The world’s biggest offshore drilling company has rebranded.

The rebranding signifies the corporation’s move to a more low-carbon future. “We believe that we have an opportunity in selected markets and selected domains to innovate and scale solutions for clean energy.” shares Olivier Le Peuch in a press release about the rebranding.

Founded in 1926 as the Electric Prospecting Company, Schlumberger Limited (more known as SLB) is a French oilfield service company. It is the largest offshore drilling company in the world, as well as the biggest offshore drilling contractor globally. SLB was founded and is currently headquartered in Paris, France but also has offices in the Netherlands, Texas, and London.

SLB services are worldwide and is a Fortune 500 Global Company. The company trades in several stock exchanges, such as the New York, London, and Swiss Stock Exchanges. 

Beyond being in the oil industry, SLB is also heading towards being a global technology company as well. As of recently, the company is looking at other energy sources beyond oil and gas and implementing AI technology to innovate its operations. 

Though they are still working on having oil and gas as an energy source, SLB is exploring ways how to abate its carbon emissions by reducing its footprint and methane production, as well as using carbon capturing and sequestration.

As of 2020, SLB has gained a revenue of $24 billion.