A year after Schlumberger rebranded to SLB and dropped the family name of the founding brothers, the oil-field services leader is seeing the benefits that change is having on reinventing itself as a new energy company.
The business, which started in France as the Electric Prospecting Company and then Schlumberger, created its SLB name last year to signal a refocus on newer energy services, such as carbon-capture technology and the development of hydrogen, geothermal energy and geo-energy. SLB predicts that new energy should be a $10 billion-a-year business by 2040, up from just from a tiny fraction of that amount now.
