Highlights
Invested $505 million in R&D in 2005. Acquired full ownership of seismic surveying firm, WesternGeco, in 2006. Moving its Ridgefield, Connecticut, R&D operations to a new facility in Boston in 2006.
Schlumberger is a global oilfield and information services company, whose primary competitor is Halliburton. The company operates via two primary business divisions: Schlumberger Oilfield Services which provides technology, project management and information solutions to the international petroleum industry; and WesternGeco. The company sold its SchlumbergerSema business (which offered IT consulting, systems integration, and network and infrastructure services) in early 2004. The company acquired Baker Hughes' 30% stake in WesternGeco in 2006 for $2.4 billion. In 2007 Schlumberger acquired seismic surveying firm Eastern Echo Holdings for $679 million.