70 YEARS OF SERVICE IN ECUADOR FOR SCHLUMBERGER

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70 YEARS OF SERVICE IN ECUADOR FOR SCHLUMBERGER
16 November 2004 - Schlumberger

Schlumberger Oilfield Services today marked 70 years of continuous service in Ecuador with a celebration held in Quito. The first Schlumberger log was run on November 6-7, 1934, in the Anglo-Ecuadorian Oilfield Ltd.'s (AEO) Ancón field Well No. 317 on the Santa Elena Peninsula near the Pacific coast. Schlumberger now operates from its main office in Quito and support facilities in Coca and Lago Agrio.

'We are pleased to have had the opportunity to provide services to our customers in Ecuador for the last 70 years. Schlumberger continues to invest in Ecuador as part of our long-term commitment to the future of the petroleum industry here,' said Carlos Aviles, general manager, Ecuador, Schlumberger Oilfield Services. 'The keys to our future success are our people, our technology, and our commitment to quality, safety, and protecting the environment in which we work.'

Schlumberger recently completed a major $750,000 USD upgrade to the Lago Agrio facilities where reservoir evaluation, testing, and directional drilling services are based. Cementing, coiled tubing, sand control, and stimulation services are provided from a separate facility in Lago Agrio. The facility in Coca is the service operations center for electric submersible pumps and completions. Schlumberger is presently performing a $5 million upgrade of this facility, which will include a new manufacturing and maintenance facility as well as accommodations for employees.

Approximately 500 people are employed at the various Schlumberger facilities in Ecuador, representing a diverse group of 27 nationalities. More than 85% of the employees are Ecuadorian nationals.

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About: Schlumberger
Schlumberger is the world's leading oilfield services company supplying technology, project management and information solutions that optimize performance for customers working in the oil and gas industry. The company employs more than 52,000 people of over 140 nationalities working in more than 80 countries, and comprises two business segments.

Schlumberger supplies a wide range of products and services from formation evaluation through directional drilling, well cementing and stimulation, well completions and productivity to consulting, software, information management and IT infrastructure services that support core industry operational processes. WesternGeco, jointly owned with Baker Hughes, is the world's largest seismic company and provides advanced acquisition and data processing services.

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