SCHLUMBERGER COMMEMORATES 25TH ANNIVERSARY OF OPERATIONS IN CHINA

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SCHLUMBERGER COMMEMORATES 25TH ANNIVERSARY OF OPERATIONS IN CHINA
21 December 2005 - Schlumberger

Schlumberger recently marked 25 years of continuous operation between the three Chinese major resource holders, namely PetroChina, Sinopec and CNOOC, and Schlumberger with a celebration that was attended by executives and representatives from both the customers and Schlumberger.

"We are grateful to our customers for their support, friendship and trust extended to Schlumberger over the years," said Imran Kizilbash, Middle East & Asia, president, Schlumberger. "We are committed to bringing innovative technologies to the Chinese oil and gas market for years to come."

The first Schlumberger wireline log was run on August 30, 1980, in well Ren-28 in Renqiu (now Huabei) oilfield, thus opening an era of remarkable cooperation between the exploration and production industry in China and Schlumberger.

"This event marks a major milestone in our operations in applying Schlumberger technology to meet the E&P challenges in China," said Lim Chin Leong, vice president & general manager, North Asia, Schlumberger.

To mark the occasion, Schlumberger, PetroChina, Sinopec and CNOOC organized a technical paper contest. Special contribution awards were also presented to those who have made outstanding contributions to promoting cooperation between the Chinese E&P industry and Schlumberger.

Approximately 500 people are employed in various Schlumberger locations in China and over 80 percent of these employees are Chinese nationals. In 2000, Schlumberger established the Beijing GeoScience Center, in the Tsinghua Science Park in Beijing, to develop formation evaluation software focusing on the specific petrophysical and geomechanical challenges of the Chinese oilfields.

Currently, Schlumberger has five operating bases in Korla, Karamay, Tanggu, Chengdu, and Shekou and two supporting offices in Beijing and Urumqi that provide comprehensive oilfield services to China's oilfields both on land and offshore.

Schlumberger has strongly maintained the principles that guided its history in China by pioneering the introduction of value-adding technologies; delivering best in class products and services, training, and development of our Chinese employees both in China and outside the country; and pursuing excellence in quality, health, safety, and the environment.

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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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