Management succession at Schlumberger

Andrew Gould will continue to serve as Chairman of the Board until the annual general meeting of the company’s stockholders in April 2012. It is the Board’s intention that its directors will select the current independent lead director, Tony Isaac, to be the new non-executive Chairman upon Gould’s departure.

Andrew Gould will be succeeded as Chief Executive Officer by Paal Kibsgaard, Chief Operating Officer of Schlumberger Limited. During more than 14 years of employment with the company, Paal Kibsgaard has held operational and management responsibility in the Middle East, Europe and the U.S., and has been involved in all aspects of the company’s operations. Prior to his appointment as Chief Operating Officer, Paal Kibsgaard served as President of the Reservoir Characterization Group after assignments as Vice President, Engineering, Manufacturing and Sustaining; and Vice President of Personnel following a series of earlier international positions.