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Olivier Le Peuch Chief Executive Officer

Message From the CEO

Schlumberger prides itself on its rich history of technology leadership paired with social and environmental responsibility.

Sustainability is not only expected by our global society, it is fundamental to business success and future independence. Global Stewardship is visible in everything we do—driven by our core values of People, Technology and Profit.

Long before we began producing this Global Stewardship Report, the people of Schlumberger were taking actions to positively impact environmental, social and governance (ESG) issues. To our innovators who deliver problem-solving technology, ESG is not a separate realm of work we do from time to time, it is relevant to all aspects of our business. Our culture is built on excellence and leadership, and our focus on Global Stewardship drives pride in our workforce and differentiation for us in our industry.

At the same time, stakeholders’ evolving perspectives—particularly on climate change—now mean that for any company, having no ESG program is untenable. Simply having a program, however, does not make a leader. That is why Schlumberger continues to accelerate our stewardship efforts, which extend well beyond our own operations—while continuing to work to reduce our environmental footprint and strengthen our social impact in the communities where we live and work.

As a leader in oilfield services, we are always aligned with our customers’ needs as they move toward meeting their own ESG objectives. To address increasing environmental pressures, however, our unrivaled geographic reach together with our culture of meeting challenges with technology are insufficient. But when combined with our stewardship strategy, these qualities uniquely position us to lead. We continue to expand our portfolio of technologies that help reduce environmental footprint, whether that takes the form of hardware that decreases waste, processes that reduce water or power consumption, or software that uses data to find the optimal wellsite designs to lower emissions and resource use.

We are committed to increasing the adoption of these technologies and demonstrating to stakeholders the possibilities of reduced environmental impacts by modeling E&P operations with the Stewardship Tool. Yet technology is only one aspect of our holistic ESG approach. Foundational to our focus on sustainability is the continued safety of our people, our commitment to working ethically, and our programs focused on enhancing the well-being of our communities.

Our 2018 Global Stewardship initiatives centered on prioritizing the United Nations Sustainable Development Goals we could most impact, identifying climate-related risks and opportunities to mitigate those risks in our operations, and building a framework to further increase the transparency of our supply chain. We continue extending our reach by collaborating with companies across industries, non-governmental organizations, and bilateral organizations. We recognize the importance of collaboration with other thought leaders to help drive change.

Investing in people remains core to our values—from the continued development of our workforce, to local hiring, to promoting science, technology, engineering, and math (STEM) education globally. In 2018, we proudly celebrated the 20th anniversary of our Schlumberger Excellence in Education Development (SEED) program, hosting over 18,000 students around the world in robotic, and computer science workshops to inspire the digital creators and innovators of the future. We granted an additional 50 fellowships in 2018 through our Faculty for the Future program—now in its 14th year— which has funded a total of 683 women from emerging and developing countries in their pursuit of advanced graduate studies. These women return to their home countries as powerful contributors and role models for their communities.

Looking to 2019, our priorities include finalizing our climate impact assessment and expanding our ESG ambitions in all the countries in which we operate. I am proud of our Global Stewardship program and I would like to recognize our people who drive these initiatives through their desire and dedication.

Olivier Le Peuch Chief Executive Officer

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