
a balanced planet’ is more than just our new tagline. It’s central
to our purpose and our culture. It takes the incredible history of
this world-class company, enhances it and moves it forward toward a
more sustainable and net zero future.”
About SLB
SLB (NYSE: SLB) is a global technology company that drives
energy innovation for a balanced planet. With a global footprint in
more than 100 countries and employees representing almost twice as
many nationalities, we work each day to decarbonize oil and gas and
develop scalable new energy technologies to accelerate the energy
transition. Find out more at slb.com.
Access the SLB Media Kit
here.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the U.S. federal securities laws — that is,
statements about the future, not about past events. Such statements
often contain words such as “expect,” “may,” “can,” “estimate,”
“intend,” “anticipate,” “will,” “potential,” “projected" and other
similar words. Forward-looking statements address matters that are,
to varying degrees, uncertain, such as statements about our
financial and performance targets and other forecasts or
expectations regarding, or dependent on, our business outlook;
growth for SLB as a whole and for each of its Divisions (and for
specified business lines, geographic areas, or technologies within
each Division); oil and natural gas demand and production growth;
oil and natural gas prices; forecasts or expectations regarding
energy transition and global climate change; improvements in
operating procedures and technology; and our business strategies,
including digital and “fit for basin,” as well as the strategies of
our customers. These statements are subject to risks and
uncertainties, including, but not limited to, the inability to
achieve financial and performance targets and other forecasts and
expectations; the inability to achieve net-negative carbon
emissions goals; the inability to recognize intended benefits of
our partnerships; legislative and regulatory initiatives addressing
environmental concerns, including initiatives addressing the impact
of global climate change; and other risks and uncertainties
detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with
or furnished to the U.S. 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
underlying assumptions prove incorrect, actual outcomes may vary
materially from those reflected in our forward-looking statements.
The forward-looking statements speak only as of the date of this
press release, SLB disclaims any intention or obligation to update
publicly or revise such statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20221023005093/en/
Media Josh Byerly, Vice President of Communications Moira
Duff, Director of External Communications Tel: +1 (713) 375-3407
media@slb.com
Investors Ndubuisi Maduemezia, Vice President of Investor
Relations Joy V. Domingo, Director of Investor Relations Tel: +1
(713) 375-3535 investor-relations@slb.com
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