90 Years of Innovation

Imagine for a moment that we are in an era without computers, where landline phones did not exist, let alone cell phones or internet. It was a time when traveling was not as simple as taking a plane but required a horse ride or a train journey, often taking several days to reach the destination. It was in this era that a revolutionary technique demonstrated the existence of oil in Ancon, on the Santa Elena Peninsula. We are in Ecuador, the year 1934.

On November 6, 1934, SLB (then Schlumberger) marked a milestone in Ecuador’s history by running the first electrical log, which confirmed the existence of oil in the country. This groundbreaking discovery led to the establishment of Ecuador’s first oil well, Well 317, located in Ancon, a small town that enjoys a privileged location on the Pacific Coast of the country.

At that time, Ecuador’s oil industry was still in its development stages and far from reaching the levels of economic significance it would later attain. Significant commercial production began in 1925. By 1959, the coastal area reserves were nearly depleted; however, in 1967, new studies and electrical logs conducted by SLB uncovered reservoirs in the Ecuadorian Amazon, revitalizing the industry and driving the country’s development.

Present Day

The oil industry in Ecuador accounts for approximately 11.3% of the country’s GDP and contributes between 30% and 34% of national revenues. Within this context, SLB has played an essential role in its development.

Operating continuously for 90 years in Ecuador, SLB provides a comprehensive range of services, ensuring that both our customers and the country benefit from the latest innovations. In addition to providing a wide range of services and products for the oil industry, SLB invests in production management and technology for mature fields, signing several important contracts, significantly contributing to the country’s oil production.

SLB’s commitment to Ecuador also extends to social and environmental spheres. Through social development programs, SLB aims to create value in the communities where it operates, with initiatives that promote education, create opportunities, and ensure labor equity and health.

SLB’s global and local purpose of creating amazing technology that unlocks access to energy for the benefit of all has been the guiding compass. This mission is pursued with a strong focus on the well-being of its employees, Ecuadorian society, the communities where it operates, and the environment.