87347--2/11/2009--SCHLUMBERGER_LTD

related topics

{property, intellectual, protect}

{condition, economic, financial}

{cost, regulation, environmental}

{operation, international, foreign}

{personnel, key, retain}

{operation, natural, condition}

{financial, litigation, operation}

Demand for the majority of our services is substantially dependent on the levels of expenditures by the oil and gas industry. Current global economic conditions have resulted in a significant decline in oil and gas prices. If current global economic conditions and the availability of credit worsen or continue for an extended period, this could reduce our customers levels of expenditures and have a significant adverse effect on our revenue and operating results. A significant portion of our revenue is derived from our non-United States operations, which exposes us to risks inherent in doing business in each of the approximately 80 countries in which we operate. Environmental compliance costs and liabilities could reduce our earnings and cash available for operations. We could be subject to substantial liability claims, which would adversely affect our results and financial condition. If we are unable to maintain technology leadership in the form of services and products, this could affect any competitive advantage we hold. Limitations on our ability to protect our intellectual property rights, including our trade secrets, could cause a loss in revenue and any competitive advantage we hold. We may be subject to litigation if another party claims that we have infringed upon its intellectual property rights. Failure to obtain and retain skilled technical personnel could impede our operations. Severe weather conditions may affect our operations.

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87347--2/11/2009--SCHLUMBERGER_LTD_/NV/