FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Martellozo Gerard

2. Date of Event Requiring Statement (MM/DD/YYYY)
6/1/2014 

3. Issuer Name and Ticker or Trading Symbol

SCHLUMBERGER LTD /NV/ [SLB]

(Last)        (First)        (Middle)

5599 SAN FELIPE, 17TH FLOOR

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                            _____ 10% Owner
_____ Officer (give title below)          _____ Other (specify below)
Vice President Human Resources /

(Street)

HOUSTON, TX 77056       

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed (MM/DD/YYYY)

 

6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person


Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4) 		2. Amount of Securities Beneficially Owned
(Instr. 4) 		3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) 		4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock, $0.01 par value per share   30000   D    
Common Stock, $0.01 par value per share   5000   I   By son  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4) 		2. Date Exercisable and Expiration Date
(MM/DD/YYYY) 		3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) 		4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) 		6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
NQ Stock Option (right to buy) w/ tandem Tax w/h right   1/17/2012   (1) 1/17/2018   Common Stock, $0.01 par value per share   5000   $84.93   D    
NQ Stock Option (right to buy) w/ tandem Tax w/h right   1/21/2014   (2) 1/21/2020   Common Stock, $0.01 par value per share   10000   $68.505   D    
NQ Stock Option (right to buy) w/ tandem Tax w/h right   1/20/2012   (3) 1/20/2021   Common Stock, $0.01 par value per share   9040   $83.885   D    
Incentive Stock Option (right to buy)   1/20/2012   (3) 1/20/2021   Common Stock, $0.01 par value per share   5960   $83.885   D    
Incentive Stock Option (right to buy)   1/19/2013   (4) 1/19/2022   Common Stock, $0.01 par value per share   1386   $72.11   D    
NQ Stock Option (right to buy) w/ tandem Tax w/h right   1/19/2013   (4) 1/19/2022   Common Stock, $0.01 par value per share   13614   $72.11   D    
NQ Stock Option (right to buy) w/ tandem Tax w/h right   4/18/2014   (5) 4/18/2023   Common Stock, $0.01 par value per share   13591   $70.925   D    
Incentive Stock Option (right to buy)   4/18/2014   (6) 4/18/2023   Common Stock, $0.01 par value per share   1409   $70.925   D    
Incentive Stock Option (right to buy)   4/16/2015   (7) 4/16/2024   Common Stock, $0.01 par value per share   994   $100.555   D    
NQ Stock Option (right to buy) w/ tandem Tax w/h right   4/16/2015   (7) 4/16/2024   Common Stock, $0.01 par value per share   14006   $100.555   D    

Explanation of Responses:
( 1)  Subject to 4-year cliff vesting and became fully exercisable on January 17, 2012.
( 2)  Subject to 4-year cliff vesting and became fully exercisable on January 21, 2014.
( 3)  Became exercisable in five equal annual installments beginning January 20, 2012.
( 4)  Became exercisable in five equal annual installments beginning January 19, 2013.
( 5)  Became exercisable in five equal annual installments beginning April 18, 2014.
( 6)  Became exercisable in five equal annual installments beginning April 18, 2014.
( 7)  Becomes exercisable in five equal annual installments beginning April 16, 2015.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Martellozo Gerard
5599 SAN FELIPE, 17TH FLOOR
HOUSTON, TX 77056

Vice President Human Resources

Signatures
Saul R. Laureles, Attorney-in-Fact 6/3/2014
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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