Schlumberger Issues Venezuela Update

31.03.2013  |  Business Wire

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 PDVSA ?and
we ?anticipate 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.