SLB Schlumberger Ltd

Schlumberger Limited (NYSE:SLB) announced today that it has acquired Odegaard A/S, the Copenhagen-based supplier of advanced surface seismic data inversion software. Odegaard, which will become part of WesternGeco, specializes in applications of seismic data to determine rock parameters critical to better reservoir characterization and improved oil and gas recovery. "Odegaard is highly respected in the industry," said Dalton Boutte, president, WesternGeco. "By combining their technical expertise with our high-resolution Q-Technology(a), we will be able to extend the value of seismic data in reservoir characterization and production management." As world demand for hydrocarbons grows, the need to link seismic data and reservoir properties more closely is becoming increasingly stronger. The combination of surface seismic data with key Schlumberger petrophysical and electromagnetic measurement technologies, and their integration with workflow processes, will lead to reduced reservoir uncertainties particularly in the smaller and more complex reservoir targets of the future. Odegaard inversion expertise will form a key part of this integration. "This is a significant step for our employees and our customers," said Kim Gunn Maver, managing director, Odegaard. "As part of the WesternGeco Reservoir Seismic Services group, our geoscientists can leverage the industry's leading seismic technology as well as substantial R&D resources to further develop advanced reservoir solutions." About Schlumberger Schlumberger is the world's leading oilfield services company supplying technology, information solutions and integrated project management that optimize reservoir performance for customers working in the oil and gas industry. The company employs more than 64,000 people of over 140 nationalities working in more than 80 countries. Schlumberger supplies a wide range of products and services from seismic acquisition and processing; formation evaluation; well testing and directional drilling to well cementing and stimulation; artificial lift and well completions; and consulting, software and information management. In 2005, Schlumberger operating revenue was $14.31 billion. For more information, visit www.slb.com. (a)Mark of Schlumberger