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.
Copyright Business Wire 2014