From French electrical pioneers to a global energy giant: The evolution of SLB
In short: Founded in 1926 by two brothers, SLB began by mapping electrical resistivity in French soil. Today, it stands as the world's largest offshore drilling contractor. Its journey from a niche geophysical startup to a multinational powerhouse reveals the complex, often controversial, mechanics of global energy infrastructure and corporate adaptation.
The company, originally known as Schlumberger, was established in Paris by brothers Conrad and Marcel Schlumberger. Their early innovation—recording the first electrical resistivity well log in 1927—transformed how the petroleum industry understood subsurface formations. Over the following decades, the firm aggressively expanded through acquisitions, including the 1979 purchase of Fairchild Camera and Instrument and the 2010 acquisition of Smith International for $11.3 billion. By 2022, the company had rebranded as SLB, reflecting a shift in identity while maintaining its core focus on oilfield services.
SLB’s history is marked by significant legal and ethical challenges. In 2015, the company paid a $233 million fine for violating U.S. sanctions in Iran and Sudan. Its operations in Russia have also drawn scrutiny; despite international pressure following the invasion of Ukraine, the company has continued its business in the region. Reports in 2022 indicated that the firm’s Russian offices were facilitating military draft notices for employees, a practice that has drawn criticism from human rights organizations and observers like the Yale Chief Executive Leadership Institute.
Beyond its geopolitical footprint, the company has faced internal crises. A 2020 class-action lawsuit alleged a pervasive culture of sexual harassment and discrimination, noting that women held only 5.4% of field roles as of 2018. Despite these controversies, SLB remains a dominant force in energy technology, pivoting toward carbon capture, geothermal energy, and hydrogen production through initiatives like Genvia. As it navigates the transition to net-zero, the company continues to balance its legacy in fossil fuel extraction with new investments in industrial decarbonization.
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Sources
- Summary by Intellect · source: SLB
- Also: Wikidata — SLB · CC0
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