Investment Thesis
SLB (Schlumberger) provides oilfield services and technology across reservoir characterization, drilling, production, and digital solutions. Upstream investment upcycle and energy transition ventures fuel growth.
- International Mix: 80% of revenue outside North America captures offshore/ME growth.
- Digital & Integration: Software and integrated projects create stickier revenue.
- New Energy: Geothermal, CCS, and hydrogen projects extend expertise.