Schlumberger rebrands as SLB

Offshore staff

HOUSTON — Schlumberger has announced its new name—SLB, which it says is "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."

Effective today, the Schlumberger brand and nearly all of its affiliated brands will become one under the new SLB brand. The company also announced a new logo.

The company said it 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 business for eliminating methane emissions from oil and gas operations. 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 said it will focus on four areas:

• New energy systems: SLB is focusing on creating and scaling new energy systems. With its New Energy business, 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: SLB is working to make an impact in reducing emissions. Last month, the company 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).

• Digital at scale: SLB’s customers will be able to use the company’s digital products and services to help meet 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, an open industry standard for energy data.

• Oil and gas innovation: SLB said it 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.

 10.24.2022