Schlumberger Sells its Remaining Holding in Atos Origin

Schlumberger Limited announced today that its subsidiaries, Schlumberger Investments Limited and Schlumberger S.A., have sold their entire residual holding in Atos Origin, amounting to a total of 9.7 million ordinary shares of Atos Origin, at a price of €48.50 per share in a private placement to institutional investors.
atos_origin.gifFollowing completion of the sale, which is subject to customary conditions, Schlumberger will not retain any participation in Atos Origin.

Schlumberger expects to apply the proceeds to reduce net debt.

Schlumberger and Atos Origin confirm the previously announced agreement whereby Atos Origin will provide outsourcing and systems integration services to Schlumberger over a maximum period of 7 years, up to a contract value of $700 million.

About Schlumberger

schlumberger.jpgSchlumberger is the world's leading oilfield services company supplying technology, project management and information solutions that optimize performance for customers working in the oil and gas industry. The company employs more than 50,000 people of over 140 nationalities working in 100 countries, and comprises two primary business segments. Schlumberger Oilfield Services supplies a wide range of products and services from formation evaluation through directional drilling, well cementing and stimulation, well completions and productivity to consulting, software, information management and IT infrastructure services that support core industry operational processes. WesternGeco, jointly owned with Baker Hughes, is the world's largest seismic company and provides advanced acquisition and data processing services. In 2003, Schlumberger operating revenue was $11.4 billion. For more information, visit slb.com.
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