Rebranding, Schlumberger To SLB

Tarek Rizk shared, "Schlumberger has had a constant presence in the Middle East for the past 85 years." Our rebranding to SLB does not change this. "We'll continue providing our customers in the region with the high service quality levels that they have come to expect from us."

He further added, "Today, SLB is a global technology company, driving energy innovation for a balanced planet." Since launching the SLB brand the week before the ADIPEC exhibition this year, I have received a lot of positive feedback from customers. I think the new brand shows that we’re in tune with the challenges the world is facing—specifically the "energy trilemma," which is about balancing the interplay between energy affordability, energy security, and climate change.

To solve these challenges, SLB is working closely with their customers in the Middle East to help decarbonize oil and gas exploration and development. It will also offer more sustainable solutions to a broader range of customers outside their traditional industry verticals.

In September, SLB announced a strategic collaboration in the region—like one with Saudi Aramco in September—to develop a digital platform that will provide sustainability solutions for hard-to-abate industrial sectors like oil and gas, chemicals, utilities, cement, and steel.

"Sustainability is at the heart of everything we do." "It's built into our R&D processes for new technology development, and it’s a significant consideration for our collaborations and partnerships in the region," Rizk said.

Carbon and storage [CCS] is a key focus area for SLB. It helps in decarbonizing the energy system in the Middle East and across the globe. SLB currently has over 20 active CCS-related projects, several of which are in the Middle East.

Tarek Rizk strongly feels that another opportunity in the region is geothermal. Last month, they announced their collaboration with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority on a geothermal resource development project.

"We recently completed a countrywide evaluation of Oman’s geothermal potential using a proprietary AI solution to expedite the assessment, sorting, and evaluation of the huge volume of data from the Oman Oil and Gas Data Repository. "We look forward to being involved in the next phase of the project, which will include an assessment of the economic feasibility of the development of potential geothermal resources." Tariq added a comment on the steps taken to reduce carbon footprints.

"We’re working every day to develop more sustainable oil and gas development solutions." Many of these come from our growing portfolio of transition technologies, which have a quantifiable emissions reduction benefit. "As the region's oil and gas development accelerates, we'll work closely with our customers to provide the best-matched technology solutions that help them increase production from their reserves at a competitive cost and low carbon intensity per barrel," Tarek Rizk concludes in the report.

 By Sumita Pawar