There haven't been signs yet that the oil and gas industry has been negatively affected by the global economic crisis, the head of the world's largest oilfield services company said Tuesday.

"There are no signs of a slowdown, not yet," said Andrew Gould, chief executive of Schlumberger Ltd. (SLB). The oilfield services companies are considered an accurate barometer of the oil and gas industry's health given that their businesses tend to increase when producers raise their investment spending.

Separately, Gould said the company wouldn't be targeting any large scale acquisitions in the near term, though it would still look to smaller specialist firms if it was to make any purchases.

"We've done most of our acquisitions. We'll always acquire small technology companies, but I don't think after having done Smith and Geoservices last year we'll be doing any in the near future," said Gould. Schlumberger last year bought rival Smith International in an $11 billion all-stock deal, and energy services provider Geoservices for around $1 billion.

-By Alexis Flynn, Dow Jones Newswires; +44 207 842 9471; alexis.flynn@dowjones.com

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