Patrick Schorn

Executive Vice President, New Ventures

Cowen & Company

7th Annual Energy & Natural Resources Conference

New York, December 4, 2017

This presentation contains forward-looking statements within the meaning of the federal securities laws that is,
statements about the future, not about past events. Such statements often contain words such as expect, may,
believe, plan, estimate, intend, anticipate, should, could, will, see, likely, 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 business outlook; growth for
Schlumberger as a whole and for each of its segments (and for specified products or geographic areas within each
segment); oil and natural gas demand and production growth; oil and natural gas prices; improvements in operating
procedures and technology, including our transformation program; capital expenditures by Schlumberger and the oil and
gas industry; the business strategies of Schlumbergers customers; the success of Schlumbergers SPM projects, joint
ventures and alliances; future global economic conditions; and future results of operations. These statements are
subject to risks and uncertainties, including, but not limited to, global economic conditions; changes in exploration and
production spending by Schlumbergers customers and changes in the level of oil and natural gas exploration and
development; general economic, political and business conditions in key regions of the world; foreign currency risk;
pricing pressure; weather and seasonal factors; operational modifications, delays or cancellations; production declines;
changes in government regulations and regulatory requirements, including those related to offshore oil and gas
exploration, radioactive sources, explosives, chemicals, hydraulic fracturing services and climate-related initiatives; the
inability of technology to meet new challenges in exploration; the inability to retain key employees; and other risks and
uncertainties detailed in our 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
presentation, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements,
whether as a result of new information, future events or otherwise.
 Market Fundamentals

Upstream Capex versus Oil Production

100 700
Global production not yet fully
600
95 reflecting drop in E&P investment
500
90

85
400 Demand for oil remains strong

$ billion
MMbbl/d

300 with upward growth revisions

80
200
75 100 Light tight oil has revolutionized
70 0 supply, but limitations emerging

2003 2005 2007 2009 2011 2013 2015 2017E

Global Oil Production

Global E&P Upstream Capex

Sources: IHS, EIA

Light Tight Oil Revolutionized SupplyBut Limits Emerge

2008-2017 Global E&P Capex ($ trillion)

Forecast rates of production growth

$1.1T
Land unconventional slowing in the medium term
All other E&P

$4.2T Pursuit of growth now balanced by

stronger focus on financial performance

Investment in light tight oil has reached

2017 Estimated Oil Supply (MMbbl/d) one-fifth of total E&P investment

5 Well spacing and completion volumes

may be reaching technology limit
US tight oil
All other oil supply
93 MMbbl/d

Sources: IHS, EIA ; * Nov 2017 EIA

Investment Maintained in OPEC Gulf, Russia and US

Russia
12% global supply OPEC and Russia production cuts
have helped rebalance markets

Rest of World has seen only limited

investment since market bottom

US tight oil FIDs for conventional land and

5% global supply offshore projects increasing
OPEC Gulf
25% global supply

Sources: IEA, Schlumberger analysis

 Market Drives New Technology Development in West Texas

Pad Drilling Increasing Lateral Lengths Extending Evolution of Speed and Length
300 2014
100% 20%
2017

Rate of Pentration (ft/hr)

80%
15%
200
60%
10%
40% 100
5%
20%

0% 0% 0
2012 2013 2014 2015 2016 2017 2014 2015 2016 2017 0 5,000 10,000 15,000

% Wells from Multiwell Pads Share of Laterals > 10,000 ft Lateral Length (ft)

Pad drilling boosts efficiency Longer laterals increase reservoir contact Faster speeds reduce drilling times

Notes: Lateral examples are from the Midland Wolfcamp, pad drilling mix data from Rystad NAS WellCube; 2017 data through October 31
Transformation Improves Internal Efficiency in US Land

Cost of Ownership Decreasing Tool Reliability Increasing

-32% +17%
100 2,500
80

Hrs/Failure
60 1,500
%
40
20 500
0 0
TelePacer xBolt TelePacer xBolt

Asset Utilization Improving Remote Operations Expanding

8 -49% 40
+149%
6 30
Tools/Job

4 % 20

2 10

0 0
2015 2016 2017 2014 2015 2016 2017

Note: Cost of ownership includes compensation, maintenance and capex per job; 2017 data through October 31
 PowerDrive RSS Technology Drives Performance in US Land

7-Well Campaign for 80-Well Campaign for

Eclipse Resources in Ohio Parsley Energy in West Texas
5,000
Measured Depth (ft)

10,000 +9% -17% -30%

15,000

20,000 First well

10 days

25,000 2016
Seventh well
5 days 2015
30,000
0 2 4 6 8 10 12 Average Lateral Average Days Cost Per
Footage Per Well Per Well Lateral
Drilling Time (days)

Drill time halved between first and seventh wells Drilling cost per lateral reduced by 30%
Two record-breaking laterals >20k feet drilled in October Total lateral footage drilled per well extended by 9%
All seven wells drilled fully in geological window 7,128-ft lateral drilled in 1.7 days

Note: Cost of ownership includes compensation, maintenance and capex per job
Transforming Completions and ProductionOneStim
Improving Asset Utilization and Reducing Unit CostOneStim

Operations Planning

Sand volume doubled since 2014

Asset utilization increased by 30%

Global Traceability

Unit cost reduced by 56%

Improving Reliability and EfficiencyOneStim

Reliability Centered Maintenance

Mean time between failures decreased by 55%

Workforce productivity increased by 35%

Prognostic Health Tools

Transformation gains have enabled capacity

equivalent to 3 hydraulic fracturing fleets
New Generation Hydraulic Fracturing EquipmentOneStim

Activity since introduction in 2017

Stages completed: 3,732
Wells completed: 128
Operating time: 26,143 hours
Connecting E&P Workflows with Digital Enablement
DELFI Built on 25 Years of Software Technology Leadership

1990s 2000s 2010s Now

Geoquest Systems Holditch Baker Jardine Technoguide GeonKnowledge

IES Reservoir Tech PIPESIM PETREL GeoX
CONSULTING

Finder Graphics Merak Inside Decision Team RDR DELFI

Systems PEEP, Capital Reality DECIDE! Guru
FINDER Planning

Intera Tech Corp. VoxelVision Techsia SPT

ECLIPSE TECHLOG OLGA, MEPO,
DrillBench
Digitally Enabled Well Construction

Integrated Well Planning Drilling Technology Selection

Monitoring and Analysis Drilling Operations

 Fourth-Quarter Sequential Outlook

Reservoir Characterization Group Lower

Northern hemisphere seasonal reductions across several product
lines and muted year-end multiclient and software sales

Drilling Group Flat

Higher drilling in North America land offset by seasonal decline in the
Northern Hemisphere following Q3 strong summer drilling campaigns

Production Group Higher

Continued growth in North America land with full quarter benefit from
capacity redeployment although moderated by seasonality

NAM land growth continuesmoderated by holiday season

and rig count flattening
Cameron Group Modestly Higher
Surface and V&M higher on robust North America activity partially Modest growth in Latin America and Middle East,
offset by slowing decline in OneSubsea and Drilling Systems Europe/Africa/Central Asia lower on winter seasonality

Year-end product sales muted

Summary

The narrowing gap between oil supply and demand is leading commodity prices
higher. We are increasingly positive on the outlook for our global business

We continue to invest in our business, and our technology leadership coupled with
increasing digital enablement provides a foundation to leverage market recovery

Our multiyear transformation program continues to contribute to performance while

innovative technology development meets evolving market needs

We are confident that our financial strength, geographical footprint and technology
portfolio position us as the oilfield services leader as the market moves to recovery