Driving energy innovation for a balanced planet

We talk a lot about the idea of a balanced planet, but what does that mean? At SLB, we believe a balanced planet requires a balanced energy system—one that can meet growing demand while producing less emissions. This isn't about scaling back energy production; it's about embracing a broader mix of sources to produce energy more sustainably.

Over the past few years, SLB has initiated a strategic transformation to align with this vision, becoming a global technology company driving energy innovation for a balanced planet. Today, we are creating technologies to unlock access to energy for the benefit of all, working across our three engines of growth to enable lower-carbon oil and gas production while scaling the renewable energy systems of tomorrow.

In our Core, we are accelerating the deployment of Transition Technologies™ to produce lower-carbon barrels and reduce methane emissions. In Digital, we are harnessing the power of AI and machine learning for performance and efficiency. And in New Energy, we are scaling breakthrough technologies and extending our expertise to mitigate emissions in hard-to-abate industrial sectors. Across each of these areas, we are reimagining how we work, guided by our sustainability priorities of climate action, people, and nature.

These actions are not only the right thing for the planet, they are also positioning our business for lasting success. We have a broad portfolio that will benefit from investment across many energy sources, and we believe that our values are a differentiator for our customers, partners, and employees. Combined, we have built a solid foundation for growth across all time horizons, but there is more work to do, and we are fully committed to achieving our sustainability goals.

Reflecting on 2024, we continued to make strides on our journey to reduce Scope 1, 2, and 3 emissions, achieving our first interim target of reducing Scope 1 and 2 absolute emissions by 30% from our 2019 baseline. Additionally, we reached a key milestone in our long-term talent management strategy with women representing 25% of our global salaried workforce at the end of 2024.

To our teams, customers, and partners, thank you for your collaboration and dedication. I look forward to building on this momentum and expanding our impact in the year ahead.

Olivier Le Peuch
Chief Executive Officer