Schlumberger CFO Perraud to Retire

Schlumberger Limited on Thursday said that Jean-Marc Perraud, 59, Executive Vice President and Chief Financial Officer since April 2002, will retire from this position effective March 1, 2007. Perraud, who joined the Company in 1974, will remain with Schlumberger as Financial Advisor to the Chairman under a phased retirement plan.

Schlumberger Chairman and CEO Andrew Gould commented, "On behalf of the Company and its Board of Directors, I would like to take this opportunity to thank Jean-Marc for his contribution as Chief Financial Officer and I look forward to his continuing advice and support."

Perraud will be replaced by Simon Ayat, currently Schlumberger Limited Vice President Treasurer. In a twenty-five-year career with Schlumberger, Ayat has held senior positions in finance and operations both at the field and headquarters levels. Prior to his current assignment he held the position of Vice President Finance and Business Processes, Schlumberger Limited.