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Schlumberger Business Model Canvas: A Strategic View of Energy Technology and Value Creation
Explore the business model behind Schlumberger's global energy technology platform-this Business Model Canvas highlights how the company delivers value through reservoir characterization, drilling, production, processing, and digital solutions, while connecting customer needs, partner networks, revenue logic, and cost drivers to reveal the drivers of scale, resilience, and energy transition relevance.
Partnerships
Strategic Alliances with National Oil Companies
SLB maintains deep partnerships with major national oil companies (NOCs) to supply long-term technical services and build local content, securing access to >40% of its 2024 pro forma revenue exposure in the Middle East and Latin America; these alliances underpin multi-year service contracts worth an estimated $6-8 billion through 2025. By end-2025 the focus is on raising recovery rates (pilot gains of 5-12% in 2023-24) while cutting carbon intensity via local deployment of low-emission tech and CO2 reduction targets aligned with SLB's 2030 path.
Technology and Cloud Infrastructure Providers
Collaborations with Microsoft and Google scale SLB's Delfi platform by providing global cloud footprint and HPC (high-performance computing); in 2024 Delfi processed petabyte-scale datasets and SLB reported cloud R&D spend of ~$350m, enabling 3x faster model runs. These partners let SLB embed advanced AI/ML into subsurface and drilling software for reservoir modeling and real-time analytics, reducing simulation time by ~65% in pilot projects.
Joint Ventures for Subsea Production
The OneSubsea joint venture with Aker Solutions and Subsea7 combines Schlumberger engineering and tech to deliver integrated subsea production systems, targeting 20-30% faster project delivery and ~10-15% lower lifecycle costs for deepwater fields; by late 2025 it backs execution on ~USD 6-8 billion of active deepwater contracts globally, improving recovery rates and unit economics for offshore operators.
Carbon Capture and Sequestration Collaborators
SLB (Schlumberger) partners with industrial emitters and tech firms to deploy CCS (carbon capture and sequestration), sharing technical know-how and financing to scale projects; New Energy aims to capture significant industrial decarbonization revenue as CCS demand climbs (IEA: 2024 global CO2 captured ~10 Mt/year, target >200 Mt/year by 2030).
- Joint projects split capex/opex risk
- Access to emitter CO2 streams, e.g., cement/steel
- Leverages SLB subsurface and project management expertise
- Tied to 45Q-like credits and emerging carbon markets
Academic and Research Institutions
SLB sustains global collaborations with top universities to lead in energy research and materials science, securing a steady pipeline of elite talent and early access to geothermal and hydrogen tech; joint programs helped SLB file 42 energy-related patents and recruit 1,200 PhD hires globally through 2024-2025.
- 42 energy patents (2024-2025)
- 1,200 PhD hires worldwide
- Multi-year grants with 15 universities
- Early pilots in geothermal/hydrogen: 8 projects
SLB locks ~$6-8B NOC deals, ramps Delfi cloud 3x, OneSubsea deepwater & CCS momentum
SLB secures ~40% of 2024 pro forma revenue exposure via NOC long-term service contracts (~$6-8bn through 2025), scales Delfi cloud/HPC with ~$350m cloud R&D (2024) for 3x faster runs, OneSubsea backs $6-8bn deepwater execution, New Energy/CCS aligns with IEA growth (10 Mt CO2 captured in 2024), and university ties yielded 42 patents and 1,200 PhD hires (2024-25).
| Partnership | Key metric | 2024-25 data |
|---|---|---|
| NOC contracts | Revenue exposure / contract value | ~40% / $6-8bn |
| Delfi (Microsoft/Google) | Cloud R&D / speed | ~$350m / 3x |
| OneSubsea JV | Backed contracts | $6-8bn |
| CCS partners | Global CO2 captured (IEA) | 10 Mt (2024) |
| Academic | Patents / hires | 42 patents / 1,200 PhDs |
What is included in the product
Detailed Word Document
A concise Business Model Canvas for Schlumberger outlining its nine blocks-customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure-reflecting its global oilfield services operations and technology-led differentiation for investors and analysts.
Customizable Excel Spreadsheet
Condenses Schlumberger's complex oilfield services strategy into a digestible one-page Business Model Canvas, saving hours of structuring while enabling quick comparison, team collaboration, and board-ready presentations.
Activities
Advanced Digital Solution Development
SLB invests over $400m annually in the Delfi cognitive E&P environment, embedding AI and analytics to boost reservoir recovery and cut drilling time; customers report up to 15% higher EUR (estimated ultimate recovery) and 10% faster drilling via cloud collaboration. Continuous quarterly software releases and a $60m cybersecurity program keep the platform updated and compliant with industry standards.
Global Oilfield Service Operations
New Energy and Decarbonization Research
Supply Chain and Manufacturing Optimization
SLB runs a global, high-precision supply chain to make and ship downhole tools and equipment, using lean manufacturing and regionalized plants to cut logistics costs and CO2; in 2024 SLB reported supply-chain efficiency gains that helped reduce inventory days by ~12% and Scope 1-3 emissions intensity by ~8% vs 2022.
- Regional plants lower transit costs and lead times
- Lean practices cut inventory days ~12% (2024)
- Emissions intensity down ~8% vs 2022
- Ensures tech reaches customers on-time, on-site
Integrated Project Management
Schlumberger acts as lead contractor on complex energy projects, coordinating multiple service lines to deliver turnkey solutions with detailed planning, risk management, and synchronized technical teams to meet timelines; integrated delivery reduced client interfaces and, per 2024 company reports, helped improve project EBITDA margins by ~150-300 basis points on major EPC contracts.
- Lead contractor role - single point of accountability
- Coordinates drilling, reservoir, digital, and subsea teams
- Focus: planning, risk controls, timeline synchronization
- Client benefit: fewer interfaces, faster decision cycles
- 2024 impact: ~1.5-3.0% margin lift on large projects
SLB boosts field margins with Delfi AI, $400M+ R&D, 45% automation & leaner supply chain
SLB runs R&D ($400M+/yr), Delfi AI platform (15% EUR, 10% faster drilling), 80,000 field staff, $18.6B field revenue (2024), automation 45% ops, $60M cyber, low – carbon R&D ($400M+, pilots to 2026), supply-chain cuts: inventory days -12%, emissions intensity -8% vs 2022; integrated EPC lifts project EBITDA 150-300 bp (2024).
| Metric | 2024/Value |
|---|---|
| R&D spend | $400M+ |
| Field revenue | $18.6B |
| Staff | ~80,000 |
| Automation | 45% |
| Inventory days | -12% |
| Emissions intensity | -8% |
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Resources
Intellectual Property and Patent Portfolio
SLB holds ~20,000 patents globally across subsurface imaging, drilling mechanics, and production chemistry, creating a high barrier to entry and underpinning technical leadership; R&D spend was $1.5B in 2024 so the portfolio stays relevant as the industry shifts to low – carbon solutions.
Global Workforce of Scientists and Engineers
SLB's primary asset is a global workforce of ~100,000 scientists and engineers across 120+ countries, combining deep expertise in geology, physics, data science, and mechanical engineering; their billable technical hours and patented solutions helped SLB report $20.5B revenue in 2024. These teams solve complex field problems and run digital twins (virtual reservoir models) that cut drilling time and nonproductive time by double-digit percentages, anchoring SLB's value delivery.
Delfi Digital Ecosystem and AI Models
The Delfi digital ecosystem and its trained AI models are a core Schlumberger asset, processing over 5 petabytes of subsurface and operations data and delivering models that cut drilling non-productive time by up to 20% and improve recovery estimates by ~8%; decades of field logs and sensor streams form a proprietary training set that competitors cannot replicate.
Global Manufacturing and R&D Centers
Schlumberger operates global manufacturing and R&D centers with state-of-the-art labs and high-tech plants that produce industry-leading tools and accounted for $11.3B capex cumulative 2021-2025 to modernize capacity.
Facilities are sited near major energy hubs while keeping centralized innovation centers; by 2025 upgrades enable New Energy production lines, shifting ~18% of manufacturing throughput to electrification and carbon-management products.
- State-of-the-art labs and high-tech plants
- $11.3B capex 2021-2025 for modernization
- Centers near major energy hubs; central innovation sites
- By 2025, ~18% throughput for New Energy products
Global Logistics and Service Hubs
SLB operates a global network of 150+ maintenance bases and 250 logistics centers, enabling median field response times under 24 hours and supporting $5.1B of service revenue in 2024.
These hubs store specialized tools and spares to cut customer downtime by ~30% versus peers, and maintain physical presence across all major oil and gas provinces-boosting SLB's service reliability and contract win rate.
- 150+ maintenance bases
- 250 logistics centers
- Median response <24 hours
- $5.1B service revenue (2024)
- ~30% downtime reduction vs peers
SLB: Tech & Scale - 20k Patents, $1.5B R&D, 100k Staff, $20.5B Revenue
SLB's key resources: ~20,000 patents, $1.5B R&D (2024), ~100,000 technical staff in 120+ countries, Delfi platform with 5+ PB data, $11.3B capex (2021-2025), 150+ maintenance bases, 250 logistics centers, $20.5B revenue and $5.1B service revenue (2024), ~18% manufacturing throughput for New Energy by 2025.
| Metric | Value |
|---|---|
| Patents | ~20,000 |
| R&D 2024 | $1.5B |
| Employees | ~100,000 |
| Delfi data | 5+ PB |
| Capex 2021-25 | $11.3B |
| Maintenance bases | 150+ |
| Logistics centers | 250 |
| Revenue 2024 | $20.5B |
| Service revenue 2024 | $5.1B |
| New Energy throughput 2025 | ~18% |
Value Propositions
Subsurface Expertise and Reservoir Performance
SLB's subsurface imaging and sensing cut exploration uncertainty by up to 40% in client trials, boosting estimated recovery factors and enabling operators to lift capital efficiency; in 2024 SLB logged $10.8B in reservoir-characterization-related revenue, showing direct ROI linkage to reduced dry-hole risk and higher produced volumes per well.
Operational Efficiency through Digital Transformation
SLB's AI and automation cut drilling non-productive time by up to 20% and can lower operating costs by ~12% per well; its DELFI digital platform enabled a 30% rise in remote operations use by clients in 2024 and predictive maintenance reduced equipment downtime 25%-vital for operators seeking margin resilience when oil prices swung 2023-2025 between $50-90/barrel.
Comprehensive Decarbonization and CCS Solutions
SLB offers a clear pathway for energy firms and industrial emitters to cut CO2 through end-to-end carbon capture and storage (CCS) services, supporting projects from FEED to monitoring; as of 2025 SLB targets >20 Mtpa capture capacity across contracted and pipeline projects, aligning with IEA net-zero scenarios.
This helps clients handle regulatory and investor pressure-EU ETS tightening, US 45Q tax credit up to $85/ton, and rising ESG mandates-reducing compliance risk and potentially improving asset valuations and cost of capital.
Global Scale with Local Content
Customers get SLB's global tech-$10.2B revenue in 2024-deployed with local regulatory compliance and trained local workforces, reducing project delays and permitting risk.
Deep local presence-operations in 120+ countries and $1.2B spent on local procurement in 2024-helps SLB manage regional challenges, support host-nation development, and keep social license to operate.
- Global tech, local compliance
- 120+ countries, $1.2B local spend (2024)
- $10.2B revenue (2024) validates scale
- Improves continuity and permits
Integrated Technology and Service Delivery
SLB bundles well construction through production systems into one contract, cutting procurement steps and lowering integration costs; in 2024 SLB reported $22.9B service revenue, showing scale to execute end-to-end projects.
This integration cuts vendor-compatibility risk, speeds execution, and improves lifecycle recovery-clients can see faster time-to-first-oil and lower total cost per barrel over asset life.
- Single supplier reduces procurement touchpoints
- 2024 service revenue: $22.9B
- Fewer compatibility failures, faster project schedules
- Optimized solutions across asset lifecycle, lower $/boe
SLB cuts exploration uncertainty ~40%, boosts revenue & CCS targets-AI trims costs, speeds oil
SLB cuts exploration uncertainty ~40%, logged $10.8B reservoir revenue (2024); DELFI/AI cut NPT ~20%, Opex ~12% and raised remote ops 30% (2024); CCS pipeline targets >20 Mtpa (2025); global ops in 120+ countries with $1.2B local spend and $22.9B service revenue (2024), enabling end-to-end contracts that lower $/boe and speed time-to-first-oil.
| Metric | Value |
|---|---|
| Reservoir revenue (2024) | $10.8B |
| Service revenue (2024) | $22.9B |
| Local spend (2024) | $1.2B |
| Exploration uncertainty cut | ~40% |
| NPT reduction | ~20% |
| CCS target (2025) | >20 Mtpa |
Customer Relationships
Long-Term Strategic Alliances
SLB builds multi-year alliances with major producers-over 70% of 2024 upstream revenue came from long-term contracts-focusing on joint planning and aligned targets for production and net-zero pathways through 2035. These partnerships embed SLB as a trusted advisor and operational core, driving predictable revenue and shared capital efficiency, with alliance customers reporting average 10-15% production uplift in pilot programs.
Performance-Based Contracting
Schlumberger increasingly uses performance-based contracts where fees tie to milestones or production, aligning SLB and client incentives and driving shared success; in 2024 SLB reported that outcome-linked contracts contributed to roughly 8% of revenue growth in Q4 and helped lift operating margins by ~120 basis points year-over-year. This approach signals SLB's confidence in its tech to deliver measurable financial gains and continuous improvement.
Co-Innovation and Joint Development
SLB co-innovates with major E&P clients to build bespoke tools for specific reservoirs, driving 15-20% faster time-to-first-pay in pilots; in 2024 SLB reported about 18% of Subsurface revenue tied to custom developments and joint projects.
Dedicated Global Account Management
Dedicated global account teams give large SLB clients a single contact for all services, coordinating assets across 85+ countries to meet regional needs and ensuring consistent quality and faster resolution-SLB reported $19.4B revenue in 2024, with ~40% from integrated services where account teams drive cross – sell.
- Single point of contact for global services
- Coordinates resources across 85+ countries
- Drives cross – sell in integrated services (~40% of 2024 revenue)
- Supports rapid issue resolution and consistent quality
Digital Self-Service and Collaboration Portals
Through the Delfi platform, Schlumberger gives customers transparent access to data, analytics, and project-management tools, enabling real-time collaboration between SLB experts and client teams across locations and reducing cycle times; Delfi supported over 1,200 active projects and helped cut decision latency by ~30% in 2024.
The platform empowers self-service workflows while keeping a constant technical link to SLB experts, driving higher retention-customer engagement on Delfi rose 45% year-over-year and contributed to digital services revenue growth of ~18% in 2024.
- Transparent access to data, analytics, PM tools
- Real-time expert-client collaboration worldwide
- Self-service + continuous SLB technical link
- ~1,200 active projects on Delfi (2024)
- ~30% reduction in decision latency (2024)
- 45% YoY engagement increase; 18% digital revenue growth (2024)
SLB boosts recurring revenue with long-term deals, Delfi-enabled agility and integrated services
SLB secures long-term alliances and outcome-based contracts (70% of 2024 upstream revenue from long-term deals; outcome contracts added ~8% to Q4 revenue growth), embeds Delfi for real-time collaboration (~1,200 projects, 45% YoY engagement, 30% faster decisions) and uses global account teams to drive integrated services (~40% of 2024 revenue).
| Metric | 2024 |
|---|---|
| Long-term deal share | 70% |
| Outcome-contract revenue lift (Q4) | +8% |
| Delfi projects | ~1,200 |
| Delfi engagement YoY | +45% |
| Decision latency cut | ~30% |
| Integrated services share | ~40% |
Channels
Direct Technical Sales Force
A specialized direct technical sales force engages engineering and management teams at oilfield operators, translating complex well-drilling and reservoir challenges into integrated Schlumberger solutions; these reps drove about 65% of services revenue in 2024, securing high-value contracts and multi-year service agreements averaging $12-25M per deal.
Delfi Digital Marketplace
SLB's Delfi Digital Marketplace delivers software, data, and AI-driven insights via a cloud platform, enabling subscription and usage-based access that supported 18% of software revenue in 2024 (about $450M of SLB software & digital services).
Regional Operational and Service Hubs
Regional operational and service hubs are physical service centers in major basins that deliver equipment and on-site technical support, ensuring SLB's drilling and digital services reach the field; in 2024 SLB operated over 120 service hubs globally supporting $20B+ revenue-generating operations and achieving 95% on-time field service delivery.
Technical Conferences and Industry Exhibitions
SLB leverages major technical conferences and industry exhibitions to showcase innovations and engage stakeholders, using events like OTC and ADIPEC to position leadership in energy transition and digital tech; at ADIPEC 2024 SLB highlighted initiatives tied to its 2024 $30B revenue and decarbonization offers.
These forums act as top-of-funnel channels, generating leads and brand awareness-SLB reported ~15% of enterprise leads in 2023 originated from events and trade shows.
- Showcase innovations to global audience
- Demonstrate energy-transition and digital leadership
- Top-of-funnel lead source (~15% of leads, 2023)
- Tied to corporate revenue ($30B, 2024)
Global Tendering and Procurement Portals
SLB wins major contracts via global e-procurement portals used by National Oil Companies and IOCs, with competitive tenders accounting for roughly 55% of upstream service awards in 2024; strong documentation, HSEQ and compliance capabilities drove SLB to secure multiyear contracts worth over $4.1 billion in 2024.
- Targets: NOCs and large IOCs using digital tender platforms
- Success drivers: detailed bids, HSEQ, regulatory compliance
- 2024 impact: >$4.1B awarded via tenders; ~55% of upstream awards
Direct sales & Delfi drive growth: $450M marketplace, 65% services, $4.1B tenders
Direct technical sales drove ~65% of services revenue in 2024; Delfi Marketplace delivered ~$450M (18% of software revenue); 120+ service hubs supported $20B+ ops with 95% on-time delivery; events generated ~15% of leads (2023); tenders yielded >$4.1B (2024), ~55% of upstream awards.
| Channel | 2024/2023 Metric |
|---|---|
| Direct sales | 65% services rev |
| Delfi Marketplace | $450M (18% software) |
| Service hubs | 120+ hubs; $20B+ ops; 95% OT |
| Events | 15% leads (2023) |
| Tenders/e-procurement | $4.1B; 55% awards |
Customer Segments
National Oil Companies
National Oil Companies (NOCs) control ~80% of global proved oil and gas reserves and need high-end tech to steward national wealth; SLB provides reservoir modeling, drilling, and integrated project delivery at scale-supporting projects often >$5bn and multi-decade life cycles. By 2025 many NOCs seek SLB help to cut emissions-SLB's carbon-reduction services and CCUS (carbon capture, utilization, and storage) projects address national targets and net-zero pledges.
International Oil Companies
Major IOCs such as BP, Shell, and ExxonMobil demand integrated, efficient, and digitally advanced field services across global portfolios; they are early adopters of SLB's digital offerings (e.g., DELFI) and decarbonization tech, driving high-margin, complex project wins that made up roughly 40% of SLB's services revenue in 2024 and supported SLB's $26.6B revenue that year.
Independent E&P Companies
Smaller independent E&P firms rely on SLB for specialized tech and services they can't build in-house, especially in shale and basin-focused plays; in 2024 independents accounted for ~30% of US onshore production so access to SLB's premium completions and reservoir tech raises recovery and lowers cycle time. SLB offers flexible pricing and modular rigs, keeping unit service costs competitive-often 10-25% below bespoke in-house builds-while delivering the same tech stack used by majors.
New Energy and Geothermal Developers
SLB targets developers of geothermal power, hydrogen production, and lithium extraction, repurposing its subsurface imaging and drilling engineering to non-fossil projects; by end-2025 this segment accounted for roughly 12-15% of new project bookings and underpins SLB's growth strategy. Investors note SLB's tech reuse reduces exploration time by ~20% and can boost project IRR by 3-6 percentage points versus greenfield peers.
- 12-15% of new project bookings (end-2025)
- ~20% faster exploration using SLB tech
- 3-6 ppt higher project IRR vs greenfield
Industrial Carbon Emitters
Hard-to-abate sectors-steel, cement, chemicals-are new SLB carbon-capture customers needing CO2 sequestration to meet tightening rules; global industrial CO2 from these sectors was ~15.6 Gt in 2022 and must fall 30-50% by 2035 per IEA scenarios, creating demand for SLB's services.
SLB uses reservoir expertise and CCS project experience (over 20 MtCO2/year capacity in active projects by 2024) to offer reliable storage and monitoring for these non-traditional clients.
- Target: steel/cement/chemicals ~15.6 GtCO2 (2022)
- Policy driver: 30-50% cut by 2035 (IEA)
- SLB capability: >20 MtCO2/yr active CCS capacity (2024)
SLB's market: NOCs/IOCs mega-projects, independents' modular needs, rising green growth
NOCs (~80% reserves) and IOCs (40% services revenue in 2024) drive large, long-cycle projects; independents (~30% US onshore production in 2024) need modular, lower-cost services; growth from geothermal/hydrogen/lithium (12-15% of new bookings end – 2025) and hard-to-abate CCS (>20 MtCO2/yr capacity in 2024) expands SLB's addressable market.
| Segment | Key metric |
|---|---|
| NOCs | ~80% reserves |
| IOCs | 40% services rev (2024) |
| Independents | ~30% US onshore (2024) |
| Energy transition | 12-15% bookings (end – 2025) |
| CCS | >20 MtCO2/yr (2024) |
Cost Structure
Research and Engineering Investment
Direct Field Labor and Personnel Costs
The cost of employing Schlumberger's global field workforce-engineers, technicians, and support staff-represents a top cost driver, totaling about 30-35% of operating expenses; in 2024 Schlumberger reported roughly $5.8 billion in selling, general and administrative plus workforce-related R&D and training spend. Salaries, benefits, and mandatory safety/technical training vary by region and local labor laws, often raising personnel costs by 10-25% in high-cost jurisdictions.
Digital Infrastructure and Software Maintenance
Maintaining and scaling the Delfi platform drives major costs: SLB reported cloud and software R&D spending of about $1.1bn in 2024, plus rising hyperscaler fees tied to petabyte-scale data, and ongoing platform ops. SLB also invests heavily in cybersecurity-estimated at $120-150m annually-to protect client subsurface and operational data, costs that underpin its high-margin digital revenue growth.
Manufacturing and Supply Chain Expenses
Manufacturing Schlumberger's (SLB) oilfield equipment requires costly alloys and precision machining; in 2024 SLB reported capital expenditure of $1.3 billion, much tied to manufacturing and facility upkeep.
Inventory, warehousing, and global logistics add recurring costs; 2023 supply-chain and logistics volatility pushed component lead times up 20% and freight rates rose ~30% year-over-year, affecting margins.
- 2024 capex $1.3B tied to manufacturing
- Component lead times +20% (2023)
- Freight rates +30% (2023)
- Commodity price swings drive raw-material cost risk
- Facility maintenance and inventory carrying key recurring costs
Depreciation and Amortization of Assets
Depreciation and amortization are material for Schlumberger (SLB); in 2024 SLB reported $5.1 billion in depreciation and amortization, driven by its large fleet of tools, rigs, and facilities and by amortizing acquired software and patents from recent M&A.
Active lifecycle management-retiring underused assets, extending useful lives, and capitalizing vs expensing R&D-directly affects margins and free cash flow.
- 2024 D&A: $5.1 billion
- Capital-intensive fleet: tools, vessels, facilities
- Intangibles: tech, patents from acquisitions
- Manage lifecycle to protect margins and FCF
2024: $33.2B Revenue - R&D 10-12% ($3.3-4.0B), Opex tied to workforce 30-35%
| Item | 2024 Value |
|---|---|
| Revenue | $33.2B |
| R&D spend | $3.3-4.0B (10-12%) |
| Workforce/SG&A | ~$5.8B (30-35% Opex) |
| Capex | $1.3B |
| Cloud/software R&D | $1.1B |
| Cybersecurity | $120-150M |
| D&A | $5.1B |
| Supply shocks | Lead times +20%, Freight +30% (2023) |
Revenue Streams
Digital and Integration Services
Digital and Integration Services deliver high-margin revenue via SaaS subscriptions, data consulting, and integrated asset management; by Q4 2025 Schlumberger reported digital revenue growth of ~18% YoY, with recurring contracts making up about 40% of segment bookings and raising gross margins by ~12 percentage points versus legacy services.
Reservoir Performance Fees
Revenue arises from imaging, testing, and intervention services that boost reservoir output across exploration and production; in 2024 Schlumberger reported $5.3B in reservoir-related services, driven by higher-margin software and field interventions. These offerings use proprietary tech-downhole sensors, 4D seismic, and real-time analytics-that command premium pricing and lifted segment EBIT margins to ~18% in 2024.
Well Construction Revenue
Well Construction Revenue covers drilling, drilling-fluid services, and equipment sales for new wells; SLB (Schlumberger) bills by well complexity and drilling days, with 2024 well-construction-related sales contributing roughly $8.5B of the $27.6B service segment revenue, driven by offshore and US unconventional activity.
Production Systems Sales
SLB (Schlumberger) earns revenue by selling and installing production systems-subsea trees, surface equipment, and midstream processing-often as large, project-based deals tied to multiyear service and maintenance contracts; in 2024 SLB reported equipment and project revenue of about $12.6 billion, with oilfield services and equipment backlog near $18 billion as of Q4 2024.
- Large-ticket sales: subsea trees, surface gear, midstream plants
- Project-based: multi-year delivery and installation
- Aftermarket: long-term service and maintenance contracts
- Scale: equipment/project revenue ~$12.6B in 2024; backlog ~$18B end-2024
New Energy and Decarbonization Services
By late 2025 SLB's New Energy and Decarbonization Services generate rapidly rising revenue-about $1.3 billion annual run-rate from carbon capture, hydrogen, and geothermal projects, up ~45% vs 2023-covering sequestration site characterization, carbon monitoring services, and sales of low-carbon tech.
- ~$1.3B run-rate (2025)
- 45% growth since 2023
- Services: site characterization, monitoring, tech sales
- Supports SLB strategy to diversify from fossil services
SLB: Diverse $28B+ streams - digital SaaS growth, strong backlog & booming New Energy
SLB earns recurring digital SaaS and consulting (40% bookings, ~18% YoY digital growth by Q4 2025), reservoir services ~$5.3B (2024) with ~18% EBIT, well-construction ~$8.5B (2024), equipment/project ~$12.6B and $18B backlog (end-2024), New Energy ~$1.3B run-rate (2025, +45% vs 2023).
| Stream | 2024/2025 | Key metric |
|---|---|---|
| Digital | Q4 2025 | 40% bookings, +18% YoY |
| Reservoir | 2024 | $5.3B, ~18% EBIT |
| Well construction | 2024 | $8.5B |
| Equipment/projects | 2024 | $12.6B rev, $18B backlog |
| New Energy | 2025 | $1.3B run-rate, +45% |
Frequently Asked Questions
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