Schlumberger Acquires Integrated Exploration Systems, Inc.

Extends Services to Cover Full Exploration Workflow
HOUSTON, June 2008 - Schlumberger announced today that it has acquired IES Integrated Exploration Systems, the Aachen, Germany-based supplier of advanced petroleum systems modeling software and services for the exploration and production (E&P) industry.

IES specializes in the modeling of the generation, migration and entrapment of oil and gas using the industry-leading software PetroMod. This technology is used to estimate undiscovered hydrocarbons in frontier basins and to enable oil and gas companies to mitigate risk in exploration prospects.

“The combination of IES expertise with WesternGeco and Schlumberger technology will enable us to provide our customers with fully integrated exploration services,” said Dalton Boutte, president of WesternGeco and executive vice president of Schlumberger. “IES is highly respected in the industry, and their expertise complements our portfolio of seismic, controlled source electromagnetics, and magnetotellurics technologies, as well as enhancing our multiclient library.”

In order to help meet growing global demand for hydrocarbon resources, oil and gas companies are looking more toward exploration. The combination of surface seismic data with key Schlumberger measurement technologies, integrated with petroleum systems modeling and other risk management technologies, will lead to reduced uncertainties and enable customers to better manage their exploration risk. IES software and expertise will form a key part of this process.

“This is a very positive development for our employees and our customers,” said Dr. Bjorn Wygrala, managing director for IES business development.

“As a Schlumberger company, our geoscientists can further develop advanced exploration solutions with access to the industry’s leading oilfield technology as well as substantial R&D resources,” said Dr. Thomas Hantschel, managing director for IES product development.

There are 40 employees in IES, most of whom are in Aachen, Germany. The Aachen location will become a Schlumberger Center of Excellence for Petroleum Systems Modeling.