Speaking on the industry outlook Beumelburg commented that it is an exciting time for the industry, which will receive unprecedented investment over the coming decades to realize energy transition. The challenge is providing affordable, reliable energy that supports economic growth while at the same time aggressively decarbonizing.

To meet this objective, collaboration both inside and outside of the industry is essential, as is adopting a partnership mindset to accelerate the speed to innovations.

"That is why we must accelerate the decarbonization of industry operations, while at the same time increasing performance—to build the best version of oil and gas we can together."

To meet existing decarbonization commitments, carbon capture and storage (CCS) will play a major role. Beumelburg highlighted that Schlumberger is advancing the deployment of CCS by bringing decades of experience gained on more than 100 projects to partnerships in multiple industries.

On the topic of energy transition, Beumelburg reinforced that we must diversify the global mix with more low-carbon energy.

"We at SLB are excited to participate in this and believe our culture of science and engineering, global scope, and track record of technology commercialization make us a strong partner to scale new low-carbon innovations."

Learn more about SLB's commitment to sustainability and view performance results in the Sustainability Report.