Schlumberger CEO to Retire; Paal Kibsgaard to Succeed as New CEO

Schlumberger Limited SLB announced today that Andrew Gould, Chairman and Chief Executive Officer of Schlumberger Limited will retire as Chief Executive Officer effective August 1st 2011. Mr. Gould will continue to serve as Chairman of the Board until the annual general meeting of the company's stockholders in April 2012. It is the Board's intention that its directors will select the current independent lead director, Tony Isaac, to be the new non-executive Chairman upon Mr. Gould's departure. Andrew Gould will be succeeded as Chief Executive Officer by Paal Kibsgaard, Chief Operating Officer of Schlumberger Limited.