New identity focuses on energy innovation and decarbonization to address the world’s energy needs today and to forge the road ahead for the energy transition
HOUSTON, October 24, 2022—Schlumberger (NYSE: SLB) today announced its new name—SLB—underscoring the company’s vision for a decarbonized energy future and affirming its transformation from the world’s largest oilfield services company to a global technology company focused on driving energy innovation for a balanced planet. Beginning today, the legacy Schlumberger brand and nearly all of its affiliated brands will become one under the new SLB brand, which introduces a refreshed visual identity, including a new logo for the company—a symbol of where it is today and where it is heading.
“Today we face the world’s greatest balancing act—providing reliable, accessible and affordable energy to meet growing demand, while rapidly decarbonizing for a sustainable future,” said Olivier Le Peuch, chief executive officer, SLB. “This dual challenge requires a balance of energy affordability, energy security and sustainability. It requires a balance of innovation and decarbonization in the oil and gas industry as well as clean energy solutions. It requires a balanced energy mix for a balanced planet. Our new identity symbolizes SLB’s commitment to moving farther and faster in facilitating the world’s energy needs today and forging the road ahead for the energy transition. It’s a bold challenge. But the legacy of our people, technology and performance are unmatched, and we are ready to answer this challenge.”
The SLB brand builds on nearly a century of technology innovation and industrialization expertise in the energy services industry. The company has spent the last three years laying the groundwork for its increasing focus on low- and zero-carbon energy technology solutions while continuing to drive innovation, decarbonization and performance for the oil and gas industry:
- In 2020, SLB launched its New Energy business to explore partnerships and opportunities in low-carbon and carbon-neutral technologies. This set in motion a years-long journey for the company to expand its role in the new energy future through the development of new technologies and partnerships.
- In 2021, SLB became the first company in the energy services industry to commit to a net-zero target inclusive of total Scope 3 emissions from the use of its technologies.
- In tandem with this commitment, SLB introduced a portfolio of Transition Technologies™ with a quantifiable, science-based emissions reduction benefit. One example is SLB’s Zero-Flaring Well Test and Cleanup technique, which has been used by customers to reduce up to 80,000 tons of CO2 emissions—the equivalent of taking nearly 18,000 cars off the road for a year.
- Earlier this year, the company announced SLB End-to-end Emissions Solutions (SEES), a dedicated business for eliminating methane emissions from oil and gas operations. Methane is an important industry target because its warming effect is 84 times greater than CO2 over a 20-year period and 28 times over a century. SLB recently joined the Oil and Gas Climate Initiative’s “Aiming for Zero Methane Emissions Initiative” to support energy companies’ efforts to curb the warming impact of their operational methane emissions.
Leveraging this progress and guided by its brand promise to drive energy innovation for a balanced planet, SLB will focus on delivering results-driven solutions for its customers in four areas:
- New energy systems—SLB is focusing on creating and scaling the new energy systems of tomorrow. With its New Energy business evolving to a strategic driver for the company, SLB will continue forging partnerships across various industries to develop technologies across five areas: carbon solutions, hydrogen, geothermal and geoenergy, energy storage and critical minerals. This includes the company’s Celsius Energy business, which reduces the carbon footprint of buildings by making energy accessible from the earth, as well as Genvia, a clean hydrogen technology company formed as a public/private partnership with France’s renewables research agency, CEA, and other partners.
- Industrial decarbonization—Reducing emissions, particularly from hard-to-abate industries, is critical to achieving net zero targets. SLB is already working to make an impact in this area. Last month, it announced plans to develop a digital sustainability platform that will provide sustainability solutions for hard-to-abate industrial sectors. SLB is also focused on expanding technologies and opportunities for carbon capture, utilization and sequestration (CCUS), which is one of the most significant levers for decarbonizing multiple industries.
- Digital at scale—Digital capabilities continue to grow throughout the energy industry and have become a key performance and efficiency driver. SLB’s customers will be able to use the company’s digital products and services to help meet their sustainability goals by driving transparency, better measurement, more effective planning and much more impactful outcomes with integrity. SLB recently announced the commercial release of its Enterprise Data Solution, which helps accelerate advanced workflows. This latest innovation was built in alignment with the emerging requirements of the OSDU™ Technical Standard, the open industry standard for energy data.
- Oil and gas innovation—Building on its decades of technology advancement, SLB will continue innovating new products, services and technologies that make the exploration and development of oil and gas assets cleaner, more resilient and more efficient, with lower carbon and less impact on the environment. The company will continue to build on its fit-for-basin approach, developing bespoke and custom technologies tailored for the regions and environments in which they operate. Through the continued growth of digitally enabled technologies that improve efficiency and performance, its Transition Technologies portfolio and its SEES methane elimination business, SLB will provide solutions that enable its customers to increase production from their reserves at a competitive cost and low carbon intensity per barrel equivalent.
“Our new identity boldly symbolizes our ambition to accelerate the energy transition with sustainability at the center of everything we do,” said Dr. Katharina Beumelburg, chief strategy and sustainability officer, SLB. “Our new brand and strategy are built for this moment in our history. A moment that demands the need for a balanced energy system for our planet and the need to achieve and go beyond net zero to address the climate challenge. Everything we have chosen, from the shape of the logo to our new, bright blue color, symbolizes the boldness of our ambitions and ingenuity of our team to make the new energy future a reality. ’For a balanced planet’ is more than just our new tagline. It’s central to our purpose and our culture. It takes the incredible history of this world-class company, enhances it and moves it forward toward a more sustainable and net zero future.”
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day to decarbonize oil and gas and develop scalable new energy technologies to accelerate the energy transition. Find out more at slb.com.
Access the SLB Media Kit here.
Cautionary Statement Regarding Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about our financial and performance targets and other forecasts or expectations regarding, or dependent on, our business outlook; growth for SLB as a whole and for each of its Divisions (and for specified business lines, geographic areas, or technologies within each Division); oil and natural gas demand and production growth; oil and natural gas prices; forecasts or expectations regarding energy transition and global climate change; improvements in operating procedures and technology; and our business strategies, including digital and “fit for basin,” as well as the strategies of our customers. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve financial and performance targets and other forecasts and expectations; the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of our partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Schlumberger and RTI International Partner to Accelerate the Industrialization of Innovative Carbon Capture Technology
Non-aqueous solvent technology drives carbon capture cost reductions across hard-to-abate industries
HOUSTON, October 17, 2022—Schlumberger announced today that it has entered into an agreement with RTI International, a nonprofit research institute, to accelerate the industrialization and scale-up of its proprietary non-aqueous solvent (NAS) technology, which enhances the efficiency of absorption-based carbon capture. The NAS technology will be applicable to capture CO2 across a broad variety of industrial emissions.“With the world’s carbon budget running out, reducing emissions is a societal imperative,” said Gavin Rennick, president of Schlumberger’s New Energy business. “Carbon capture technologies are a key enabler in realizing a low carbon future—and we are excited about this exclusive agreement to work with RTI on industrializing and scaling this innovative carbon absorption technology, and bringing it to market.”The NAS technology offers a compelling alternative to conventional aqueous solvent technologies for carbon capture, as it consumes less energy while retaining high CO2 capacity, resulting in a material reduction in operating costs. The NAS technology is also less corrosive—eliminating the need for high-grade corrosion-resistant alloys and the associated increase in capital costs. This enhances the overall economics of carbon capture, utilization and storage (CCUS) projects.“RTI has developed the innovative NAS technology over the past 12 years, progressing from lab scale to large engineering scale,” said Dr. Marty Lail, senior director of RTI’s Decarbonization Sciences program. “NAS technology uses as much as 40% less energy during the CO2 capture process. High capture efficiency at lower energy cost is critical for widespread commercial use of carbon capture solvents.”As part of an engineering-scale carbon capture demonstration funded by the U.S. Department of Energy, NAS technology was able to remove >99% of the CO2 from natural gas combustion exhaust streams—the highest capture efficiency reported for any carbon capture solvent technology for this application.RTI and Schlumberger will collaborate to develop models that enable fast design and process customization to achieve a step-change in CO2 capture operations while leveraging Schlumberger’s global footprint to expand market opportunities for the technology.
Schlumberger (NYSE: SLB) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all. In the world of new energy, Schlumberger leverages its intellectual and business capital to focus on low-carbon and carbon-neutral technologies, including ventures in the domains of hydrogen, lithium, energy storage, carbon capture, utilization and sequestration, geothermal power and geoenergy.
For more information, visit www.newenergy.slb.com
About RTI International
RTI International is an independent, nonprofit research institute dedicated to improving the human condition. Clients rely on us to answer questions that demand an objective and multidisciplinary approach — one that integrates expertise across the social and laboratory sciences, engineering and international development. We believe in the promise of science, and we are inspired every day to deliver on that promise for the good of people, communities and businesses around the world.
For more information, visit www.rti.org.
For further information, contact:
Moira Duff – Director of External Communications, Schlumberger Limited
Tel: +1 (713) 375-3407
Kerry Branon – Media Relations Manager, RTI International
Tel: +1 (919) 708-8205
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, carbon capture technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of carbon capture strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in the companies’ public filings, including Schlumberger’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, the parties disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
NREL Acquires Next-Generation High Performance Computing System
Kestrel Will Take Flight and Bring the United States Closer to a Clean Energy Future
The National Renewable Energy Laboratory (NREL) has selected Hewlett Packard Enterprise (HPE) to build its third-generation, high performance computing (HPC) system, called Kestrel.
Named for a falcon with keen eyesight and intelligence, Kestrel’s moniker is apropos for its mission—to rapidly advance the U.S. Department of Energy’s (DOE’s) energy research and development (R&D) efforts to deliver transformative energy solutions to the entire United States.
Installation of the new system will begin in the fall of 2022 in NREL’s Energy Systems Integration Facility (ESIF) data center. Kestrel will complement the laboratory’s current supercomputer, Eagle, during the transition. When completed—in early 2023—Kestrel will accelerate energy efficiency and renewable energy research at a pace and scale more than five times greater than Eagle, with approximately 44 petaflops of computing power.
Eagle enables R&D breakthroughs across multiple programs within DOE’s Office of Energy Efficiency and Renewable Energy (EERE); these breakthroughs are a promising preview of achievable advancements with the highly anticipated Kestrel.
As the dedicated HPC system for EERE, Kestrel will play a critical role in computing across the research portfolio, advancing research in computational materials, continuum mechanics, and large-scale simulation and planning for future energy systems. Rapidly advancing applications and technologies in artificial intelligence (AI) and machine learning are fostering innovation and expansion of research into new directions for computing. These workflows drive complementary physics and data-driven approaches by fusing simulation with new sensor data sources. Kestrel’s heterogeneous architecture—which includes both CPU-only and GPU-accelerated nodes—is designed to enable these emerging workflows, providing EERE and industry partners with the ability to tackle the energy challenges for moving into a renewable and sustainable future.
Years of collaborative work in the HPC domain mean that NREL and HPE are poised to successfully execute the Kestrel deployment beginning in the fall of 2022.
HPE will build Kestrel using the HPE Cray EX supercomputer with design capabilities that are fully compatible with the warm-water waste heat recovery system currently used in NREL’s ESIF data center.
Kestrel will be composed of a balanced capability of future next generation Intel® Xeon® Scalable processors (code-named “Sapphire Rapids”) and NVIDIA A100NEXT Tensor Core GPUs to accelerate AI. The system will also feature HPE Slingshot, an Ethernet fabric to address higher speed and congestion control for larger data-intensive and AI workloads. With high-speed connectivity connecting more than 75 petabytes of parallel file system storage using the Cray ClusterStor E1000 from HPE, users will be empowered to tackle complex, data-centric workflows and immerse themselves in interactive data analytic visualizations.
With the Kestrel HPC system on the horizon, NREL remains poised to continue delivering critical energy efficiency and renewable energy advancements with its HPC-supported capabilities.
For the natural gas and oil industry, the drive for more sustainable operations means developing new standards, innovative technologies and partnerships to accelerate safe, cleaner, affordable energy solutions for today and tomorrow.
America’s natural gas and oil companies are mindful of the responsibilities associated with delivering the energy that’s fundamental to the lives we want to live – while doing it in ways that protect the environment, lower emissions and reduce the risks of climate change.
Companies are committed to continuous improvement and innovation to advance sustainability – specifically, on environmental, social and corporate governance issues (ESG). This means focusing operations and community engagements in ways that can support progress toward achieving the UN 17 Sustainability Development Goals, including affordable and clean energy; jobs and economic growth; innovation and infrastructure; and climate action.
We’re doing this by continuously striving to make our operations and products cleaner as we produce the energy needed by a modern economy – energy that supports better lives and livelihoods, with broad economic and social opportunity.
As the only U.S. trade association representing all aspects of the natural gas and oil value chain, API has a long history of supporting member operations in these areas. These include, our new API Energy Excellence program, certifications and safety training programs, and industry-led initiatives to reduce methane emissions and natural gas flaring. API helps the industry enhance and expand a culture of safety and sustainability throughout all operations.
API members are actively working together to track and improve their sustainability performance while striving for increased transparency with stakeholders. API remains committed to building tools and platforms to support these efforts, as well as helping members engage with stakeholders to meet expectations for the many opportunities and challenges that lie ahead.
API helps companies responsibly meet the world’s energy needs and report consistently on sustainability performance. API and its partners at IPIECA and IOGP created the “Sustainability Reporting Guidance for the Oil and Gas Industry,” now in its fourth edition, to aid companies in their sustainability reporting. These voluntary guidelines identify the most relevant sustainability issues to our industry and provide guidance for reporting on those issues. They provide a robust framework to help companies with their sustainability reporting, particularly for companies that are just starting to report.
The API-IOGP-IPIECA guidance covers issue areas the natural gas and oil industry has managed for decades. These are specifically correlated by five modules to the ESG categories:
Climate Change and Energy
Safety, Health and Security
IPIECA, in collaboration with the World Business Council for Sustainable Development, has also generated a SDG Roadmap in order to advance environmental and social performance for companies the oil and gas sector.
For more detailed resources, visit the Environmental, Social and Governance pages in this section.
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