Schlumberger Relocations Corporate Office from New York to Houston

Schlumberger Limited (NYSE:SLB) today announced the relocation of their U.S. corporate office from New York to Houston in the second half of 2006. Schlumberger will continue to maintain corporate offices in Paris, France and The Hague, The Netherlands.

Commenting on the move, Schlumberger Chairman and CEO Andrew Gould remarked: "Our focus on growth in oilfield services will be enhanced by a closer proximity of our corporate office to key engineering and operational facilities. Houston is a vibrant energy capital that is vital to the oil and gas industry. We look forward to consolidating our presence in the community that was instrumental in our development."

Founded in Paris in 1926, Schlumberger has had a long association with Houston from where North American operations have been coordinated since 1934. In 1940, Schlumberger opened a prominent office and industrial complex near the Gulf Freeway, which served as a key operational and manufacturing base. Schlumberger moved from the Gulf Freeway facility to a 200-acre campus in Sugar Land in 1995. Currently, Schlumberger maintains multiple operational locations and technical engineering facilities, and employs more than 8,000 employees in the Houston area.