Schlumberger becomes SLB, a technology company driving the future of energy

Houston— Schlumberger 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 leader focused on driving energy innovation for a balanced planet The transformation of technology companies. Starting today, Schlumberger’s legacy brand and nearly all of its affiliated brands will be a brand under the new SLB brand, which introduces a new visual identity, including the company’s new logo – which is what the company does today. A symbol of where you are and where you are heading.

Olivier Le Peuch, CEO of SLB, said: “Today, we face the world’s greatest balancing act – providing reliable, accessible and affordable energy to meet growing demand, while rapidly decarbonizing for sustainability future.” “This dual challenge requires a balance between energy affordability, energy security and sustainability. It requires a balance of innovation and decarbonization in the oil and gas industry and clean energy solutions. A balanced planet requires a balance energy mix. Our new identity symbolizes SLB’s commitment to go further and faster in meeting today’s world’s energy needs and forging a way forward for the energy transition. It’s a bold challenge. But our people, technology and performance Our legacy is unparalleled and we are ready to meet this challenge.”

brand evolution

The SLB brand is built on nearly a century of technological innovation and industrialization expertise in the energy services industry. The company has laid the foundation for a growing focus on low- and zero-carbon energy technology solutions over the past three years, while continuing to drive innovation, decarbonization and performance in the oil and gas industry:

  • In 2020, SLB launched a new energy business to explore partnerships and opportunities for low carbon and carbon neutral technologies. This starts the company on a years-long journey to expand its role in the new energy future by developing new technologies and partnerships.
  • In 2021, SLB became the first company in the energy services industry to commit to a net-zero goal, which includes total Scope 3 emissions from the use of its technology.
  • To deliver on this commitment, SLB has launched the Transition Technologies™ portfolio of quantifiable, science-based emission reduction benefits.An example is SLB’s zero-burn well testing and cleanup technology, which customers have used to reduce up to 80,000 tons of CO22 Emissions – equivalent to taking nearly 18,000 cars off the road for a year.
  • Earlier this year, the company announced the launch of SLB End-to-End Emissions Solutions (SEES), a business dedicated to eliminating methane emissions from oil and gas operations.Methane is an important industrial target because it has 84 times the warming effect of carbon dioxide2 Over 20 years and 28 times in a century. SLB recently joined the Oil & Gas Climate Initiative’s Aiming for Zero Methane Initiative to support energy companies’ efforts to curb the climate-warming impact of methane emissions from their operations.

Load Balancing Today

With this advancement, and with its brand promise to drive energy innovation for a balanced planet, SLB will focus on delivering results-driven solutions to its clients in four areas:

  • New energy system——SLB is focused on creating and expanding the new energy systems of the future. As the new energy business develops into a strategic driver for the company, SLB will continue to build partnerships across industries to develop technologies in five areas: carbon solutions, hydrogen, geothermal and geoenergy, energy storage and critical minerals.This includes the company’s Celsius vitality business, reducing the carbon footprint of buildings by harvesting energy from the earth, and Genvia, a clean hydrogen technology company in a public-private partnership with French renewable energy research agency CEA and other partners.
  • Industrial decarbonization –Reducing emissions, especially from hard-to-abate industries, is critical to achieving net-zero emissions targets. SLB is already working hard to make an impact in this area.Last month, it announced plans Develop a digital sustainability platform This will provide sustainable solutions for hard-to-reduce industrial sectors. SLB is also focused on expanding technologies and opportunities for carbon capture, utilization and storage (CCUS), one of the most important levers for decarbonizing multiple industries.
  • Mass digitization—Digital capabilities across the energy industry continue to grow and have become a key performance and efficiency driver. SLB clients will be able to use the company’s digital products and services to help achieve their sustainability goals through increased transparency, better measurement, more effective planning and more impactful results with integrity. SLB recently announced a commercial release of its enterprise data solution that helps accelerate advanced workflows. This latest innovation is built on the emerging requirements of the OSDU™ technology standard, an open industry standard for energy data.
  • Oil and Gas Innovation——Building on its decades of technological advancement, SLB will continue to innovate new products, services and technologies to make the exploration and development of oil and gas properties cleaner, more resilient, more efficient, with lower carbon emissions and environmental impact smaller. The company will continue to develop bespoke and tailored technologies for the region and environment in which it operates, based on its basin-appropriate approach. Through continued development of digital technologies that improve efficiency and performance, its transition technology portfolio and SEES methane elimination business, SLB will provide solutions that enable customers to extract energy from their reserves at competitive cost and low carbon intensity per barrel equivalent increase output.

“Our new identity boldly embodies our ambition to accelerate the energy transition with sustainability at the centre,” said Dr. Katharina Beumelburg, Chief Strategy and Sustainability Officer, SLB. “Our new brand and strategy is built for this moment in our history. This moment requires our planet to have a balanced energy system that needs to achieve and move beyond net zero to meet the climate challenge. Everything we choose, from the logo The shape to our new bright blue symbolizes our ambition and the creativity of our team to make a new energy future a reality. “For a Balanced Planet” isn’t just our new tagline. It’s our purpose and culture at the heart of it. It takes the incredible history of this world-class company, improves it, and drives it towards a more sustainable and net-zero future.”

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