Schlumberger Limited (SLB): Análise de Pestle [Jan-2025 Atualizado]

No mundo dinâmico dos Serviços Globais de Energia, a Schlumberger Limited (SLB) permanece como uma potência tecnológica complexa, navegando em uma intrincada paisagem de desafios geopolíticos, incertezas econômicas e mudanças tecnológicas transformadoras. Essa análise abrangente de pestles revela os fatores externos multifacetados que moldam a trajetória estratégica da empresa, revelando como uma gigante líder de serviços de campo petrolífero deve se adaptar constantemente ao pressões políticas, econômicas, sociológicas, tecnológicas, legais e ambientais que definem o ecossistema moderno de energia.

Schlumberger Limited (SLB) - Análise de pilão: Fatores políticos

Regiões operacionais geopoliticamente complexas

A Schlumberger opera em 120 países com presença significativa em regiões politicamente sensíveis. A partir de 2024, a empresa mantém operações em:

Região	Nível de risco político	Projetos ativos
Médio Oriente	Alto	37 projetos ativos
Rússia	Extremo	12 projetos ativos
Venezuela	Crítico	5 projetos ativos
Nigéria	Alto	16 projetos ativos

As sanções internacionais impactam

Schlumberger enfrenta desafios significativos das sanções internacionais, particularmente em:

• Rússia: Impactado por Sanções dos EUA e da UE desde 2022
• Irã: sanções econômicas abrangentes em andamento
• Venezuela: Continuação dos EUA Restrições Econômicas

Gerenciamento de relacionamento do governo

A estratégia de engajamento do governo de Schlumberger envolve negociações complexas nos principais mercados:

País	Valor do contrato do governo	Duração do contrato
Arábia Saudita	US $ 1,2 bilhão	5 anos
México	US $ 780 milhões	3 anos
Brasil	US $ 650 milhões	4 anos

Exposição à instabilidade política

Avaliação de risco político para os principais países produtores de petróleo:

• Venezuela: Instabilidade política Classificação de risco 8.7/10
• Líbia: Índice de Volatilidade Política 9.2/10
• Iraque: pontuação de risco geopolítico 7,5/10

Desafios de conformidade regulatória

Custos de conformidade regulatória em 2024: US $ 214 milhões

Os requisitos de conformidade abrangem várias jurisdições, incluindo regulamentos ambientais, restrições comerciais e leis de conteúdo local.

Schlumberger Limited (SLB) - Análise de pilão: Fatores econômicos

Flutuações globais de preços de petróleo e gás

Receita de Schlumberger para 2023: US $ 61,56 bilhões, com correlação direta com os preços globais do petróleo. Preço médio do petróleo de Brent em 2023: US $ 81,50 por barril.

Ano	Faixa de preço do petróleo	Impacto de receita SLB
2023	$ 70- $ 90/barril	US $ 61,56 bilhões
2022	$ 80- $ 120/barril	US $ 59,99 bilhões

Ciclos de investimento do setor energético

Investimentos globais de petróleo e gás a montante em 2023: US $ 528 bilhões. Participação de mercado internacional de Schlumberger: aproximadamente 19%.

Categoria de investimento	2023 gastos	Crescimento projetado 2024
Investimentos a montante	US $ 528 bilhões	3.5%
Orçamento de exploração	US $ 156 bilhões	2.8%

Impacto no crescimento econômico global

Previsão da demanda global de energia da Agência Internacional de Energia para 2024: 101,7 milhões de barris por dia. Receita de Operações Internacionais da SLB: US $ 37,2 bilhões em 2023.

Desafios de transição de energia renovável

Investimentos de energia renovável em 2023: US $ 495 bilhões globalmente. Investimentos de tecnologia de energia limpa da Schlumberger: US $ 1,2 bilhão.

Métrica de transição de energia	2023 valor	2024 Projeção
Investimentos renováveis ​​globais	US $ 495 bilhões	US $ 540 bilhões
SLB Investimento de Tecnologia Limpa	US $ 1,2 bilhão	US $ 1,5 bilhão

Schlumberger Limited (SLB) - Análise de pilão: Fatores sociais

Desafios de diversidade da força de trabalho no setor de energia tradicional dominado por homens

Em 2023, a força de trabalho global de Schlumberger compreendia 107.000 funcionários em 160 países. A representação feminina na empresa ficou em 16,4% da força de trabalho total, com 6,2% em posições de liderança.

Categoria de força de trabalho	Percentagem	Número total
Total de funcionários	100%	107,000
Funcionários do sexo feminino	16.4%	17,548
Liderança feminina	6.2%	663

Ênfase crescente na segurança no local de trabalho e no bem-estar dos funcionários

Em 2022, Schlumberger relatou uma taxa total de incidentes registrados (TRIR) de 0,32 por 200.000 horas de trabalho, significativamente abaixo da média da indústria de 0,75.

Métrica de segurança	2022 Performance
Taxa de incidente total recordável	0,32 por 200.000 horas de trabalho
TRIR médio da indústria	0,75 por 200.000 horas de trabalho

Crescente demanda por práticas corporativas sustentáveis ​​e socialmente responsáveis

A Schlumberger investiu US $ 570 milhões em tecnologias de baixo carbono e iniciativas de sustentabilidade em 2022, representando 4,3% do total de despesas de P&D.

Investimento de sustentabilidade	Quantia	Porcentagem de P&D
Tecnologias de baixo carbono	US $ 570 milhões	4.3%

Atração e retenção de talentos em campos tecnológicos competitivos

O investimento anual de treinamento de funcionários da Schlumberger atingiu US $ 186 milhões em 2022, com uma média de 48 horas de treinamento por funcionário.

Métrica de treinamento	2022 dados
Investimento total de treinamento	US $ 186 milhões
Horário médio de treinamento por funcionário	48 horas

Schlumberger Limited (SLB) - Análise de pilão: Fatores tecnológicos

Líder em campos de petróleo digital avançado e tecnologias de análise de dados

A Schlumberger investiu US $ 1,33 bilhão em P&D em 2023, representando 4,5% da receita total. A Digital Technology Solutions gerou US $ 6,2 bilhões em receita para a empresa em 2023.

Categoria de tecnologia	Valor do investimento	Impacto de receita
Tecnologias digitais de campo petrolífero	US $ 482 milhões	US $ 2,7 bilhões
Soluções de análise de dados	US $ 356 milhões	US $ 1,9 bilhão
Infraestrutura de computação em nuvem	US $ 214 milhões	US $ 1,6 bilhão

Investimento significativo em soluções de inteligência artificial e aprendizado de máquina

A Schlumberger alocou US $ 412 milhões especificamente para pesquisas de IA e aprendizado de máquina em 2023. A empresa atualmente possui 287 patentes ativas relacionadas à IA.

Aplicação da IA	Número de projetos ativos	Economia anual estimada
Manutenção preditiva	46	US $ 124 milhões
Modelagem do reservatório	38	US $ 93 milhões
Otimização de perfuração	52	US $ 167 milhões

Desenvolvendo tecnologias de exploração e produção de ponta

A Schlumberger possui 672 projetos de desenvolvimento de tecnologia ativa nos setores de exploração e produção. O portfólio de tecnologia inclui 1.243 patentes tecnológicas ativas.

Segmento de tecnologia	Projetos ativos	Contagem de patentes
Imagem do subsolo	124	276
Tecnologias de perfuração	203	412
Aprimoramento da produção	345	555

Com foco em transformação digital e soluções inovadoras de engenharia

A Schlumberger comprometeu US $ 672 milhões a iniciativas de transformação digital em 2023. A empresa implantou 3.214 soluções de engenharia digital em 47 países.

Área de transformação digital	Investimento	Implantação global
Migração em nuvem	US $ 214 milhões	1.087 soluções
Sistemas de automação	US $ 268 milhões	1.456 soluções
Monitoramento remoto	US $ 190 milhões	671 soluções

Schlumberger Limited (SLB) - Análise de pilão: Fatores legais

Conformidade regulatória complexa em várias jurisdições internacionais

A Schlumberger opera em 120 países, exigindo conformidade com diversas estruturas legais. A partir de 2024, a empresa gerencia os requisitos legais em várias jurisdições com complexidade regulatória significativa.

Região	Número de estruturas de conformidade legal ativa	Despesas de conformidade anual estimadas
América do Norte	37 estruturas regulatórias	US $ 128,5 milhões
Médio Oriente	22 estruturas regulatórias	US $ 93,7 milhões
Europa	28 estruturas regulatórias	US $ 112,3 milhões
Ásia-Pacífico	25 estruturas regulatórias	US $ 86,9 milhões

Gerenciando desafios de regulamentação ambiental e de segurança

Métricas de conformidade da regulamentação ambiental:

• 2024 Investimento de segurança ambiental: US $ 342 milhões
• Taxa de redução de violação regulatória: 14,6%
• Taxa de aprovação de auditoria de conformidade de segurança: 92,3%

Riscos legais potenciais de operações internacionais e incidentes ambientais

Categoria de risco	Potencial exposição financeira	Orçamento de mitigação
Litígios ambientais	US $ 215 milhões	US $ 87,6 milhões
Penalidades de conformidade operacional	US $ 76,4 milhões	US $ 42,3 milhões
Disputas contratuais internacionais	US $ 129,7 milhões	US $ 55,2 milhões

Navegação de proteção de propriedade intelectual em inovações tecnológicas

Portfólio de propriedade intelectual:

• Total de patentes ativas: 4.237
• Despesas de arquivamento de patentes em 2024: US $ 63,5 milhões
• Orçamento de defesa de litígios da propriedade intelectual: US $ 22,8 milhões

Categoria de patentes	Número de patentes	Setor de tecnologia
Tecnologias de perfuração	1.342 patentes	Equipamento de exploração
Imagem do subsolo	987 patentes	Análise geofísica
Soluções digitais de campo petrolífero	763 patentes	Análise de dados
Aprimoramento da produção	1.145 patentes	Gerenciamento do reservatório

Schlumberger Limited (SLB) - Análise de Pestle: Fatores Ambientais

Comprometido em reduzir a pegada de carbono e as emissões de gases de efeito estufa

Schlumberger pretende reduzir o escopo 1 e 2 emissões de gases de efeito estufa por 30% até 2025 de uma linha de base de 2016. Em 2022, a empresa relatou emissões totais de gases de efeito estufa de 4,3 milhões de toneladas métricas de CO2 equivalente.

Tipo de emissão	2022 emissões (toneladas métricas)	Alvo de redução
Escopo 1 emissões	3,1 milhões	Redução de 25% até 2025
Escopo 2 emissões	1,2 milhão	Redução de 35% até 2025

Investindo em tecnologias de energia de baixo carbono e renovável

Schlumberger investiu US $ 137 milhões em tecnologias de baixo carbono em 2022. A empresa desenvolveu novas soluções de energia com um segmentação por portfólio US $ 1 bilhão em receita até 2025.

Área de tecnologia	Valor do investimento (2022)	Meta de receita
Energia geotérmica	US $ 42 milhões	US $ 350 milhões até 2025
Captura de carbono	US $ 65 milhões	US $ 400 milhões até 2025
Tecnologias de Hidrogênio	US $ 30 milhões	US $ 250 milhões até 2025

Abordando a sustentabilidade ambiental em setores de energia tradicionais

Schlumberger implementou Estratégias de eletrificação Nas operações de perfuração, reduzindo o consumo de diesel em 18% em 2022.

Iniciativa de Sustentabilidade	2022 Impacto	Economia projetada
Eletrificação da plataforma	Redução de 18% a diesel	Redução de 25% até 2025
Uso de energia renovável	12% da energia total	20% até 2025

Desenvolvendo tecnologias para estratégias de captura de carbono e redução de emissões

Schlumberger desenvolveu tecnologias de captura de carbono com as capacidades atuais do projeto de 50 milhões de toneladas métricas por ano. A empresa possui projetos ativos de captura e armazenamento de carbono em 7 países.

Projeto de captura de carbono	Capacidade de captura (toneladas métricas/ano)	Locais geográficos
Captura industrial de carbono	30 milhões	Estados Unidos, Noruega
Recuperação aprimorada de óleo	20 milhões	Oriente Médio, América do Norte

Schlumberger Limited (SLB) - PESTLE Analysis: Social factors

The social landscape for Schlumberger Limited (SLB) in 2025 is defined by a critical balancing act: attracting next-generation digital talent while navigating the public's accelerating shift away from fossil fuels. This dynamic creates both an acute talent constraint and a strategic imperative to amplify the company's energy transition narrative to protect brand equity.

Intense competition for highly-skilled digital and engineering talent is a major constraint.

SLB is fundamentally a technology company, and its strategic pivot relies heavily on its Digital & Integration division, which generates roughly an estimated US$3 billion of annual revenue with targeted EBITDA margins of about 35%. But the competition for the necessary software engineers, data scientists, and AI specialists is fierce, coming not just from traditional energy rivals but from high-growth tech firms.

The company is actively recruiting for roles in Digital Technology and Engineering and Manufacturing, but the overall challenge of talent attraction and retention remains a priority in a high-risk operational environment. To be fair, this is a global issue, but for an energy services firm, the competition for top-tier digital talent is defintely a headwind.

• Digital Revenue Target: Approximately US$3 billion annual revenue from SLB Digital.
• Digital Margin Target: Targeted EBITDA margins of about 35% for the digital business.
• Talent Focus: Recruiting for Digital Technology, Engineering, and Manufacturing internships.

Public perception shifts against fossil fuels pressure SLB's recruitment and brand equity.

The global energy transition narrative directly impacts SLB's ability to recruit young talent, as evidenced by the company's rebranding and mission focused on 'driving energy innovation for a balanced planet.' This perception shift is a real retention risk: one survey indicated that more than half (56%) of oil and gas workers expressed a desire to move to renewables jobs, with 43% planning to leave their current positions within five years.

SLB is countering this by positioning itself as a key enabler of decarbonization, with a commitment to achieving net zero emissions by 2050 and interim targets in 2025 and 2030. This clear commitment is a necessary defensive move to maintain brand relevance and appeal to a socially conscious workforce.

Focus on local content requirements in emerging markets to secure operating licenses.

Operating in over 100 countries means SLB must manage complex local content requirements (LCRs) to maintain its operating licenses and secure new contracts. These requirements mandate the use of domestically supplied goods and services, and the recruitment of local personnel.

In key markets like Saudi Arabia, this is a major strategic focus. The Saudi government's Local Content and Government Procurement Authority aims to raise local content in government procurement and projects from about 30% to nearly 50%. Furthermore, a major customer, Saudi Aramco, has an internal goal of achieving 70% local content across its procurement by 2025 through its iktva program. SLB's strategy is to not only comply with these regulatory and contractual requirements but to implement local content plans that support in-country supplier development and enhance regional technical capabilities.

Workforce safety and diversity initiatives are key to reducing operational risk.

In the high-risk environment of energy services, a strong safety culture and a diverse, inclusive workforce are direct mitigants to operational and reputational risk. SLB has a globally diverse workforce, with employees from 172 different nationalities.

The company is on track to meet its gender balance milestone of 25% women in salaried positions by 2025, having reached 24.6% at year-end 2023. Furthermore, women represent 30% of the executive leadership team. On the safety front, the focus has expanded to include psychological safety, recognizing that a culture where employees feel safe to speak up reduces overall operational risk.

Social Metric Category	2025 Target / Latest Data	Strategic Implication
Women in Salaried Workforce	On track for 25% by 2025 (was 24.6% at year-end 2023)	Mitigates talent shortage; improves innovation through diverse perspectives.
Executive Leadership Team (Women)	30% (as of year-end 2023)	Demonstrates commitment to gender parity at the highest level, boosting recruitment and brand equity.
Workforce Nationalities	Over 172 nationalities	Essential for local content compliance and global operational agility.
Key Customer Local Content Goal (Aramco)	70% procurement local content by 2025	Requires significant, ongoing investment in local supply chain development and in-country value programs.

Schlumberger Limited (SLB) - PESTLE Analysis: Technological factors

Significant R&D Investment Focuses on Digital Solutions

You need to see where Schlumberger Limited (SLB) is putting its money to understand its future competitive edge. The company is defintely prioritizing its shift toward software and low-carbon solutions, which is a smart move to decouple growth from volatile upstream spending. SLB's research and development (R&D) expenses for the twelve months ending September 30, 2025, stood at $714 million. This sustained investment is heavily channeled into digital and AI innovation, which is crucial for enhancing operational efficiency across the entire energy value chain.

This R&D focus isn't just about new tools; it's about fundamentally changing how exploration and production (E&P) gets done. It's a strategic pivot from a purely service-based model to a technology-licensing and software-as-a-service (SaaS) model, which carries a much more favorable margin profile.

Adoption of DELFI Cognitive E&P Environment is Accelerating Field-Level Efficiency Gains

The DELFI cognitive E&P environment is SLB's cloud-based platform that uses artificial intelligence (AI) and machine learning to integrate data and workflows across exploration, drilling, and production. This is how they deliver real, measurable efficiency gains to clients. The platform enables a single source of truth for all data, allowing for faster and more informed decisions.

The financial impact of this digital push is already significant. SLB's digital business is projected to reach around $3 billion in sales by the end of 2025. For perspective, the Digital & Integration division reported revenue of $1.01 billion in the first quarter of 2025 alone.

Here's the quick math on efficiency:

• One customer's subsurface team used AI-enhanced workflows to automatically create and simulate 200 model realizations in just one-sixth of the time it would have taken manually.
• The DrillPlan solution, part of DELFI, helped another client plan eight wells in the time it would normally take to plan one.

That kind of speed directly translates to reduced capital expenditure and faster time-to-production for operators.

Advancements in Carbon Capture, Utilization, and Storage (CCUS) Technology Offer New Revenue Streams

SLB is smartly positioning itself as a key player in the energy transition, which opens up new, high-growth revenue streams outside of traditional oilfield services. The company is a recognized leader in carbon management, deploying its CENOS™ line of capture technologies, which includes solvent, membrane, and storage integration.

The CCUS segment is no longer just a pilot program; it's a commercial business. The global CCUS market is projected to grow from $5.82 billion in 2025. SLB is actively participating, with over a dozen active CCUS projects across industrial sectors like oil, steel, and cement in 2025. Revenue from SLB's low-carbon portfolio, which includes CCUS, geothermal, critical minerals, and data center solutions, is expected to exceed $1 billion in 2025.

SLB's New Energy Revenue Target (2025)	Core CCUS Technology	Global Market Context (2025)
Expected to exceed $1 billion (CCUS, Geothermal, etc.)	CENOS™ line (Solvent, Membrane, Storage Integration)	Global CCUS Market projected at $5.82 billion

Automation of Drilling and Well Intervention Services Reduces Operational Costs

Automation is the clearest path to reducing non-productive time (NPT) and lowering the cost per barrel. SLB is a leader in this space, integrating AI and machine learning into drilling operations for real-time data analysis and optimized parameters.

The shift to autonomous systems directly addresses human error and operational consistency. For example, a successful autonomous drilling project with Equinor in May 2024 achieved a 60% increase in the rate of penetration (ROP), which means wells are drilled much faster and cheaper. In well intervention, the company introduced EWC™ electric well control technologies in Q1 2025, which replace traditional hydraulic systems. This new electric system is designed to reduce both capital and operating costs while simultaneously enhancing the safety of drilling operations.

The technology is already delivering unparalleled consistency in repetitive tasks, which is the key to unlocking the technical limit on every well.

Schlumberger Limited (SLB) - PESTLE Analysis: Legal factors

Strict adherence to international anti-bribery and corruption laws (e.g., FCPA) due to global footprint

Operating in over 120 countries means Schlumberger Limited faces constant, elevated risk from the U.S. Foreign Corrupt Practices Act (FCPA) and similar global anti-bribery laws. This isn't theoretical; it's a proven financial reality. For example, a Schlumberger subsidiary, Schlumberger Oilfield Holdings Ltd., previously agreed to a guilty plea and paid a criminal penalty of over $232,708,356 to the U.S. for conspiring to violate the International Emergency Economic Powers Act (IEEPA) by facilitating illegal trade with Iran and Sudan. More recently, a Houston-based subsidiary was fined approximately $1.4 million by the U.S. Treasury's Office of Foreign Assets Control (OFAC) in 2021 for selling goods to a sanctioned Russian-based energy firm.

The current enforcement environment, even with recent shifts in U.S. Department of Justice (DOJ) priorities, still demands proactive compliance. The key takeaway: you must invest in compliance to avoid catastrophic fines. The company's internal Ethics & Compliance Risk Map (ECRM) is a necessary tool here, measuring country-specific risk profiles to guide their Annual Compliance Plan (ACP).

• Risk: FCPA and sanctions violations carry fines exceeding $232 million.
• Action: Continual, real-time auditing of third-party agents and joint ventures.
• Reality: Whistleblower programs now offer rewards, increasing the likelihood of internal reports.

New EU and US methane emission regulations require specialized monitoring and abatement services

The convergence of U.S. Environmental Protection Agency (EPA) rules and the new European Union Methane Regulation (MER) creates a legal mandate for new services, which is a significant opportunity for Schlumberger. The EU's MER, which went into effect in August 2024, is particularly critical because it applies extraterritorially, forcing global oil and gas producers to monitor and report emissions for any product sold into the EU.

The initial reporting requirements for importers to quantify source-level methane emissions begin on August 5, 2025, establishing a baseline for future compliance. Full compliance, including equivalent monitoring, reporting, and verification (MRV) requirements, is mandated by January 1, 2027. Non-compliance is a serious threat to customers, with potential penalties of up to 20% of the importer's annual turnover. This is why Schlumberger's 'Methane and Flaring Elimination' and 'Emissions Reduction' solutions are defintely a growth engine.

The regulatory timeline is clear, creating a near-term market for specialized services:

Regulation Milestone	Date (Near-Term)	Impact on SLB's Customers
EU MER Importer Reporting Begins	August 5, 2025	Must submit reports on source-level methane emissions.
EU MER Full MRV Compliance	January 1, 2027	Oil and gas imports must demonstrate equivalent monitoring.
EU MER Methane Intensity Classes	By 2030	Imports will be judged and potentially restricted based on emission intensity.

Complex intellectual property (IP) disputes are common in the highly competitive services sector

The oilfield services business is built on proprietary technology, so constant, costly intellectual property (IP) litigation is just part of the cost of doing business. Schlumberger is both a plaintiff and a defendant, defending its patents and trade secrets against competitors and non-practicing entities (patent trolls). The financial stakes are huge.

For example, a Schlumberger subsidiary, WesternGeco LLC, was awarded a jury verdict that included a lost profits component of $93.4 million for overseas patent infringement by a competitor, ION Geophysical Corp. The fact that this case went all the way to the U.S. Supreme Court to determine the scope of damages for overseas infringement shows the high-value nature of these disputes. You must budget for continuous IP defense.

• IP litigation is a multi-million-dollar annual expense, not a one-off event.
• Trade secret lawsuits against former employees are common, as seen in the 2014 suit against a former Chief IP Counsel.
• The core legal risk is not just losing a case, but the injunctions that could halt the use of key technology, impacting revenue immediately.

Compliance with evolving data privacy laws for digital platform services (DELFI)

Schlumberger's digital platform, DELFI, is a cloud-based environment that processes vast amounts of sensitive, proprietary customer data, making it a target for global data privacy laws like the European Union's General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). This is a compliance sprawl problem, as over 79% of the global population is now covered by modern privacy laws as of 2024.

The company has taken clear steps to mitigate this risk, notably achieving SOC 2 Type 2 Accreditation for the DELFI platform. This third-party audit of security and availability is crucial for winning enterprise contracts, as it provides assurance that customer data is protected by audited security standards. Without this, enterprise deals would stall in procurement.

Here's the quick math on the risk: GDPR violations can cost up to €20 million or 4% of a company's global annual revenue, whichever is higher. For a company of Schlumberger's size, that 4% figure is a massive, unacceptable risk. The SOC 2 compliance is a preventative measure that helps secure both the data and the sales pipeline.

Schlumberger Limited (SLB) - PESTLE Analysis: Environmental factors

Commitment to reducing Scope 1 and 2 greenhouse gas emissions by 50% by 2030.

SLB is defintely serious about climate action, making its emissions targets a core part of its value proposition to customers and investors. The official commitment is a 50% absolute reduction in Scope 1 and 2 greenhouse gas (GHG) emissions by 2030, using a 2019 baseline of 1,818,000 Metric Tonnes of CO2 equivalent (mtCO2e). What's critical for 2025 is that SLB achieved its interim target of a 30% reduction ahead of schedule in 2024.

This progress is driven by a clear 'Record, Reduce, Replace' strategy, focusing on high-impact areas like facility operations and field fleet electrification. This isn't just a compliance exercise; it's a competitive edge, especially as major oil companies face their own stringent net-zero deadlines and prefer to work with service providers who can lower their Scope 3 emissions (the emissions from their value chain, which is SLB's customer base). SLB's Scope 3 emissions intensity, for example, was reduced by 18% from 2023 to 2024.

Increasing client demand for low-carbon intensity drilling and completion services.

We are seeing a tangible shift in client spending toward low-carbon solutions, and this is creating a lucrative, higher-margin revenue stream for SLB. The company's Transition Technologies™ portfolio-solutions designed to reduce customer emissions-is expanding rapidly. This is a direct market opportunity.

The clearest signal of this demand is the Q2 2025 earnings call data, which noted a 15% rise in greenfield project inquiries from utility and industrial clients specifically seeking low-carbon solutions. This includes technologies for eliminating routine flaring and for electrification of drilling operations. Simply put, customers are willing to pay a premium for a lower carbon barrel of oil.

SLB Decarbonization Metrics (2019 Baseline)	Target	2024 Status (Ahead of Schedule)	Impact
Scope 1 & 2 Emissions Reduction	50% by 2030	Achieved 30% reduction	Enhances operational efficiency; reduces regulatory risk.
Scope 3 Emissions Reduction	30% by 2030	Reduced intensity by 18% (2023-2024)	Directly addresses customer's Scope 1/2 emissions; a key differentiator.
Low-Carbon Project Inquiries (Q2 2025)	N/A (Growth Indicator)	15% year-on-year increase	Validates the business case for the Transition Technologies portfolio.

Water usage regulations in arid operating regions impose significant operational constraints.

Water is the new oil in arid operating regions like the Permian Basin, and regulatory constraints are tightening fast. This presents a major operational challenge for all oilfield service companies. Texas's Railroad Commission, for example, is imposing new limits on injection pressure and volume for saltwater disposal (SWD) wells to mitigate induced seismicity (earthquakes).

These new regulations, including Texas House Bill 49 which took effect in June 2025, are forcing a costly shift from cheap disposal to expensive treatment and reuse. Analysts project these new wastewater regulations in the Permian Basin alone will increase costs for oil producers by 20-30%. SLB's response is to offer advanced water management services, which is a new business opportunity, but the underlying regulatory risk remains. On the internal side, SLB's facilities reduced freshwater consumption by 9% in 2024 through targeted initiatives.

• New regulations cap injection pressure and volume in the Permian.
• Produced water volumes in the Permian exceeded 20 million barrels per day in 2024.
• Recycling costs are lower, at $0.15 to $0.20 per barrel, versus disposal at up to $2.50 per barrel.

Opportunities in geothermal and hydrogen projects through the New Energy division.

The New Energy division is SLB's long-term hedge against hydrocarbon volatility, leveraging the company's core subsurface expertise for non-oil and gas applications. The unit is targeting billion-dollar opportunities and aims to generate approximately $3 billion in revenue by the end of the decade.

Geothermal energy is a key focus, with SLB using its drilling and reservoir knowledge to tap into the Earth's heat. A recent partnership with Google Cloud and Project InnerSpace, announced in Q2 2025, is focused on accelerating the global adoption of geothermal energy solutions. In the hydrogen space, SLB is focused on developing low-carbon production and storage technologies. Plus, their sustainable lithium production technology, which uses direct lithium extraction, is a powerful example of tech transfer: it is 500 times faster than conventional methods and uses significantly less water.

Here's the quick math: If SLB maintains its current digital momentum, the higher-margin software and technology segments could grow to account for 15% of total operating income by the end of 2026. Still, geopolitical instability remains the single biggest wild card.

Next Step: Finance: Model the impact of a 10% oil price drop on the 2026 capital expenditure guidance by Friday.