87347--2/24/2006--SCHLUMBERGER_LTD

related topics

{property, intellectual, protect}

{cost, regulation, environmental}

{operation, international, foreign}

{gas, price, oil}

{personnel, key, retain}

{financial, litigation, operation}

Demand for the majority of our oilfield services is substantially dependent on the level of expenditures by the oil and gas industry. A substantial or an extended decline in oil or gas prices could result in lower expenditures by the oil and gas industry and reduce our revenue. 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 more than 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. 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.

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87347--2/24/2006--SCHLUMBERGER_LTD_/NV/