Schlumberger Reports Latin American Growth

US oilfield services company Schlumberger (NYSE: SLB) posted revenues of US$674 million in Latin America and the Caribbean in 2006, up 9% on 2005, the company said in a statement.

Schlumberger's Latin American and Caribbean pretax operating profit of US$142 million rose 9% sequentially and 57% year-on-year. "Sequential growth in revenue was driven mainly by increasing activity in Mexico with all technologies registering growth," the company said.

Globally, the company posted net income of US$3.71 billion compared to US$2.20 billion in 2005 and revenues of US$19.2 billion in 2006 compared to US$14.31 billion in 2005.

Schlumberger supplies technology, information solutions and integrated project management services that optimize reservoir performance for customers working in the oil and gas industry. The company employs more than 70,000 people in more than 80 countries.

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