The world’s biggest oilfield services provider, Schlumberger, is rebranding itself with a new name, logo, and color scheme that underscores its ambitions for a lower-carbon future, as mentioned by the firm on October 24.
The almost 100-year-old company, originally named after its founding family, has become a behemoth in oilfield services and equipment like drilling and subsurface analysis. However, it has already shed old-line products and recast itself as a digital services provider, and a supporter of cleaner energies.
Its rebranding is not a move away from fossil fuels as explained by Chief Executive Officer Olivier Le Peuch in an interview. However, it is a nod to how the renamed SLB can apply its extensive skills to create lower carbon businesses, most of which got a financial boost from the United States Inflation Reduction Act.
Renowned in the sector as “big blue,” SLB adopts a new light blue color and swooping logo that mainly reflects what Le Peuch stated signifies the carbon dioxide emissions abatement curve. He added:
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“We believe that we have an opportunity in selected markets and selected domains to innovate and scale solutions for clean energy.”
Le Peuch also noted that the renamed SLB can leverage its capabilities in areas like subsurface analysis to underpin budding technologies like sequestration and carbon capture. In 2020, it unveiled a New Energies business unit to explore carbon neutral and low-carbon technologies, and last year set a corporate net-zero target, which features Scope 3 emissions and those created by clients using its products.
Most of its oil-producing clients also are striving to embrace hydrogen and other renewable fuels, coupled with low-carbon production methods to mitigate greenhouse gas emissions.