PARIS. - Tuesday, August 12th 2014 [ME NewsWire]
(BUSINESS
WIRE) Based on a high demand for additional information regarding its
business in Russia, Schlumberger Limited (NYSE:SLB) provided the
following third-quarter update today:
In the past week, both the
United States and the European Union (EU) have announced economic
sanctions and restrictions relating to Russia that is affecting its
energy, defense and banking sectors. Schlumberger continues to monitor
these events closely to ensure that our activities and actions are in
full compliance with applicable regulations.
The sanctions are
placing some restrictions on the engagement of certain people and
equipment in our Russian operations which in the short term will have an
impact on operational efficiency and costs in Russia. The financial
impact of the sanctions in the third quarter is limited, and is
currently estimated to be up to $0.03 of earnings per share.
Schlumberger
remains confident that we can support our clients in Russia without
material disruption and operations are therefore being adjusted as
necessary in response to the US and EU measures, while we continue to
work closely with our Russian customers.
This press release contains
forward-looking statements within the meaning of the federal securities
laws, which include any statements that are not historical facts, such
as our forecasts or expectations regarding the third quarter. These
statements are subject to risks and uncertainties, including, but not
limited to, global economic conditions; general economic, political and
business conditions in key regions of the world, including in Russia and
the Ukraine; operational delays; production declines; changes in
government regulations and regulatory requirements, including those
related to sanctions; and other risks and uncertainties detailed in our
most recent Form 10-K and other filings that we make with the 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 our underlying assumptions prove incorrect, actual
outcomes may vary materially from those reflected in our forward-looking
statements. Schlumberger disclaims any intention or obligation to
update publicly or revise such statements, whether as a result of new
information, future events or otherwise.
About Schlumberger
Schlumberger
is the world’s leading supplier of technology, integrated project
management and information solutions to customers working in the oil and
gas industry worldwide. Employing approximately 126,000 people
representing over 140 nationalities and working in more than 85
countries, Schlumberger provides the industry’s widest range of products
and services from exploration through production.
Schlumberger
Limited has principal offices in Paris, Houston, London and The Hague,
and reported revenues from continuing operations of $45.27 billion in
2013. For more information, visit www.slb.com.
Contacts
Investors
Simon Farrant – Schlumberger Limited, Vice President Investor Relations
Joy V. Domingo – Schlumberger Limited, Manager of Investor Relations
Office +1 (713) 375 3535
investor-relations@slb.com
Media
Joao Felix – Schlumberger Limited, Director of External Communications
Office +1 (713) 375 3494
jpfelix@slb.com
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