Schlumberger Signs Agreement with Universidade Federal do Rio de Janeiro to Build Research Center

RIO DE JANEIRO, September 10, 2009 – Schlumberger announced today the signing of a joint cooperation agreement with the Universidade Federal do Rio de Janeiro (UFRJ) to build a key international research center on the university’s campus. The agreement marks the first research and geosciences center to be located at UFRJ Technology Park.

The Schlumberger Brazil Research and Geosciences Center (BRGC) will focus on research and development activities in the deep-water pre-salt environment, with emphasis on the development of geosciences software for the exploration and production sector; new technologies to meet reservoir challenges in pre-salt environments; and the creation of a geophysical processing and interpretation Center of Excellence covering time-lapse seismic and combined electromagnetic and seismic measurements.

Antoine Track, manager of the new center, commented, “Building the center on the university campus is critical for fostering a collaborative environment for knowledge sharing and for the development of technological solutions for local industry challenges.”

Brazil was selected as the site for the center due to the availability of highly skilled professionals from many recognized universities, the broad availability of high-tech suppliers and the challenging technological needs of pre-salt reservoirs. Cesar Jaime, president of Schlumberger Latin America explained that, “while we are hiring locally to meet the immediate staffing needs of the center, a proportion of the new hires will be sent to other Schlumberger research centers worldwide to gain valuable experience in similar environments. They will later be brought back to the country to strengthen our local scientific workforce.”

“Schlumberger has a history of fostering long-standing relationships with universities in Brazil in order to hire and train professionals in the local industry,” said Ana Zambelli, Schlumberger Brazil operations general manager. “This contract not only marks a milestone for our history in the country, but also our commitment to continue contributing to the development of the local oil and gas industry and its future.”

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 approximately 79,000 people representing over 140 nationalities and working in more than 80 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 $27.16 billion in 2008. For more information, visit www.SLB.com.

For further information, contact:

Patricia Marçolla
Schlumberger Latin America Communications Manager
+55 21 3541 7071
marcolla@slb.com