BAKU, Azerbaijan, July 24. Schlumberger (SLB), a US-based global technology company, saw a 20 percent increase in revenues in the second quarter of 2023, as compared to the same period in 2022, Trend reports.
Schlumberger Limited is an oilfield services company. As of 2022, it is both the world's largest offshore drilling company and the world's largest offshore drilling contractor by revenue.
The company’s revenues stood at $8.099 billion in 2Q2023, compared to $6.773 billion in the same quarter of 2022.
Net income attributable to SLB - GAAP basis amounted to $1.033 billion in the second quarter of this year, versus $959 million in the same period in 2022.
As for the revenues per division, well construction saw the highest increase of 25 percent year-on-year, with income rising from $2.686 billion to $3.362 billion. Production systems and reservoir performance also saw a 22 percent and 23 percent increase, respectively. Digital & Integration was the only division, which recorded a 1 percent decrease in this period.
During the second quarter, the company achieved remarkable results, with significant growth in international markets, particularly in the Middle East & Asia, and offshore sectors. Despite a decline in the North America rig count, its agility across resilient basins and market segments enabled sequential revenue growth in the region. The growth in international and offshore operations has led to robust pretax segment operating margin expansion and strong cash flows, as evident in this quarter's results. The company's strategic positioning in these markets is solid, with international revenue accounting for nearly 80 percent of its global revenue and offshore making up approximately half of that. The broad revenue growth seen both sequentially and year-on-year has resulted in expanded margins across all divisions and geographical areas.
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