Schlumberger Reports on Payments to Governments for the Year Ended 31 December 2019
PARIS--(Business Wire / Korea Newswire) July 01, 2020 -- Schlumberger Limited is providing the following disclosure pursuant to L. 225-102-3 of the French Commercial Code (“FCC”) , which requires disclosures of certain payments made by Schlumberger Limited and its consolidated subsidiaries (together, the “Company”) to governments for the year ended December 31, 2019 relating to “extractive industries” as defined by, and required under, the FCC. The following schedules disclose the payments made by the Company in 2019 to governments in Bolivia, Georgia, Morocco, the United Kingdom and the United States in connection with Schlumberger’s extractive activities under the FCC, including its operation of sand and barite mines.
Payments are disclosed in US Dollars. Where a payment or a series of related payments is less than the equivalent of EUR100,000 (USD $111,982) such payments have been excluded (in line with the FCC). Payments made in currencies other than United States Dollars are converted based on the foreign exchange rate at the relevant annual average rate.1
Taxes exclude taxes levied on consumption such as value added taxes, personal income taxes or sales taxes.
Year ended December 31, 2019 (USD in thousands)
(To view the tables, please visit https://bwnews.pr/3dOdiJV)
1. Payments made in local currencies are translated at the average exchange rate for the year. Conversion of EUR to USD based on a rate of EUR 1 = $1.119820829 and of GBP 1 = 1.2772 USD.
2. Royalty payments and production entitlements are paid in cash, except where noted. The value of production entitlements made in kind are calculated with reference to market rates at the time of payment.
3. Totals do not add exactly due to rounding.
Schlumberger is the world’s leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. With product sales and services in more than 120 countries and employing approximately 103,000 people as of the end of first quarter of 2020 who represent over 170 nationalities, Schlumberger supplies the industry’s most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance sustainably.
Schlumberger Limited has executive offices in Paris, Houston, London and The Hague, and reported revenues of $32.92 billion in 2019. For more information, visit www.slb.com.
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Vice President of Investor Relations
Joy V. Domingo
Director of Investor Relations
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