Schlumberger’s Revenue by Segment (2016-2022)

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This statistic highlights Schlumberger’s Revenue by Segment, split between Digital and Integration, Production, Reservoir Characterization and Well Construction segments, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights Schlumberger’s Revenue by Segment, split between Digital and Integration, Production, Reservoir Characterization and Well Construction segments, reported on a quarterly basis from Q1 2016 onwards.

Schlumberger’s Revenue by Segment

Revenue by Segment  Q3 2020  Q2 2021  Q3 2021 Revenue contribution in Q3 2021
Digital and integration           – $817.00 $812.00 14%
Production $1,801.00 $1,681.00 $1,674.00 29%
Reservoir Characterization $1,010.00 $1,117.00 $1,192.00 20%
Well construction          – $2,110.00 $2,273.00 39%
Eliminations & other $(37.00) $(91.00) $(104.00) (2)%
Total 5,258.00 5,634.00 5,847.00 100%

(All figures are in millions, except percentages)

The overall revenue increased from $5,258 million in Q3 2020 to $5,847 million Q3 2021 roughly by 11.2% on a year-on-year basis. The revenue increased from $5,634 million in Q2 2021 to $5,847 million roughly by 3.78%.

Digital and Integration

It combines Schlumberger’s software and seismic business with Asset Performance Solution (APS) which develops or redevelops fields resulting in higher productivity and improving cashflows. The primary offering of this Segment includes:

  • Multiclient Seismic Surveys and data processing- WesternGeco is a leading geophysical services supplier offering innovative and accurate subsurface imagery for multiclient surveys.
  • Digital Solutions- Includes proprietary software, Information management, IT infrastructure and offers services for reservoir characterization.
  • Asset Performance Solution- APS combines Schlumberger’s products and services with engineering and project management expertise to provide solutions to well construction and improve productivity.

Revenue from Digital and Integration fell from $817 million in Q2 2021 to $812 million in Q3 2021 roughly by 0.612%.

Production

Production Group provides technologies in the production of oil and gas reservoirs such as Well intervention, water service, completions, well services, etc. The primary offering of this segment includes:

  • Artificial Lift- Provides production equipment and optimizing services using gas lift equipment, cavity pump, and surface horizontal pumping system.
  • OneSubsea- Provides products, services, and systems for the subsea market including subsea trees, manifolds, and flowline connectors.
  • Surface- Design and manufacture offshore and onshore platforms including valves, chokes, etc.
  • Valves- Provide valves product that is used to control the flow of hydrocarbons.
  • Processing- Efficient monetization of subsurface assets using custom-designed and standard onshore, offshore processing, and treatment system.

Revenue fell from $1,801 million in Q3 2020 to $1,674 million in Q3 2021 roughly by 7% on a Year-on-Year basis. The contribution by the Production segment fell from 34% in Q3 2020 to 28.6% in Q3 2021.

Reservoir Characterization

This segment provides reservoir-centric services that are needed to improve reservoir productivity and performance. It offers innovative technologies to evaluate, intervene and stimulate performance increasing their value. The primary offering of this Segment includes:

  • Wireline- Provides necessary information to evaluate subsurface geology to plan for well construction.
  • Testing- Provides exploration and production pressure and flow rate measurement service.
  • Stimulation and Intervention- Provides services at the time of well completions.

Revenue increased from $1,010 million in Q3 2020 to $1,192 in Q3 2021 roughly by 18.1% on a Year-on-Year basis. Contribution to the total revenue increased from 19.2% in Q3 2020 to 20.39% in Q3 2021.

Well Construction

Well Construction offers products and services relating to designing and construction of well to the operators and drilling rig manufacturers. The primary offering of this segment includes:

  • Drilling and Measurements- Provides mud logging services.
  • Drilling Fluids- Provides drilling fluid system to improve performance and maintain well control.
  • Drill Bits- Design and manufacture roller cone and fixed cutter
  • Drilling tools- Includes a variety of bottom hole assembly technologies for drilling purpose
  • Well Cementing- Supports and protects well casings
  • Integrated Well Construction- Construct or change the architecture of wells.
  • Rigs and Equipment- Provides drilling equipment to energy companies, rental tool companies, etc.

Revenue increased from $2,110 million in Q2 2021 to $2,273 million in Q3 2021 roughly by 7.7%. The contribution made by the segment to the overall revenue increased from 37.45% in Q2 2021 to 38.87% in Q3 2021.

About the company

Schlumberger is an oilfield service company with offices in Paris, Houston, London, and The Hague that employs over 140 nationalities and works in over 120 countries. Schlumberger provides technology to the oil and gas industry for drilling, production, and processing. Its technology services and solutions enable the customer to translate data into useful information which helps them make informed decisions resulting in higher efficiency and productivity.

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