Schlumberger Acquires Odegaard A/S; Extends Seismic Inversion Technology to Advanced Reservoir Characterization

"Odegaard is highly respected in the industry," said DaltonBoutte, president, WesternGeco. "By combining their technicalexpertise with our high-resolution Q-Technology(a), we will be able toextend the value of seismic data in reservoir characterization andproduction management."

As world demand for hydrocarbons grows, the need to link seismicdata and reservoir properties more closely is becoming increasinglystronger. The combination of surface seismic data with keySchlumberger petrophysical and electromagnetic measurementtechnologies, and their integration with workflow processes, will leadto reduced reservoir uncertainties particularly in the smaller andmore complex reservoir targets of the future. Odegaard inversionexpertise will form a key part of this integration.

"This is a significant step for our employees and our customers,"said Kim Gunn Maver, managing director, Odegaard. "As part of theWesternGeco Reservoir Seismic Services group, our geoscientists canleverage the industry's leading seismic technology as well assubstantial R&D resources to further develop advanced reservoirsolutions."

About Schlumberger

Schlumberger is the world's leading oilfield services companysupplying technology, information solutions and integrated projectmanagement that optimize reservoir performance for customers workingin the oil and gas industry. The company employs more than 64,000people of over 140 nationalities working in more than 80 countries.Schlumberger supplies a wide range of products and services fromseismic acquisition and processing; formation evaluation; well testingand directional drilling to well cementing and stimulation; artificiallift and well completions; and consulting, software and informationmanagement. In 2005, Schlumberger operating revenue was $14.31billion. For more information, visit www.slb.com.

(a)Mark of Schlumberger