Schlumberger (NYSE: SLB) is rebranding as it affirms its transformation from an oilfield services giant to a global technology company.
From today, the New York-listed firm will go under the name SLB, designed to highlight its focus on “driving energy innovation for a balanced planet”.
The legacy Schlumberger brand and nearly all of its affiliated brands will become one under the new SLB brand.
It comes with a “refreshed visual identity”, including a new logo for the company.
Olivier Le Peuch, chief executive of SLB, said: “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.
“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.”
SLB’s new brand builds on nearly a century of technology innovation and industrialisation expertise in the energy services industry.
It has spent the last three years laying the groundwork for its increasing focus on low- and zero-carbon energy technology solutions.
In 2020, the Houston-headquartered company launched a new energy business to explore partnerships and opportunities in the space.
The following year 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.
Going forward, SLB, which has a North Sea base in Aberdeen, will focus on “delivering results-driven solutions for its customers” in four key areas.
© Supplied by AJLIn addition to “creating and scaling the new energy systems of tomorrow”, the company will also focus on industrial decarbonisation.
Key to that will be reducing emissions, particularly from hard-to-abate industries, in order to help countries and companies deliver on net zero.
That includes through the use of carbon capture, utilisation and sequestration (CCUS).
“Digital at scale” is the third pillar of SLB’s new strategy, with the company rolling out digital products and services for customers, helping them to meet their sustainability goals.
Building on its roots, the firm is also focussing on oil and gas innovation and delivering new products, services and technologies that make exploration and development cleaner.
Katharina Beumelburg, SLB’s chief strategy and sustainability officer, said: “Our new identity boldly symbolizes our ambition to accelerate the energy transition with sustainability at the center of everything we do.
“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.”
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