In order to keep our customers, partners, employees and shareholders informed about SLB's remaining presence in Russia, we are providing the following Frequently Asked Questions in addition to our ongoing news updates. We will keep these updated with the latest information as needed.

Why did SLB remain in Russia?

When Russia invaded Ukraine in early 2022, we knew that – because of our size and number of employees in the region – an accelerated exit would have exposed our people, our technology and our business to significant risk. We immediately took voluntary measures to curtail our Russian activity and announced that we would not make any new investments in Russia and would not deploy new technology used in our services business. We have consistently used the international sanctions to guide our actions, including our announcement in July 2023 that we were halting shipments of products and technology into Russia from all SLB facilities worldwide. This follows SLB’s previous ban on shipments from the United States, United Kingdom, the European Union and Canada into Russia. We strongly condemn the actions Russia has taken against Ukraine, and our focus remains on the safety and security of our employees throughout the region as well as our technology and assets.

Does SLB comply with all international sanctions?

Yes. SLB takes its responsibility to comply with export control and economic sanction laws extremely seriously. We have consistently used the international sanctions, which reflect the delicate balance between promoting global energy security while pushing for an end to the war in Ukraine, to guide our decisions. The increasing sanctions against Russia are complex and dynamic, and we have committed significant resources across the company to ensure we meet or exceed the various international laws. We have robust processes to handle this complexity, which include audits, corrective actions and other continuous improvements.

Has SLB expanded operations in Russia?

No. Because of its adherence to international sanctions and its self-imposed restrictions on technology access, SLB's presence in Russia began decreasing after 2022 and continues to decline in 2024. The number of employees, contracts, and revenue have all declined.

Has SLB gained market share or assets from competitors that have left the region?

No. Activity for the Russia business has declined significantly through 2023, and we expect this trend to continue in 2024. The Russian market remains competitive, as local companies (including the successors to the different service companies who have ceased operations in Russia) continue to bid on work and maximize their own in-country assets while providing services to the Russian customer base.

What percentage of SLB revenue does Russia represent?

Russia represents a small, yet declining percentage of SLB’s global revenue. Russia was less than 5 percent of our revenue in 2023, and we anticipate full-year 2024 revenue from Russia to be lower than 2023.

Is the total number of employees in Russia decreasing?

Yes. Our workforce has declined in country since the invasion, and we anticipate that trend will continue. All hiring during 2023 and 2024 was to replace headcount reductions due to attrition and the seasonal slow-down and was not due to new investment in Russia.