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Wednesday, April 25, 2012

Schlumberger Acquires GEDCO

Specialized geophysical survey design services and software for the oil and gas industry added to portfolio

HOUSTON, April 25, 2012 – Schlumberger announced today that it has acquired GEDCO, a Calgary-based provider of integrated geophysical survey design software and services. The group will become part of the WesternGeco business unit.

GEDCO has developed OMNI 3D*, the industry’s standard for seismic survey design and modeling, and VISTA*, a flexible 2D/3D seismic data processing package. The group also offers consulting services for 2D and 3D seismic and vertical seismic profile (VSP) solutions from design through interpretation.

“The addition of GEDCO will enable us to better support our clients through the entire exploration and production cycle by complementing and extending our proven geophysical survey design and modeling capabilities,” said Maurice Nessim, vice president, WesternGeco GeoSolutions.

“This transaction is recognition of GEDCO’s success in developing innovative geophysical technologies and workflows,” said Andreas Cordsen, president and CEO, GEDCO. “With the added strength of the WesternGeco research and development program, integration into their portfolio of software and services, and increased access to international markets, the GEDCO team is looking forward to joining WesternGeco and continuing to deliver leading geophysical software solutions to our clients worldwide.”

As the industry explores for oil and gas in increasingly complex geological environments with higher risks and ever increasing time pressure, survey design and modeling becomes even more critical to success.

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 more than 113,000 people representing over 140 nationalities and working in approximately 85 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 $39.54 billion in 2011. For more information, visit www.slb.com.

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*Mark of Schlumberger

For further information, contact:

Susan Ganz

Media Relations Manager

Schlumberger

Tel:+1 713 689 7142

sganz1@slb.com



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