UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT ~~UNDER~~PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934


For the Quarter ended: ~~March 31,~~June 30, 2005		Commission file No.: 1-4601

SCHLUMBERGER N.V.

(SCHLUMBERGER LIMITED)

(Exact name of registrant as specified in its charter)

NETHERLANDS ANTILLES

52-0684746

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)


153 EAST 53^rd STREET, 57^th Floor NEW YORK, NEW YORK, U.S.A.		10022

42, RUE SAINT-DOMINIQUE PARIS, FRANCE		75007

PARKSTRAAT 83
THE HAGUE, THE NETHERLANDS		2514 JG
(Addresses of principal executive offices)		(Zip Codes)

Registrant’s telephone ~~number:~~number in the United States, including area code: (212) 350-9400

Indicate by check mark whether Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months and (2) has been subject to such filing requirements for the past 90 days. YESx NO ¨

Indicate by check mark whether the Registrant is an accelerated filer (as defined in Rule 12b-2 of the Exchange Act). YESx NO ¨

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.


Class		Outstanding at ~~March 31,~~June 30, 2005
COMMON STOCK, $0.01 PAR VALUE		~~589,174,503~~588,301,524

PART I. FINANCIAL INFORMATION

Item 1: Financial Statements

SCHLUMBERGER LIMITED

(Schlumberger N.V., Incorporated in the Netherlands Antilles)

and Subsidiary Companies

CONSOLIDATED STATEMENT OF INCOME

(Unaudited)

(Stated in thousands except per share amounts)


							Period Ended June 30,
	Three Months Ended March 31,						Second Quarter						Six Months
	2005			2004			2005			2004			2005			2004
Operating revenue	$	3,159,111		$	2,672,968		$	3,428,632		$	2,833,600		$	6,587,743		$	5,506,568
Interest & other income		188,553			24,660			46,220			26,826			234,773			51,486
EXPENSES:
Cost of goods sold & services		2,405,132			2,121,067			2,546,684			2,230,974			4,951,816			4,352,041
Research & engineering		121,220			109,800			121,635			122,710			242,855			232,510
Marketing		10,062			8,710			14,566			10,475			24,628			19,185
General & administrative		85,422			76,262			90,895			81,859			176,317			158,121
Debt extinguishment costs		—			77,482			—			37,412			—			114,894
Interest		46,562			142,773			50,437			41,181			96,999			183,954

Income from Continuing Operations before taxes and minority interest		679,266			161,534			650,635			335,815			1,329,901			497,349
Taxes on income		137,696			45,826			162,123			75,708			299,819			121,534

Income from Continuing Operations before minority interest		541,570			115,708			488,512			260,107			1,030,082			375,815
Minority interest		(17,133	)		(8,270	)		(15,311	)		(2,856	)		(32,444	)		(11,126	)

Income from Continuing Operations		524,437			107,438			473,201			257,251			997,638			364,689
Income (Loss) from Discontinued Operations		(1,028	)		112,848

Income from Discontinued Operations								9,000			98,356			7,972			211,204

Net Income	$	523,409		$	220,286		$	482,201		$	355,607		$	1,005,610		$	575,893

Basic earnings per share:
Income from Continuing Operations	$	0.89		$	0.18		$	0.80		$	0.44		$	1.69		$	0.62
Income from Discontinued Operations		—			0.19			0.02			0.17			0.01			0.36

Net Income	$	0.89		$	0.37
Net Income *							$	0.82		$	0.60		$	1.71		$	0.98

Diluted earnings per share:
Income from Continuing Operations	$	0.87		$	0.18		$	0.78		$	0.43		$	1.65		$	0.62
Income from Discontinued Operations		—			0.19			0.01			0.16			0.01			0.34

Net Income *	$	0.86		$	0.37		$	0.80		$	0.59		$	1.66		$	0.96

Average shares outstanding:
Basic		589,333			587,738			588,741			589,883			589,037			588,810
Assuming dilution		613,765			592,755			612,982			613,380			613,374			612,620

*	Amounts may not add due to rounding

See Notes to Consolidated Financial Statements

-2-

SCHLUMBERGER LIMITED

(Schlumberger N.V., Incorporated in the Netherlands Antilles)

and Subsidiary Companies

CONSOLIDATED BALANCE SHEET

(Stated in thousands)


	Mar. 31, 2005 (Unaudited)			Dec. 31, 2004			June 30, 2005 (Unaudited)			Dec. 31, 2004
ASSETS

CURRENT ASSETS:
Cash	$	222,241		$	223,503		$	172,495		$	223,503
Short-term investments		2,817,783			2,773,922			2,740,985			2,773,922
Receivables less allowance for doubtful accounts (2005 - $112,817; 2004 - $114,403)		2,979,832			2,663,642
Receivables less allowance for doubtful accounts (2005 - $100,370; 2004 - $114,403)								3,056,509			2,663,642
Inventories		874,765			819,745			944,913			819,745
Deferred taxes		251,568			239,111			271,566			239,111
Other current assets		352,633			274,647			372,583			274,647
Assets held for sale		—			65,179			—			65,179

		7,498,822			7,059,749			7,559,051			7,059,749

FIXED INCOME INVESTMENTS, HELD TO MATURITY		228,750			203,750			312,750			203,750
INVESTMENTS IN AFFILIATED COMPANIES		909,707			883,598			902,422			883,598
FIXED ASSETS		3,774,730			3,761,729			3,920,597			3,761,729
MULTICLIENT SEISMIC DATA		309,783			346,522			276,031			346,522
GOODWILL		2,798,186			2,789,048			2,904,781			2,789,048
INTANGIBLE ASSETS		328,240			346,833			376,840			346,833
DEFERRED TAXES		342,108			343,584			345,924			343,584
OTHER ASSETS		212,484			265,964			294,222			265,964

	$	16,402,810		$	16,000,777		$	16,892,618		$	16,000,777

LIABILITIES & STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:
Accounts payable and accrued liabilities	$	3,028,360		$	2,980,790		$	3,281,193		$	2,980,790
Estimated liability for taxes on income		930,745			858,785			967,906			858,785
Dividend payable		124,611			111,136			124,285			111,136
Long-term debt - current portion		37,651			143,385			126,324			143,385
Bank & short-term loans		584,598			572,487			564,767			572,487
Liabilities held for sale		—			34,617			—			34,617

		4,705,965			4,701,200			5,064,475			4,701,200

LONG-TERM DEBT		3,946,058			3,944,180			3,779,437			3,944,180
POSTRETIREMENT BENEFITS		691,653			670,765			701,028			670,765
OTHER LIABILITIES		145,580			151,457			147,456			151,457

		9,489,256			9,467,602			9,692,396			9,467,602

MINORITY INTEREST		436,296			416,438			445,937			416,438

STOCKHOLDERS’ EQUITY:
Common stock		2,510,874			2,454,219			2,589,799			2,454,219
Income retained for use in the business		6,687,500			6,287,905			7,046,212			6,287,905
Treasury stock at cost		(1,723,958	)		(1,684,394	)		(1,870,668	)		(1,684,394	)
Accumulated other comprehensive loss		(997,158	)		(940,993	)		(1,011,058	)		(940,993	)

		6,477,258			6,116,737			6,754,285			6,116,737

	$	16,402,810		$	16,000,777		$	16,892,618		$	16,000,777

See Notes to Consolidated Financial Statements

-3-

SCHLUMBERGER LIMITED

(Schlumberger N.V., Incorporated in the Netherlands Antilles)

and Subsidiary Companies

CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited)

(Stated in thousands)


	Three Months Ended Mar. 31,						Six Months Ended June 30,
	2005			2004			2005			2004
Cash flows from operating activities:
Income from continuing operations	$	524,437		$	107,438		$	997,638		$	364,689
Adjustments to reconcile income from continuing operations to cash provided by operating activities:
Depreciation and amortization⁽¹⁾		328,465			325,610			654,981			645,627
Charges and credits, net of tax & minority interest⁽²⁾		(134,381	)		152,163
Credits and charges, net of tax & minority interest⁽²⁾								(134,381	)		185,861
Earnings of companies carried at equity, less dividends received		(23,506	)		(23,291	)		(49,175	)		(43,850	)
Increase in deferred taxes		(1,876	)		(66,659	)		(34,623	)		(69,903	)
Stock based compensation expense		8,845			6,458			18,816			12,732
Provision for losses on accounts receivable		5,807			5,174			9,166			14,478
Change in operating assets and liabilities excluding acquisitions/divestitures:
Increase in receivables		(331,263	)		(277,067	)		(343,542	)		(522,502	)
Increase in inventories		(55,737	)		(66,562	)		(114,393	)		(122,184	)
Increase in other current assets		(41,526	)		(2,108	)		(98,457	)		(4,512	)
Decrease in accounts payable and accrued liabilities		(18,820	)		(222,425	)
Increase (decrease) in accounts payable and accrued liabilities								59,666			(13,323	)
Increase in estimated liability for taxes on income		74,527			105,177			131,460			148,339
Increase in postretirement benefits		20,883			20,394			30,323			35,973
Other - net		(1,841	)		32,614			(46,862	)		(45,092	)

NET CASH PROVIDED BY OPERATING ACTIVITIES		354,014			96,916			1,080,617			586,333

Cash flows from investing activities:
Purchase of fixed assets		(315,381	)		(196,806	)		(699,364	)		(467,863	)
Multiclient seismic data capitalized		(16,071	)		(12,138	)		(27,589	)		(25,325	)
Capitalization of intangible assets		(9,027	)		(10,983	)		(10,824	)		(36,918	)
Proceeds from the sale of fixed assets & other		(762	)		5,795
Sale of Atos shares		—			613,440			—			1,164,662
Business acquisitions, net of cash acquired								(55,591	)		(12,134	)
Proceeds from business divestitures		21,871			696,613			34,340			1,535,658
Sale of Montrouge facility		229,801			—			229,801			—
Sale (purchase) of investments, net		(72,133	)		241,404			(93,970	)		583,673
Other								27,606			(62,064	)

NET CASH (USED) PROVIDED BY INVESTING ACTIVITIES		(161,702	)		1,337,325			(595,591	)		2,679,689

Cash flows from financing activities:
Dividends paid		(110,339	)		(109,849	)		(234,153	)		(220,224	)
Proceeds from employee stock purchase plan		5,837			39,367			41,966			3,733
Proceeds from exercise of stock options		45,775			82,572			76,600			120,766
Stock repurchase program		(73,007	)		—			(262,438	)		—
Proceeds from issuance of long-term debt		892,851			30,641			1,897,657			212,203
Debt extinguishment costs		—			(76,281	)		—			(111,034	)
Settlement of US Interest Rate Swap								—			(70,495	)
Payments of principal on long-term debt		(965,135	)		(1,618,497	)		(2,055,025	)		(3,296,795	)
Net increase in short-term debt		11,571			83,620
Net (decrease) increase in short-term debt								(7,629	)		29,884

NET CASH USED BY FINANCING ACTIVITIES		(192,447	)		(1,568,427	)		(543,022	)		(3,331,962	)

Discontinued operations		(1,028	)		57,445			7,972			967

Net decrease in cash before translation		(1,163	)		(76,741	)		(50,024	)		(64,973	)
Translation effect on cash		(99	)		(123	)		(984	)		987
Cash, beginning of period		223,503			234,192			223,503			234,192

CASH, END OF PERIOD	$	222,241		$	157,328		$	172,495		$	170,206

(1)	Includes multiclient seismic data costs.

(2)	See Note 2 –Charges and credits –Continuing Operations.

See Notes to Consolidated Financial Statements

-4-

SCHLUMBERGER LIMITED

(Schlumberger N.V., Incorporated in the Netherlands Antilles)

and Subsidiary Companies

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

(Unaudited)

(Stated in thousands)


																														Accumulated Other Comprehensive Income (Loss)
	Common Stock								Accumulated Other Comprehensive Income (Loss)												Common Stock					Retained Income				Marked to Market				Pension Liability				Translation Adjustment				Comprehensive Income (Loss)
	Issued		In Treasury			Retained Income			Marked to Market			Pension Liability			Translation Adjustment			Comprehensive Income (Loss)			Issued		In Treasury							Marked to Market				Pension Liability				Translation Adjustment				Comprehensive Income (Loss)
Balance, January 1, 2005	$	2,454,219	$	(1,684,394	)	$	6,287,905		$	52,773		$	(235,271	)	$	(758,495	)	$	—		$	2,454,219	$	(1,684,394	)	Retained Income			$	6,287,905			$	52,773			$	(235,271	)		$	(758,495	)		$	—
Net income							523,409												523,409								1,005,610																1,005,610
Hanover stock marked to market, net of tax										(17,938	)								(17,938	)											(22,814	)											(22,814	)
Derivatives marked to market, net of tax										(25,459	)								(25,459	)											(38,776	)											(38,776	)
Translation adjustment																224			224																				23,483				23,483
Minimum pension liability - (US/UK Plans)													(21,800	)					(21,800	)
Minimum pension liability																																			(43,430	)							(43,430	)
Tax benefit on minimum pension liability													8,808						8,808																11,472								11,472
Dividends declared							(123,814	)																			(247,303	)
Stock repurchase plan				(73,007	)																			(262,438	)
Proceeds from employee stock purchase plan		23,614		11,864
Proceeds from shares sold to optionees less shares exchanged		24,196		21,579
Employee stock purchase plan																						23,872		11,965
Proceeds from shares sold to optionees
less shares exchanged																						38,437		38,163
Shares granted to Directors																						1,012		486
Stock based compensation cost		8,845																				18,816
Shares issued on conversion of debentures																						5
Purchase of PetroAlliance																						53,438		25,550

Balance, March 31, 2005	$	2,510,874	$	(1,723,958	)	$	6,687,500		$	9,376		$	(248,263	)	$	(758,271	)	$	467,244
Balance, June 30, 2005																					$	2,589,799	$	(1,870,668	)	$	7,046,212			$	(8,817	)		$	(267,229	)		$	(735,012	)		$	935,545

SHARES OF COMMON STOCK

(Unaudited)


	Issued	In Treasury		Shares Outstanding		Issued	In Treasury		Shares Outstanding
Balance, January 1, 2005	667,106,015	(78,604,352	)	588,501,663		667,106,015	(78,604,352	)	588,501,663
Employee stock plan	—	607,794		607,794
Shares issued on conversion of debentures						67	—		67
Employee stock purchase plan						—	612,924		612,924
Stock repurchase plan	—	(1,012,700	)	(1,012,700	)	—	(3,777,700	)	(3,777,700	)
Shares sold to optionees less shares exchanged	—	1,077,746		1,077,746		—	1,792,247		1,792,247
Purchase of PetroAlliance						—	1,150,323		1,150,323
Shares granted to Directors						—	22,000		22,000

Balance, March 31, 2005	667,106,015	(77,931,512	)	589,174,503
Balance, June 30, 2005						667,106,082	(78,804,558	)	588,301,524

See Notes to Consolidated Financial Statements

-5-

SCHLUMBERGER LIMITED

(Schlumberger N.V., Incorporated in the Netherlands Antilles)

and Subsidiary Companies

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1.Basis of Presentation

The accompanying unaudited consolidated financial statements, which include the accounts of Schlumberger Limited (“Schlumberger”) and its subsidiaries, have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included in the accompanying unaudited financial statements. All intercompany transactions and balances have been eliminated in consolidation. Operating results for the ~~three~~six month period ended ~~March 31,~~June 30, 2005 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2005. The December 31, 2004 balance sheet information has been derived from the audited 2004 financial statements. For further information, refer to theConsolidated Financial Statements and notes thereto, included in Schlumberger’s Annual Report on Form 10-K for the fiscal year ended December 31, 2004, filed with the Securities and Exchange Commission on March 4, 2005.

Certain items from prior year have been reclassified to conform to the current year presentation.

2.Credits and Charges ~~and Credits–~~– Continuing Operations

2005

In March 2005, Schlumberger sold its facility in Montrouge, France to a third party for $230, million resulting in a pretax and after-tax gain of approximately $146 million, which is classified inInterest and other income in theConsolidated Statement of Income. ~~This transaction included the utilization of a deferred tax asset that was previously offset by a valuation allowance of approximately $51 million.~~ Schlumberger also recorded other real estate related pretax charges of approximately $12 million ($11 million after-tax), which are classified inCost of goods sold & services in theConsolidated Statement of Income.

2004

Debt Extinguishment Costs

In June 2004, Schlumberger Technology Corporation bought back and retired $351 million of its outstanding $1 billion 6.5% Notes due 2012. As a result, Schlumberger recorded a pretax charge of $37 million ($23 million after-tax), which included market premium and transaction costs.

In March 2004, Schlumberger plc (SPLC) accepted tenders for the outstanding £175 million SPLC 6.50% Guaranteed Bonds due 2032. In addition, Schlumberger SA (SSA) bought back €25 million of the outstanding €274 million SSA 5.25% Guaranteed Bonds due 2008 and €7 million of the outstanding €259 million SSA 5.875% Guaranteed Bonds due 2011. As a result, Schlumberger recorded a pretax and after-tax charge of $77 million, which included market and tender premiums, and transaction costs. ~~This charge is~~

The above pretax charges are classified inDebt extinguishment costs in theConsolidated Statement of Income.

Other Credits and Charges

Schlumberger Technology Corporation paid off its commercial paper program in the US. As a result, the $500 million US interest-rate swaps that were designated as cash-flow hedges became ineffective. Schlumberger recorded a pretax non-cash chargeSecond quarter of ~~$73 million ($46 million after-tax) to recognize unrealized losses previously recorded in~~~~Other Comprehensive Income.~~ ~~The pretax charge is classified in~~~~Interest expense~~ ~~in the~~~~Consolidated Statement of Income~~.2004:

Schlumberger sold 9.6 million ordinary shares of Atos Origin SA at a price of €52.95 per share. The net proceeds for the sale were $625 million and Schlumberger recorded a pretax and after-tax loss of $14 million on this transaction, which reflects both banking fees and currency effect. The pretax charge is classified in~~Interest and other income~~ ~~in the~~~~Consolidated Statement of Income~~.

•

Schlumberger sold 9.7 million ordinary shares of Atos Origin SA at a price of €48.50 per share. The net proceeds for the sale were $551 million and Schlumberger recorded a pretax and after-tax loss of $7 million on this transaction, which reflects both banking fees and currency effect. The pretax charge is classified inInterest and other income in theConsolidated Statement of Income. As a result of this transaction Schlumberger does not have any remaining ownership interest in Atos Origin SA.

-6-

•

In connection with its restructuring program, in order to reduce overhead, Schlumberger recorded a pretax and after-tax charge of $4 million related to employee terminations. This charge is classified inCost of goods sold & services in theConsolidated Statement of Income.

~~Schlumberger had commenced a restructuring program~~

•

Schlumberger Technology Corporation settled its US Interest Rate Swaps resulting in ~~order to reduce overhead. Consequently,~~ a pretax gain of $10 million ($6 million after-tax), which is classified inInterest Expense in theConsolidated Statement of Income.

•

Schlumberger recorded a pretax and after-tax charge of $11 million related to a vacated leased facility in the UK, which is classified inCost of goods sold & services in theConsolidated Statement of Income.

•

Schlumberger recorded a pretax and after-tax credit of $5 million related to the release of a litigation reserve that was no longer required, which is classified inCost of goods sold & services in theConsolidated Statement of Income.

First quarter of ~~$20 million ($14 million after-tax) was taken in the quarter related to a voluntary early retirement program in the United States and is classified in~~~~Cost of goods sold~~ ~~& services~~ ~~in the~~~~Consolidated Statement of Income~~.2004:

•

Schlumberger Technology Corporation paid off its commercial paper program in the US. As a result, the $500 million US interest-rate swaps that were designated as cash-flow hedges became ineffective. Schlumberger recorded a pretax non-cash charge of $73 million ($46 million after-tax) to recognize unrealized losses previously recorded inOther Comprehensive Income. The pretax charge is classified inInterest expense in theConsolidated Statement of Income.

•

Schlumberger sold 9.6 million ordinary shares of Atos Origin SA at a price of €52.95 per share. The net proceeds for the sale were $625 million and Schlumberger recorded a pretax and after-tax loss of $14 million on this transaction, which reflects both banking fees and currency effect. The pretax charge is classified inInterest and other income in theConsolidated Statement of Income.

•

Schlumberger commenced a restructuring program in order to reduce overhead. Consequently, a pretax charge of $20 million ($14 million after-tax) was taken in the quarter related to a voluntary early retirement program in the United States and is classified inCost of goods sold & services in theConsolidated Statement of Income.

The following is a summary of the above 2004 charges:


		(Stated in millions)
( Stated in millions )							( Stated in millions )

	Pretax		Tax		Net			Pretax			Tax			Net
Charges & Credits:
- Debt extinguishment costs	$	77	$	—	$	77		$	115		$	14		$	101
- Restructuring program charges		20		6		14			24			6			18
- Loss on sale of Atos Origin shares		14		—		14			21			—			21
- US interest-rate swap settlement gain									(10	)		(4	)		(6	)
- Vacated leased facility charge									11			—			11
- Litigation reserve release									(5	)		—			(5	)
- Loss recognized on interest-rate swaps		73		27		46			73			27			46

	$	184	$	33	$	151		$	229		$	43		$	186

3.Business Divestitures – Discontinued Operations

During the second quarter of 2005, Credence Systems Corporation, the current owners of Schlumberger’s former NPTest semiconductor testing business, agreed to settle an outstanding contingent liability by paying Schlumberger $4 million in cash and 615,157 shares of common stock valued at approximately $5 million. Schlumberger sold its NPTest semiconductor testing business in July 2003 and reported it as a discontinued operation. This $9 million pretax and after-tax gain is reported asDiscontinued Operations in theConsolidated Statement of Income in the second quarter of 2005.

-7-

During the first quarter of 2005, Schlumberger completed the sales of its Global Tel*Link, Public Phones and Essentis businesses for $18 million in cash. At December 31, 2004, the assets and liabilities of these businesses that were subsequently eliminated from Schlumberger’sConsolidated Balance Sheet, were aggregated and presented asAssets held for sale ($65 million) andLiabilities held for sale ($35 million).

During 2004, Schlumberger completed the sales of the following businesses: SchlumbergerSema, ~~Telcom~~Telecom Billing Software, Infodata, Business Continuity, Axalto, Electricity Metering North America and Telecom Messaging.

During the first quarter of 2004, Schlumberger recognized gains, net of taxes, related to the divestitures of SchlumbergerSema, Telecom Billing Software and Infodata of $26 million, $17 million and $48 million, respectively. The results of all of these divested ~~business~~businesses are reported asDiscontinued Operations in theConsolidated Statement of Income.

During the second quarter of 2004, Schlumberger recognized gains, net of taxes, related to the divestitures of SchlumbergerSema and Business Continuity of $15 million and $48 million, respectively, and losses, net of taxes, related to the divestitures of Axalto and Electricity Metering North America of $7 million and $24 million, respectively. The results of all of these divested businesses are reported asDiscontinued Operations in theConsolidated Statement of Income. In addition, the sale of Electricity Metering North America allowed for the recognition of a deferred tax asset of $49 million, which was previously offset by a valuation allowance, related to a tax loss carryforward associated with the sale of SchlumbergerSema. Such amount was recognized as a gain withinDiscontinued Operations in theConsolidated Statement of Income during the second quarter of 2004.

The following table summarizes the results of these discontinued ~~operations during the first quarter of 2005 and 2004:~~operations:

   (Stated in millions)
Three months ended March 31,

   2005
2004
Revenue
   $ —   $ 364
Income (loss) before tax
   (1 ) 28
Tax expense
   —   6
Gains on disposal, net of tax
   —   91


Income from discontinued operations
   $ (1 ) $ 113

~~-7-~~(Stated in millions)


	Second Quarter				Six Months
	2005		2004		2005		2004
Revenue	$	—	$	23	$	—	$	386

Income before tax	$	9	$	27	$	8	$	55
Tax expense		—		10		—		16
Gains on disposal, net of tax		—		81		—		172

Income from discontinued operations	$	9	$	98	$	8	$	211

-8-

4.Earnings Per Share

The following is a reconciliation from basic earnings per share to diluted earnings per share from continuing operations:

(Stated in thousands except per share amounts)


	2005					2004					2005					2004
Three Months	Income from Continuing Operations		Average Shares Outstanding	Earnings Per Share from Continuing Operations		Income from Continuing Operations		Average Shares Outstanding	Earnings Per Share from Continuing Operations
											Income from Continuing Operations		Average Shares Outstanding	Earnings Per Share from Continuing Operations		Income from Continuing Operations		Average Shares Outstanding	Earnings Per Share from Continuing Operations
Second Quarter

Basic	$	524,437	589,333	$	0.89	$	107,438	587,738	$	0.18	$	473,201	588,741	$	0.80	$	257,251	589,883	$	0.44

Dilutive effect of convertible debentures		7,197	19,105				—	—				7,197	19,105				7,197	19,105
Dilutive effect of options		—	5,327				—	5,017				—	5,136				—	4,392

Diluted	$	531,634	613,765	$	0.87	$	107,438	592,755	$	0.18	$	480,398	612,982	$	0.78	$	264,448	613,380	$	0.43


											Income from Continuing Operations		Average Shares Outstanding	Earnings Per Share from Continuing Operations		Income from Continuing Operations		Average Shares Outstanding	Earnings Per Share from Continuing Operations
Six Months

Basic											$	997,638	589,037	$	1.69	$	364,689	588,810	$	0.62

Dilutive effect of convertible debentures												14,394	19,105				14,394	19,105
Dilutive effect of options												—	5,232				—	4,705

Diluted											$	1,012,032	613,374	$	1.65	$	379,083	612,620	$	0.62

~~At March 31, 2005 and 2004, approximately 8.1 million and 12.4 million, respectively,~~The number of outstanding options to purchase shares of common stock which were not included in the computation of diluted earnings per share because to do so would have had an antidilutive ~~effect. In addition,~~effect, were as follows:


(Stated in millions)

	2005	2004
Second quarter	8.0	11.3

Six months	8.0	11.3

5.Acquisitions

On December 9, 2003, Schlumberger announced that it had signed an agreement to acquire PetroAlliance Services Company Limited (“PetroAlliance Services”) over a 3-year period. Schlumberger acquired 26% of PetroAlliance Services in the ~~computation~~second quarter of ~~diluted earnings per share~~2004 for $12 million in cash and 421,870 shares of Schlumberger common stock valued at ~~March~~$24 million. During the second quarter of 2005 Schlumberger acquired an additional 25% of PetroAlliance Services for $40 million in cash and 1,150,323 shares of Schlumberger common stock valued at $79 million bringing its total ownership interest to 51%.

Under the terms of the agreement, the remaining 49% interest may be acquired in the second quarter of 2006, subject to performance requirements and other customary conditions. The acquisition price will continue to be determined by a performance-based formula, and paid one-third in cash and two-thirds in Schlumberger stock.

Schlumberger began consolidating the results of PetroAlliance Services in the second quarter of 2005. This investment had previously been accounted under the equity method.

-9-

The $119 million purchase price paid in the second quarter of 2005 has been preliminarily allocated to the assets acquired and the liabilities assumed according to their fair value at the date of the transaction as follows:


(Stated in millions)

Cash	$	8
Accounts receivable		61
Fixed assets		61
Other assets		18
Goodwill		76
Other intangible assets		58

Total assets acquired	$	282

Accounts payable and accrued liabilities	$	42
Long-term debt - current portion		53
Long-term debt		5
Minority interest		25

Total liabilities acquired	$	125

Sub-total	$	157
Less: proportionate share of net assets
previously held through equity investment		(38	)

Net assets acquired	$	119

Approximately $76 million has been allocated to goodwill, which represents the excess of the purchase price over the fair value of the net assets acquired. This goodwill is not tax deductible. Schlumberger is awaiting the final results of a third-party valuation regarding certain assets acquired. Any potential adjustment to goodwill are expected to be recorded during the three months ended September 30, 2005. The amounts preliminarily allocated to other intangible assets primarily relate to customer relationships.

PetroAlliance Services’ revenue during the year ended December 31, 2004 ~~also excludes~~was approximately $218 million.

During the ~~effects~~second quarter of 2005 Schlumberger acquired Diamould Limited, a firm specializing in electrical power and instrumentation, hydraulic and fiber-optic connector solutions used in subsea, downhole and deepwater applications, for approximately ~~19.1 million common shares issuable upon conversation of~~$14 million.

Pro forma results pertaining to these acquisitions are not presented as the ~~1.5% Series A Convertible Debentures and the 2.125% Series B Convertible Debentures as their inclusion would have also had an anti-dilutive effect.~~impact was not significant.

5.6.Investments in Affiliated Companies

Schlumberger and Smith International Inc. operate a drilling fluids joint venture of which Schlumberger owns a 40% interest and records income using the equity method of accounting. Schlumberger’s investment on ~~March 31,~~June 30, 2005 was ~~$739~~$774 million and on December 31, 2004 was $716 million. Schlumberger’s equity income from this joint venture, which is included inInterest and other income in theConsolidated Statement of Income, was ~~$19~~$21 million in the ~~first~~second quarter of 2005 ($15 million in 2004) and ~~$17~~$40 million in the ~~first quarter of 2004.~~six months ended June 30, 2005 ($32 million in 2004).

6.7.Securitization

A wholly owned subsidiary of Schlumberger has an agreement to sell, on an ongoing basis, up to $250 million of an undivided interest in its accounts receivable. The amount currently drawn under this agreement totaled $194 million at ~~March 31,~~June 30, 2005. Unless extended by amendment, the agreement expires in September 2005. Schlumberger does not have any retained interest in the accounts receivable sold under this agreement.

-10-

7.8.Inventory

A summary of inventory follows:


		(Stated in millions)
(Stated in millions)							(Stated in millions)

	Mar. 31 2005			Dec. 31 2004				June 30 2005			Dec. 31 2004
Raw Materials & Field Materials	$	851		$	812			$	924		$	812
Work in Process		77			59				80			59
Finished Goods		70			74				69			74

		998			945				1,073			945
Reserves		(123	)		(125	)			(128	)		(125	)

	$	875		$	820			$	945		$	820

~~-8-~~

8.9.Fixed Assets

A summary of fixed assets follows:


				~~(Stated in millions~~	)


(Stated in millions)					(Stated in millions)

	Mar. 31 2005		Dec. 31 2004			June 30 2005		Dec. 31 2004
Property plant & equipment	$	11,101	$	11,069		$	11,326	$	11,069
Less: Accumulated depreciation		7,326		7,307			7,405		7,307

	$	3,775	$	3,762		$	3,921	$	3,762

9.10.Multiclient Seismic Data

The change in the carrying amount of multiclient seismic data is as follows:


		~~(Stated in millions~~	)


(Stated in millions)				(Stated in millions)

Balance at December 31, 2004	$	347			$	347
Capitalized in period		16				28
Charged to cost of goods sold & services		(53	)			(99	)

Balance at March 31, 2005	$	310
Balance at June 30, 2005					$	276

~~10.~~11.Goodwill

The changes in the carrying amount of goodwill by business segment for the ~~three~~six months ended ~~March 31,~~June 30, 2005 are as follows:


				~~(Stated in millions)~~


(Stated in millions)									(Stated in millions)

	Oilfield Services			Western Geco		Total				Oilfield Services			Western Geco		Total
Balance at December 31, 2004	$	2,545			244	$	2,789			$	2,545		$	244	$	2,789
Additions		8			—		8				117			4		121
Other		6			—		6				6			—		6
Impact of change in exchange rates		(5	)		—		(5	)			(11	)		—		(11	)

Balance at March 31, 2005	$	2,554		$	244	$	2,798
Balance at June 30, 2005										$	2,657		$	248	$	2,905

-11-

~~11.~~12.Intangible Assets

A summary of intangible assets follows:


				~~(Stated in millions~~	)


(Stated in millions)					(Stated in millions)

	Mar. 31 2005		Dec. 31 2004			June 30 2005		Dec. 31 2004
Gross book value	$	592	$	591		$	652	$	591
Less: Accumulated amortization		264		244			275		244

	$	328	$	347		$	377	$	347

~~The amortization charged to income~~Amortization expense was ~~$20~~$18 million ~~during the first quarter of 2005~~ and ~~$21~~$38 million for the ~~same period in 2004.~~three and six months ended June 30, 2005, respectively, and $22 million and $39 million for the three and six months ended June 30, 2004, respectively.

~~-9-~~

At ~~March 31,~~June 30, 2005, the gross book value, accumulated amortization and amortization periods of intangible assets were as follows:


(Stated in millions)						(Stated in millions)
		(Stated in millions)
	Gross Book Value		Accumulated Amortization		Amortization Periods		Gross Book Value		Accumulated Amortization		Amortization Periods
Software	$	406	$	147	5 - 10 years		$	413	$	157	5 -10 years
Technology		147		83	5 - 10 years			147		88	5 -10 years
Patents		12		8	5 - 10 years			12		8	5 -10 years
Other		27		26	1 - 15 years			80		22	1 -15 years

	$	592	$	264			$	652	$	275

The weighted average amortization period for all intangible assets is approximately 67 years.

Based on the balance of intangible assets at June 30, 2005, the annual amortization expense for each of the succeeding five fiscal years is estimated to be approximately: 2006 - $85 million, 2007 - $67 million, 2008 - $50 million, 2009 - $31 million and 2010 - $26 million. Amortization expense for the six months ended December 31, 2005 is estimated to be approximately $40 million.

~~12.~~13.Stock Compensation Plans

As of ~~March 31,~~June 30, 2005, Schlumberger had two types of stock-based compensation plans which are described in Schlumberger’s 2004 Annual Report on Form 10-K. Schlumberger recorded stock-based compensation expense in theConsolidated Statement of Income under the fair value recognition provisions of SFAS Nos. 123 and 148 commencing in the third quarter of 2003, on a prospective basis for grants after January 1, 2003. The effect of stock based compensation expense on net income was $10.0 million in the ~~first~~second quarter of 2005 ~~was $8.8~~($6.3 million in the ~~first~~second quarter of 2004) and $18.8 million during the six months ended June 30, 2005 ~~and $6.5~~($12.7 million infor the ~~first quarter~~six months ended June 30, 2004). Schlumberger applies the intrinsic value method of ~~2004. Schlumberger applied~~ APB Opinion 25 for grants prior to January 1, 2003. Had compensation cost for the stock-based Schlumberger plans been determined based on the fair value at the grant dates for awards prior to January 1, 2003, consistent with the method of SFAS 123, ~~Schlumberger~~Schlumberger’s net income and earnings per share would have been the pro forma amounts indicated below:

(Stated in millions except per share amounts)

   Period Ended March 31,

   2005
2004

Net income

As reported
   $ 523 $ 220
Proforma adjustments:

Cost of Stock Options
   (6 ) (14 )
Tax benefit
   1 1


Proforma
   $ 518 $ 207


Basic earnings per share

As reported
   $ 0.89 $ 0.37
Proforma adjustments:

Cost of Stock Options
   (0.01 ) (0.02 )


Pro forma
   $ 0.88 $ 0.35


Diluted earnings per share

As reported
   $ 0.86 $ 0.37
Proforma adjustments:

Cost of Stock Options
   (0.01 ) (0.02 )


Pro forma
   $ 0.85 $ 0.35

-12-

(Stated in millions except per share amounts)


	Second Quarter						Six Months
	2005			2004			2005			2004
Net income
As reported	$	482		$	356		$	1,006		$	576
Pro forma adjustments:
Cost of Stock Options		(4	)		(10	)		(10	)		(24	)
Tax benefit		1			1			2			2

Pro forma	$	479		$	347		$	998		$	554

Basic earnings per share
As reported	$	0.82		$	0.60		$	1.71		$	0.98
Pro forma adjustments:
Cost of Stock Options		(0.01	)		(0.02	)		(0.02	)		(0.04	)

Pro forma	$	0.81		$	0.58		$	1.69		$	0.94

Diluted earnings per share
As reported	$	0.80		$	0.59		$	1.66		$	0.96
Pro forma adjustments:
Cost of Stock Options		(0.01	)		(0.02	)		(0.02	)		(0.04	)

Pro forma	$	0.79		$	0.57		$	1.64		$	0.92

In December 2004, the Financial Accounting Standards Board issued SFAS 123R(Share-Based Payment.)The standard amends SFAS 123 (Accounting for Stock Based Compensation) and concludes that services received from employees in exchange for stock-based compensation results in a cost to the employer that must be recognized in the financial statements. The cost of such awards should be measured at fair value at the date of grant. SFAS 123R provides public companies with a choice of transition methods to implement the standard. Schlumberger will apply the modified prospective method whereby compensation cost will be recognized for the unamortized portion of vested awards outstanding at January 1, 2006, the effective date of SFAS 123R, and granted after January 1, 1995. Such cost will be recognized in Schlumberger’s financial statements over the remaining vesting period. As described above, in 2003 Schlumberger adopted the fair value recognition provisions of SFAS Nos. 123 and 148 on a prospective basis for grants after January 1, 2003. Therefore, effective January 1, 2006, Schlumberger will have to apply the provisions of SFAS 123R to

~~-10-~~

the unvested portion of awards granted during the period of January 1, 1995 to December 31, 2002. The adoption of this standard is ~~currently~~ expected to reduce Schlumberger’s earnings by approximately ~~$23~~$20 million in 2006 and $6$5 million in 2007.

~~13.~~14.Income Tax

Pretax book income from continuing operations subject to US and non-US income taxes was as follows:


		(Stated in millions)
(Stated in millions)					(Stated in millions)

	First Quarter					Second Quarter				Six Months
	2005		2004			2005		2004		2005		2004
United States	$	182	$	3		$	220	$	46		402		49
Outside United States		497		159			431		290		928		448

Pretax income	$	679	$	162		$	651	$	336	$	1,330	$	497

Schlumberger reported pretax charges and credits in continuing operations ~~during the first quarters of~~in 2005 and 2004. ~~These are more fully described in Note 2~~ ~~- Charges and credits – Continuing Operations~~~~. US pretax results in~~During the first quarter of 2005, ~~included~~Schlumberger recorded a net pretax credit of $134 million ($2 million of charges in the US; $136 million of net credits outside of the US). During the second quarter of 2004, Schlumberger recorded pretax net charges of ~~$2 million. Outside the US, the pretax results~~$44 million ($28 million in the ~~first quarter~~US; $16 million outside of ~~2005 included a net credit of approximately $136 million, primarily relating to~~ the ~~sale of a facility. The US pretax results in the~~US). During first quarter of 2004, ~~included~~Schlumberger recorded pretax net charges of ~~$93~~$184 million ~~related to~~($93 million in the ~~US Interest Rate Swap and the restructuring program. Outside the US, pretax results included charges of~~US; $91 million ~~related to~~outside of the ~~debt extinguishment costs~~US). These charges and ~~the loss on sale of Atos Origin common stock.~~credits are described in detail in Note 2 –Credits and Charges – Continuing Operations.

-13-

The components of net deferred tax assets were as follows:


		(Stated in millions)
(Stated in millions)					(Stated in millions)

	Mar. 31 2005		Dec. 31 2004			Jun. 30 2005		Dec. 31 2004
Postretirement and other long-term benefits	$	254	$	251		$	252	$	251
Current employee benefits		138		123			157		123
Fixed assets, inventory and other		188		196			195		196
Net operating losses		14		13			13		13

	$	594	$	583		$	617	$	583

The deferred tax assets relating to net operating losses at ~~March 31,~~June 30, 2005 and December 31, 2004 are net of valuation allowances in certain countries of ~~$254~~$240 million and $312 million, respectively.

As described in Note 2Credits and Charges – Continuing Operations,Schlumberger sold its facility in Montrouge, France in the first quarter of 2005. This transaction allowed for the utilization of a $48 million deferred tax asset relating to certain net operating losses that were previously offset by a valuation allowance.

The components of consolidated income tax expense from continuing operations were as follows:


		(Stated in millions)
(Stated in millions)							(Stated in millions)

	First Quarter							Second Quarter						Six Months
	2005			2004				2005			2004			2005			2004
Current:
United States - Federal	$	54		$	26			$	90		$	79		$	144		$	105
United States - State		9			2				7			2			16			4
Outside United States		84			41				91			42			175			83

	$	147		$	69			$	188		$	123		$	335		$	192

Deferred:
United States - Federal	$	(6	)	$	(23	)		$	(21	)	$	(79	)	$	(27	)	$	(102	)
United States - State		(1	)		—				(2	)		(1	)		(3	)		(1	)
Outside United States		47			(4	)			(4	)		33			43			29
Valuation allowance		(49	)		4				1			—			(48	)		4

	$	(9	)	$	(23	)		$	(26	)	$	(47	)	$	(35	)	$	(70	)

Consolidated taxes on income	$	138		$	46			$	162		$	76		$	300		$	122

~~-11-~~

A reconciliation of the US statutory federal tax rate (35%) to the consolidated effective tax rate follows:

   First Quarter

   2005
2004

US federal statutory rate
   35 35
US state income taxes
   1 1
Non US income taxed at different rates
   (9 ) (8 )
Effect of equity method investment
   (1 ) (2 )
Minority partner’s share of LLC earnings
   (1 ) (1 )
Valuation allowance (excluding charges and credits)
   1 2
Other
   (1 ) (5 )
Charges and credits
   (5 ) 6


Effective income tax rate
   20 28

~~The charges and credits described in Note 2~~~~Charges – Continuing Operations~~, including the associated effect of changes in valuation allowance, decreased Schlumberger’s effective tax rate by five percentage points in the first quarter of 2005 and increased Schlumberger’s effective tax rate by six percentage points in the first quarter of 2004.


	Second Quarter				Six Months
	2005		2004		2005		2004
US federal statutory rate	35	%	35	%	35	%	35	%
US state income taxes	—		—		1		—
Non US income taxed at different rates	(9	)	(8	)	(8	)	(8	)
Effect of equity method investment	(1	)	(1	)	(1	)	(1	)
Minority partner’s share of LLC earnings	—		—		(1	)	(1	)
Valuation allowance (excluding charges and credits)	—		—		—		1
Other	—		(3	)	(1	)	(4	)
Charges and credits	—		—		(2	)	2

Effective income tax rate	25	%	23	%	23	%	24	%

~~14.~~15.Contingencies

TheConsolidated Balance Sheet includes accruals for the estimated future costs associated with certain environmental remediation activities related to the past use or disposal of hazardous materials where it is probable that Schlumberger has incurred a liability and such amount can be reasonably estimated.

-14-

Substantially all such costs relate to divested operations and to facilities or locations that are no longer in operation. Due to a number of uncertainties, including uncertainty of timing, the scope of remediation, future technology, regulatory changes, the risk of personal injury, natural resource or property damage claims and other factors, it is possible that the ultimate remediation costs may exceed the amounts estimated. However, in the opinion of management, such additional costs are not expected to be material relative to consolidated liquidity, financial position or future results of operations.

TheConsolidated Balance Sheet includes accruals for estimated future expenditures associated with business divestitures which have been completed. It is possible that the ultimate expenditures may exceed the amounts recorded. In the opinion of management, such additional expenditures are not expected to be material relative to consolidated liquidity, financial position or future results of operations.

In December 2004, WesternGeco and Schlumberger received grand jury subpoenas from the US Attorney’s office in the Southern District of Texas seeking documents relating to possible fraud in obtaining visas for non-US citizens working as crewmembers on vessels operating in the Gulf of Mexico. We are in the process of responding to the investigation, including providing information sought by the subpoenas. Schlumberger is unable to determine the outcome of this matter and the related impact it might have on Schlumberger’s financial condition and results of operations.

In addition, Schlumberger and its subsidiaries are party to various other legal proceedings. A liability is accrued when a loss is both probable and can be reasonably estimable. At this time the ultimate disposition of these proceedings is not presently determinable and therefore, it is not possible to estimate the amount of loss or range of possible losses that might result from an adverse judgment on settlement in these matters. However, in the opinion of Schlumberger, any liability that might ensue would not be material in relation to the consolidated liquidity, financial position or future results of operations.

Schlumberger’s tax filings are subject to regular audit by the tax authorities in most of the jurisdictions in which it conducts business. These audits may result in assessments for additional taxes which are resolved with the authorities or, potentially, through the courts. Tax liabilities are recorded based on estimates of additional taxes which will be due upon the conclusion of these audits. Estimates of these tax liabilities are made based upon prior experience and are updated in light of changes in facts and circumstances. However, due to the uncertain and complex application of tax regulations, it is possible that the ultimate resolution of audits may result in liabilities which could be materially different from these estimates. In such an event, Schlumberger will record additional tax expense or tax benefit in the year in which such resolution occurs.

~~-12-~~

~~15.~~16.Segment Information

Schlumberger operates two primary reportable business segments: Oilfield Services and WesternGeco.

~~Prior periods have been restated so as to be comparable with the current reporting structure.~~(Stated in millions)

   (Stated in millions)
   FIRST QUARTER 2005
FIRST QUARTER 2004

   Revenue
   Income
after tax
& MI
Minority
Interest
   Tax
Expense
Income
before tax
& MI
Revenue
   Income
after tax
& MI
Minority
Interest
   Tax
Expense
Income
before tax
& MI

Oilfield Services

North America
   $ 868    $ 134 $ —      $ 69 $ 203 $ 725    $ 82 $ —      $ 41 $ 123
Latin America
   469    51 —      13 64 395    49 —      12 61
Europe/CIS/W. Africa
   751    99 —      25 124 648    85 —      21 106
Middle East & Asia
   668    153 —      21 174 559    121 —      18 139
Elims/Other
   23    (9 ) —      3 (6 ) 32    (10 ) —      4 (6 )









   2,779    428 —      131 559 2,359    327 —      96 423









WesternGeco
   378    25 11    28 64 313    10 4    20 34









Elims & Other
   2    (38 ) 6    (21 ) (53 ) 1    (23 ) 4    (38 ) (57 )









   $ 3,159    $ 415 $ 17    $ 138 $ 2,673    $ 314 $ 8    $ 78









Interest Income
         19       14
Interest Expense⁽¹⁾
         (44 )       (68 )
Charges and credits⁽²⁾
         134       (184 )


         $ 679       $ 162


	SECOND QUARTER 2005													SECOND QUARTER 2004
	Revenue		Income after tax & MI			Minority Interest		Tax Expense			Income before tax & MI			Revenue		Income after tax & MI			Minority Interest		Tax Expense			Income before tax & MI
Oilfield Services
North America	$	907	$	150		$	—	$	84		$	234		$	746	$	78		$	—	$	42		$	120
Latin America		554		68			—		16			84			426		50			—		13			63
Europe/CIS/W. Africa		825		127			—		27			154			704		94			—		23			117
Middle East & Asia		731		182			—		24			206			636		139			—		22			161
Elims/Other		27		(10	)		—		6			(4	)		29		(11	)		—		4			(7	)

		3,044		517			—		157			674			2,541		350			—		104			454

WesternGeco		383		26			11		21			58			292		7			3		5			15

Elims & Other		2		(44	)		4		(16	)		(56	)		1		(28	)		—		(23	)		(51	)

	$	3,429	$	499		$	15	$	162					$	2,834	$	329		$	3	$	86

Interest Income												23													11
Interest Expense⁽¹⁾												(48	)												(49	)
Credits and charges⁽²⁾												—													(44	)

											$	651												$	336

1.	Excludes interest expense included in the Segment results ($23 million in 2005; $1 million in 2004).

2.	See Note 2Credits and Charges – Continuing Operations.

-15-

(Stated in millions)


	SIX MONTHS 2005													SIX MONTHS 2004
	Revenue		Income after tax & MI			Minority Interest		Tax Expense			Income before tax & MI			Revenue		Income after tax & MI			Minority Interest		Tax Expense			Income before tax & MI
Oilfield Services
North America	$	1,774	$	284		$	—	$	153		$	437		$	1,472	$	159		$	—	$	84		$	243
Latin America		1,023		119			—		29			148			821		100			—		24			124
Europe/CIS/W. Africa		1,576		225			—		52			277			1,352		180			—		43			223
Middle East & Asia		1,399		336			—		45			381			1,195		260			—		40			300
Elims/Other		51		(19	)		—		8			(11	)		59		(23	)		—		10			(13	)

		5,823		945			—		287			1,232			4,899		676			—		201			877

WesternGeco		761		50			22		49			121			605		15			7		26			48

Elims & Other		4		(82	)		10		(35	)		(107	)		3		(48	)		4		(62	)		(106	)

	$	6,588	$	913		$	32	$	301					$	5,507	$	643		$	11	$	165

Interest Income												42													25
Interest Expense⁽¹⁾												(92	)												(118	)
Credits and charges⁽²⁾												134													(229	)

											$	1,330												$	497

1.	Excludes interest expense included in the Segment results ($5 million in 2005; $3 million in 2004).

2.	See Note 2Charges and credits – Continuing Operations.

~~16.~~17.Pension and Other Postretirement Benefits

Net pension cost in the US for the ~~first~~second quarter ofand six months ended June 30, 2005 and 2004 included the following components:

   (Stated in millions)
   First Quarter

   2005
2004

Service cost - benefits earned during period
   $ 13 $ 13
Interest cost on projected benefit obligation
   26 25
Expected return on plan assets
   (25 ) (23 )
Amortization of prior service cost/other
   1 3
Amortization of unrecognized net loss
   6 5


Net pension cost
   $ 21 $ 23

(Stated in millions)


	Second Quarter						Six Months
	2005			2004			2005			2004
Service cost - benefits earned during period	$	13		$	13		$	26		$	26
Interest cost on projected benefit obligation		27			25			53			50
Expected return on plan assets		(28	)		(23	)		(53	)		(46	)
Amortization of prior service cost/other		2			3			5			6
Amortization of unrecognized net loss		6			5			13			10

Net pension cost	$	20		$	23		$	44		$	46

In July 2005, Schlumberger contributed approximately $171 million to the US pension plan.

Net pension cost in the UK plan for the ~~three~~second quarter and six months ended ~~March~~June 30, 2005 and 2004 included the following components:

   (Stated in millions)
   First Quarter

   2005
2004

Service cost - benefits earned during period
   $ 6 $ 6
Interest cost on projected benefit obligation
   10 8
Expected return on plan assets
   (12 ) (10 )
Amortization of unrecognized loss
   4 3


Net pension cost
   $ 8 $ 7

(Stated in millions)


	Second Quarter						Six Months
	2005			2004			2005			2004
Service cost - benefits earned during period	$	6		$	8		$	12		$	14
Interest cost on projected benefit obligation		10			8			20			16
Expected return on plan assets		(11	)		(9	)		(23	)		(19	)
Amortization of unrecognized loss		4			2			8			5

Net pension cost	$	9		$	9		$	17		$	16

~~-13-~~-16-

Net postretirement benefit cost in the US for the ~~first~~second quarter and six months of 2005 and 2004 included the following components:

   (Stated in millions)
   First Quarter
   2005
   2004
Service cost - benefits earned during period
   $ 9    $ 7
Interest cost on accumulated postretirement benefit obligation
   13    13
Amortization of unrecognized net loss/other
   —      1


Net postretirement benefit cost
   $ 22    $ 21

(Stated in millions)


	Second Quarter					Six Months
	2005			2004		2005		2004
Service cost - benefits earned during period	$	6		$	7	$	15	$	14
Interest cost on accumulated postretirement benefit obligation		11			13		23		26
Amortization of unrecognized net loss/other		(1	)		1		—		2

Net postretirement benefit cost	$	16		$	21	$	38	$	42

~~-14-~~-17-

Item 2: Management’s Discussion and Analysis of Financial Condition and Results of ~~Operations.~~Operations

BUSINESS REVIEW

   First Quarter

   2005
   2004
   % chg

Oilfield Services

Operating Revenue
   $ 2,779    $ 2,359    18 %
Pretax Operating Income
   $ 559    $ 423    32 %
WesternGeco

Operating Revenue
   $ 378    $ 313    21 %
Pretax Operating Income
   $ 64    $ 34    89 %

(Stated in millions)


	Second Quarter						Six Months
	2005		2004		% chg		2005		2004		% chg
Oilfield Services
Operating Revenue	$	3,044	$	2,541	20	%	$	5,823	$	4,899	19	%
Pretax Operating Income	$	674	$	454	48	%	$	1,232	$	877	40	%

WesternGeco
Operating Revenue	$	383	$	292	31	%	$	761	$	605	26	%
Pretax Operating Income	$	58	$	15	297	%	$	121	$	48	152	%

Pretax operating income represents the segments’ income before taxes and minority ~~interest, excluding~~interest. Pretax operating income excludes corporate expenses, interest income, interest expense and amortization of certain intangibles ~~a net pretax credit of $134 million~~and theCredits and Charges described in ~~the first quarter of 2005 and a pretax charges of $184 million in the first quarter of 2004 (see~~detail on pages 6 and 7 ~~for~~as these items are not allocated to the ~~description of charges and credits).~~segments.

~~First~~Second Quarter 2005 Compared to ~~First~~Second Quarter 2004

Operating revenue for the ~~first~~second quarter of 2005 was ~~$3.16~~$3.43 billion versus ~~$2.67~~$2.83 billion for the same period last year. Income from continuing operations before income taxes and minority interest was ~~$679~~$651 million in 2005 compared to ~~$162~~$336 million in 2004. ~~The 2005 results include net pretax credits of $134 million.~~ The 2004 results include pretax charges of ~~$184~~$44 million. These credits and charges are described in detail on pages 6 and 7.

Net income for the ~~first~~second quarter of 2005 was ~~$523~~$482 million compared to ~~$220~~$356 million in the ~~first~~second quarter of last year. Net income includes a ~~loss~~gain from discontinued operations of $1$9 million in the ~~first~~second quarter of 2005 compared to ~~a gain from discontinued operations of $113~~$98 million in the ~~first quarter of~~same period last year.

Oilfield Services revenue of ~~$2.78~~$3.04 billion increased 2%10% sequentially and ~~18%~~20% compared to the same quarter of last year. Pretax business segment operating income of ~~$559~~$674 million increased ~~16%~~21% sequentially and ~~32%~~48% year-on-year.

WesternGeco revenue of ~~$378~~$383 million increased ~~14%~~1% sequentially and ~~21%~~31% year-on-year. Pretax business segment operating income of ~~$64~~$58 million decreased 9% sequentially but increased ~~48% sequentially and 89%~~three-fold year-on-year.

OILFIELD SERVICES

~~First-quarter~~Second quarter revenue of ~~$2.78~~$3.0 billion was 2%10% higher sequentially ~~but~~and increased ~~18%~~20% year-on-year. Pretax operating income of ~~$559~~$674 million increased ~~16%~~21% sequentially and ~~grew 32%~~48% year-on-year.

~~Overall, sequential~~Sequential revenue increases were recorded across all Areas with the highest incontributions from the ~~Canada,~~US Land, US Gulf Coast, Mexico, Russia, Saudi Arabia, North Sea, ~~Nigeria, West Africa~~ and ~~the Gulf~~Venezuela GeoMarkets. ~~Demand was~~All technology segments experienced higher revenue levels, with particularly strong demand for ~~Drilling & Measurements~~Integrated Project Management (IPM), Well Services, and Well ~~Services technologies.~~Completions & Productivity products and services.

~~Robust year-on-year revenue~~Year-on-year growth was ~~experienced across~~posted in all ~~regions with~~Areas but driven mainly by the ~~Canada,~~ US Land, Russia, ~~Nigeria,~~ the Gulf, Nigeria, Mexico, and ~~India GeoMarkets posting the highest increases. By technology, all service segments~~Venezuela GeoMarkets. All technologies except Integrated Project Management and Schlumberger Information Solutions recorded double-digit increases.

Pretax operating income recorded ~~exceptional~~strong sequential and year-on-year growth, ~~driven by accelerating pricing~~principally due to a continued increase in exploration and ~~asset utilization~~production activity levels worldwide, resulting in ~~US Land and Canada; strengthening levels of activity in West Africa; and a more favorable mix of activity in Latin America.~~higher operating leverage across all Areas.

~~-15-~~-18-

North America

Revenue of ~~$868~~$907 million increased 2%5% sequentially and ~~20%~~21% year-on-year. Pretax operating income of ~~$203~~$234 million increased ~~29%~~15% sequentially and ~~65%~~94% year-on-year.

~~The sequential~~Sequentially, the US Land GeoMarket continued to record strong revenue ~~increase was primarily~~growth, driven mainly by ~~Canada with maximum equipment and personnel utilization, higher pricing levels and increased~~high demand for ~~high-tier services. This revenue growth rate~~Well Services technologies that resulted in significant pricing improvements. The Gulf of Mexico also contributed through the introduction of new technology, which led to higher revenue. Canada declined due to the seasonal impact of spring break-up in Western Canada, where active rig count was ~~partially reduced by the absence of any turnkey drilling operations as this activity was exited in~~halved from the prior ~~quarter.~~quarter, partially offset by robust activity offshore Eastern Canada.

The solid year-on-year ~~revenue growth~~and sequential pretax income improvement was the result of new technology introductions, particularly by Drilling & Measurements; price increases mainly ~~fueled by strong pricing gains in US Land and by Wireline and Well Services technologies with fracturing crews operating at near capacity.~~

~~The robust growth in pretax operating income was driven by improvements in pricing, particularly for~~from Well Services and ~~Wireline technologies,~~Wireline; and continued activity ~~ramp-up in US Land and Canada, coupled with much higher margins in the Gulf Coast—a consequence of the absence of turnkey drilling operations in the quarter.~~growth.

Latin America

Revenue of ~~$469~~$554 million ~~declined 4%~~increased 18% sequentially ~~but~~and was ~~19%~~30% higher year-on-year. Pretax operating income of ~~$64~~$84 million increased ~~22%~~30% sequentially and ~~5% compared to the same quarter of last year.~~34% year-on-year.

~~Revenue~~Mexico recorded high sequential revenue growth from an increased number of wells being completed on the Burgos project. Activity in ~~Mexico, while growing significantly year-on-year, fueled by large integrated projects, declined sequentially as~~ the ~~result of much lower levels of third-party managed services revenue associated with these projects.~~Venezuela/Trinidad & Tobago GeoMarket increased primarily from IPM and Well Services operations.

~~Sequentially, lower activity in Western Venezuela was partially offset by increased revenue from PDVSA in other areas.~~ During the quarter, ~~an important milestone~~continued progress was ~~passed in reaching an~~highlighted with the signing of a short-term renewable agreement with PDVSA ~~for moving forward to resolve issues related to~~regarding the PRISA ~~project. This agreement included~~project, resulting in a ~~payment~~resumption of ~~a significant amount~~activity for the six barges. Discussions continue regarding the settlement of ~~the outstanding receivables, a framework for future activity on the project and for resolution of some past issues, including negotiation of~~certain outstanding receivables.

Sequential revenue growth in the Latin America South GeoMarket was due mainly to higher Well Completions & Productivity, Drilling & Measurements and Wireline activity in Brazil and Argentina, where the Repsol D-150 Integrated Project Management (IPM) operation reached the 100-well milestone.

The strong ~~sequential pretax~~ operating income ~~improvement~~increase resulted mainly from strengthening operating margins in Mexico due to improved IPM performance. This was ~~experienced evenly~~coupled with stronger operating efficiencies in Well Services across all the GeoMarkets with an improved drilling environment in the Venezuela/Trinidad/Tobago GeoMarket and a better revenue mix in the Mexico/Central America GeoMarket between Schlumberger technologies and third-party managed services.GeoMarkets.

Europe/CIS/West Africa

Revenue of ~~$751~~$825 million increased 7%10% sequentially and ~~16%~~17% year-on-year. Pretax operating income of ~~$124~~$154 million increased ~~16% both~~24% sequentially and 31% year-on-year.

~~Sequential~~The sequential revenue growth resulted mainly from higher levels of activity in Russia, principally due to greater demand for Well Services and Well Completion & Productivity technology services. This was coupled with the inclusion of 20 days of financial results on a consolidated basis of PetroAlliance following the completion of the second stage of the acquisition, giving Schlumberger a 51% controlling interest. Also contributing to the revenue improvement was the Caspian GeoMarket with stronger Wireline activity and the North Sea experiencing seasonal activity pick-up.

The robust profitability improvement in pretax operating income was mainly ~~driven by~~due to the resurgence of activity in the North ~~Africa, Nigeria~~Sea; improved utilization and ~~West Africa with increases~~pricing in ~~Well Completions & Productivity, Wireline~~Russia; and reduced overhead costs, resulting in higher operating margins. Also contributing were new technology introductions and the renewal of long-term contracts, particularly in Drilling & Measurements, ~~technologies. Activity was robust in the North Sea, particularly due to growth in Schlumberger Information Solutions~~Well Services and ~~Well Completions & Productivity technologies. However, growth was somewhat offset by adverse weather early in the quarter.~~Wireline services.

In the ~~Russia GeoMarket, activity grew significantly, driven by recovery of activity~~UK, Schlumberger acquired Diamould Ltd., a firm specializing in ~~Yuganskneftegaz that reached pre-September 2004 levels towards the end of the quarter. Increased demand for stimulation~~electrical power and ~~cementing technologies~~instrumentation, hydraulic and ~~strengthening IPM operations were experienced across the GeoMarket. The demand for,~~fiber-optic connector solutions used in subsea, downhole, and ~~speed of, technology uptake remains strong.~~

Most GeoMarkets recorded double-digit increases year-on-year, led by Nigeria with higher rig count spurring growth in Drilling & Measurements and Wireline technologies; in West Africa mainly from Well Completions & Productivity technologies; and in Continental Europe with stronger activity across all technologies.

~~-16-~~

The robust sequential growth in operating income was mainly in Western Africa and Nigeria from increasing activity and pricing improvements combined with the resumption of activities for Yuganskneftgaz in Russia following shut-downsdeepwater applications. Based in the ~~prior quarter.~~UK, Diamould will become the Schlumberger Center of Excellence for all new developments in the critical area of connector reliability.

Middle East & Asia

Revenue of ~~$668~~$731 million was ~~flat~~9% higher sequentially ~~but grew 19%~~and 15% higher year-on-year. Pretax operating income of ~~$174~~$206 million ~~declined 4%~~increased 18% sequentially ~~but increased 25%~~and 28% year-on-year.

~~The flat sequential revenues resulted from~~Sequentially, each of the 11 GeoMarkets contributed to the revenue ~~growth~~improvement, further emphasizing the global progression and depth of the current business cycle. Activity in China strengthened as a result of accelerated adoption of advanced Drilling & Measurements and Wireline technologies. Revenue continued to

-19-

expand in the ~~Thailand/Vietnam,~~Middle East ~~Africa and East Mediterranean, and the Gulf GeoMarkets, were offset by reduced deepwater~~due to increased activity ~~in the Malaysia/Brunei/Philippines and Indonesia GeoMarkets.~~

~~Year-on-year revenue growth was~~ led by ~~the Malaysia/Brunei/Philippines GeoMarket with high demand for Well Completions & Productivity,~~Saudi Arabia, benefiting mainly Wireline and Drilling & Measurements ~~technologies. Increased offshore exploration activity~~operations. Also contributing to the improved revenue was the commencement of new projects in ~~India, start-up of Wireline services for PDO in Oman,~~the Gulf and ~~burgeoning gas activity in Qatar also contributed to this growth.~~Brunei/Malaysia/Philippines GeoMarkets.

The ~~sequential decline~~increase in operating income ~~resulted from seasonal effects~~outpaced activity growth, resulting in a sharp rise in operating margin. This strong performance was due to a mix of steady activity improvement across all the GeoMarkets and ~~from increased personnel costs associated~~significant price increases, principally in Drilling & Measurements, Well Completions & Productivity, and Wireline operations, coupled with the ~~preparation~~start up of new ~~contracts and activity. These contracts will only take full effect in the coming quarters.~~projects.

WESTERNGECO

~~First-quarter~~Second quarter revenue of ~~$378~~$383 million was ~~14%~~1% higher sequentially ~~and 21% higher~~but increased 31% compared to the same period of last year. Pretax operating income of ~~$64~~$58 million decreased $6 million sequentially but improved $43 million year-on-year.

Sequentially, revenue increased ~~48% sequentially~~sharply mainly from strong activity in Europe, reflecting the start of the North Sea season with three Q-Marine* vessels and ~~89% year-on-year.~~one Q-Seabed* crew operating in the region, combined with higher activity in the Gulf of Mexico. The strong Marine activity increase was due to a combination of higher vessel utilization coupled with steady pricing increases and more favorable contractual terms regarding transit and bad weather downtimes. Year-on-year Marine revenue increased 31%, reflecting strong utilization of Q Vessels and increased pricing. Increased activities in South America, Asia, Europe, West Africa and the Middle East were partly offset by lower activity in Mexico and North America.

Sequentially, Land revenue increased mainly in the Middle East reflecting higher conventional activity in Saudi Arabia, Chad, Algeria and Pakistan, and increased Q-Land* activity in Kuwait; partially offset by the completion of a project in Mexico and of a 2D-Transitional project in New Zealand.

~~Marine revenue increased mainly in Asia~~marginally with ~~three conventional vessels working at higher prices, full utilization of the Q* vessel~~~~Topaz~~ ~~in India and increased activity for the~~~~Neptune~~ ~~on the Q Magno survey in Mexico; partially offset by lower activity in Europe.~~

Multiclient sales increased to $141 million in the first quarter of 2005, mainly in North America following the Central Gulf of Mexico lease sale. Approximately 70% of the surveys sold in the first quarter of 2005 had no net book value due to prior amortization of capitalized costs (compared to 50% in 2004) and only 3% of the surveys sold were impaired in 2003 and 2002. Multiclient sales were $135 million in the first quarter of 2004.

~~Data Processing declined slightly mainly due to seasonally lower activity in West Africa, Europe and North America.~~

Year-on-year revenue growth was driven by Marine, reflecting strong utilization and pricing, and by Land reflecting four additional crews working in the Middle East. Data Processing also contributed to this improvement with stronger Q processing and higher activity in the Middle East and ~~Asia.~~

~~Sequential and year-on-year improvements~~South America, partly offset by delayed mobilization of a crew in ~~pretax income were mainly~~Algeria. A net addition of three crews during the quarter resulted in ~~Marine, resulting from significantly higher utilization for both Q and conventional seismic, improved pricing and~~a total of 20 land crews. The Q-Land* crew currently deployed in Kuwait continues to deliver excellent performance. Year over year revenue increased ~~Multiclient sales. Land also contributed to the improvement~~40% mainly in the Middle East with higher active crew months in Saudi Arabia, Chad, Kuwait and Algeria, which was partially offset by the shut down of two crews in Abu Dhabi and one crew each in Oman, Malaysia and Mexico.

Multiclient sequential sales experienced a seasonal decline following the completion of the Central Gulf of Mexico Lease Sale in the first quarter. This decrease was partially offset by higher sales in Asia, Europe, South America, and West Africa, reflecting an improved exploration-spending environment. Multiclient year-on-year revenue increased 30% in North America from higher sales in the Gulf Coast area and in ~~Algeria~~US Land combined with higher pre-funded revenue, augmented by higher sales in Asia, South America, Europe, and West Africa.

Sequentially Data Processing increased marginally due to higher ~~revenue.~~

Q-Marine*third party processing in North and South America. Data Processing increased year over year by 20% resulting from improved third party processing in North America, Brazil, Russia, Middle East and Asia. Overall vessel utilization ~~remained high during the quarter. The conversion of the previously announced fifth~~decreased from 79% in 2004 to 77% in 2005, albeit with better pricing, while Q vessel ~~will be completed~~utilization increased from 53% in ~~early summer~~2004 to 88% in 2005.

The WesternGeco backlog at the end of the ~~first~~second quarter was ~~$668 million, flat sequentially but increasing by almost 40% year-on-year.~~$595 million. The sequential decline was mainly due to the consumption of some of the backlog of the summer shooting season in the North Sea and Canada.

~~-17-~~

The sequential decline in pretax operating income was mainly due to lower Multiclient sales. This seasonal deterioration was partially offset by significant improvements in Marine as a result of increased vessel utilization, better pricing, and the conversion of a conventional vessel to Q-Technology* commanding higher prices. The increase in the year-on-year pretax income was led by Multiclient (up $25 million) due mainly to increased sales. Data Processing increased $6 million due to the combined impact of higher revenue, and lower lease and compensation costs in the United Kingdom. Land improved by $6 million mainly in the Middle East due to higher revenue. Marine increased by $4 million due mainly to higher utilization and improved pricing, which was offset by a large increase in operating costs.

INCOME STATEMENT

Interest and other income for the second quarter of 2005 was $46 million versus $27 million for the same period last year. The second quarter of 2004 included a $7 million loss on the sale of shares of Atos Origin SA. Interest income of ~~$19~~$23 million increased ~~$5.4~~$12 million compared to the same quarter last year. The average return on investment increased from ~~1.8%~~1.7% to ~~2.8% year-over-year. The~~3.3% while the average investment balance of ~~$2.8~~$2.9 billion ~~decreased $321~~increased $237 million as compared to last year.

-20-

Gross margin increased from ~~20.6%~~21.3% in 2004 to ~~23.9%~~25.7% in 2005, primarily due to a combination of record activity levels in Oilfield Services, with operations at capacity in a number of regions, and continued pricing improvements in both Oilfield Services and WesternGeco. As a percentage of revenue, marketing expense was flat compared to last ~~year~~year. In absolute dollars, research and ~~research &~~ engineering expense was flat, but as a percentage of revenue decreased ~~0.3%~~ from ~~last year.~~4.3% to 3.5%. General and administrative expense as a percentage of revenue decreased from 2.9% to 2.7%. ~~Interest expense of $47 million decreased $22.7 million compared to same quarter last year.~~

Excluding the impact of the $10 million gain in 2004 related to the US interest rate swap described on page 7, interest expense was flat, and average borrowing rates increased from 3.9% in 2004 to 4.5% in 2005. The average debt balance of $4.5 billion decreased by $768 million compared to the same quarter last year.

The effective tax rate for the second quarter of 2005 was 24.9% compared to 22.5% in the prior year. This increase is primarily attributable to the country mix of results in Oilfield Services, with a higher proportion of pretax profitability in North America compared to the comparable period last year.

Six Months 2005 Compared to Six Months 2004

Operating revenue for the six month period ended June 30, 2005 was $6.59 billion versus $5.51 billion for the same period last year. Income from continuing operations before income taxes and minority interest was $1.33 billion in 2005 compared to $497 million in 2004. The 2005 results include net pretax credits of $134 million. The 2004 results include pretax charges of $229 million. These credits and charges are described in detail on pages 6 and 7.

Net income for the six month period ended June 30, 2005, was $1.01 billion compared to $576 million in the same period last year. Net income includes a gain from discontinued operations of $8 million in 2005 compared to $211 million in 2004.

In the six month period ended June 30, 2005, Oilfield Services recorded revenue of $5.82 billion, an increase of 19% compared to the same period of last year. Pretax business segment operating income of $1.23 billion increased 40% year-on-year.

WesternGeco revenue for the six months ended June 30, 2005 of $761 million increased 26% year-on-year. Pretax business segment operating income of $121 million increased 152% year-on-year.

OILFIELD SERVICES

Six month revenue of $5.8 billion was 19% higher versus the same period last year. Pretax operating income of $1.2 billion increased 40% year-on-year. Revenue growth year-on-year was strongest in US Land, Mexico, Canada, and Gulf GeoMarkets. From a technology standpoint, double-digit year-on-year growth was achieved across all technologies.

North America

Revenue of $1.8 billion increased 21% versus the same period last year. Pretax operating income of $437 million increased 79% year-on-year. Year-on-year growth was mainly due to high activity levels in US Land and Canada, which were fueled by strong commodity prices, increased activity and pricing improvements, as well as higher activity in Eastern Canada. Gulf Coast grew moderately year-on-year with growth across all technologies being partially reduced by the absence of any turnkey drilling operations. All technologies, with the exception of Integrated Project Management, grew year-on-year.

Latin America

Revenue of $1 billion was 25% higher year-on-year. Pretax operating income of $148 million increased 20% versus the same period last year. Increased third party managed services revenue accounted for most of the growth in Mexico. Year-on-year increases were also posted in Latin America South with strong growth across all technologies from increased activity in both Argentina and Brazil, and Peru/Colombia/Ecuador that benefited from the commencement of an integrated project and increased well construction activity in both

-21-

Ecuador and Peru. Venezuela was higher with Well Completions & Productivity experiencing rising activity in Trinidad and Wireline and Drilling & Measurements also increasing. Double-digit growth was recorded across all technologies.

Europe/CIS/West Africa

Revenue of $1.6 billion increased 17% year-on-year. Pretax operating income of $277 million increased 24% year-on-year. Growth was lead by Russia, principally due to greater demand for Well Services and Well Completion & Productivity technology services, and Nigeria, with the prior year activity hampered by production shutdowns in the Western delta. Increased activity in West Africa, led by Well Completions & Productivity and Well Services also contributed to the growth. All technologies with the exception of Integrated Project Management increased year-on-year.

Middle East & Asia

Revenue of $1.4 billion was 17% higher year-on-year. Pretax operating income of $381 million was 27% higher versus the same period last year. Revenue growth was reflected in all GeoMarkets and was strongest in the Gulf, with Wireline and Well Services contributing to strong growth with improved pricing and additional activity from rising rig count. Saudi and Thailand/Vietnam GeoMarkets also contributed to the growth with ramp up in Wireline activity on higher rig count in the both regions. In Brunei/Malaysia/Philippines all technologies grew. All technologies recorded strong growth year-on-year with the exception of Integrated Project Management.

WESTERNGECO

Six months revenue for WesternGeco of $761 million was 26% higher compared to the same period last year. The year-on-year increase in Marine revenue was attributable to better vessel utilization and pricing improvements. Marine activity increased mainly in South America, Asia, Europe, West Africa and Middle East, partially offset by lower activity in Mexico and in North America. Land activity increased mainly in the Middle East with several additional crews active in the current year, higher activity in Algeria and in Argentina, partially offset by Mexico and Malaysia. Multiclient sales increased mainly in North America, augmented by higher sales in Europe and in Asia. Data Processing increased from higher levels of third party processing.

Pretax income of $121 million improved by $73 million year-on-year. Marine, Land Multiclient and Data processing all experienced increases in pretax income primarily due to increased revenue, better pricing and utilization, partly offset by higher operating costs. In addition, approximately 67% of Multiclient sales in the current period, which increased 15% year-on-year to $250 million, had no net book value due to the prior amortization of capitalized costs as compared to 54% in the prior year period.

INCOME STATEMENT

Interest and other income was $235 million versus $51 million for the same period last year. The 2005 period includes a gain of $146 million on the sale of a facility in Montrouge, France while the 2004 period included a $21 million loss on the sale of shares of Atos Origin SA. Both of these items are described in further detail in the following pages. Interest income of $43 million increased $18 million compared to the same period last year. The average return on investment increased from 1.7% to 3.1% while the average investment balance of $2.8 billion decreased $132 million compared to last year.

Gross margin increased from 21.0% in 2004 to 24.8% in 2005, primarily due to a combination of record activity levels in Oilfield Services, with operations at capacity in a number of regions, and continued pricing improvements in both Oilfield Services and WesternGeco. As a percentage of revenue, marketing expense was flat compared to last year. In absolute dollars, research and engineering expense increased slightly, but as a percentage of revenue decreased from 4.2% to 3.7%. General and administrative expense as a percentage of revenue decreased from 2.9% to 2.7%.

Excluding the impact of the net $64 million charge in 2004 related to the US interest rate swaps described on page 6,7, interest expense decreased $23 million, and average borrowing rates increased from ~~4.0%~~3.9% in 2004 to ~~4.1% compared to the same quarter last year.~~4.3% in 2005. The average debt balance of $4.6 billion decreased ~~$2.3~~by $1.6 billion ~~over~~compared to the same quarter last year.

-22-

The effective tax rate for the first ~~quarter~~six months of 2005 was ~~20.3%~~22.5% compared to ~~28.4%~~24.4% in the prior year. The rate in 2005 reflects the impact of the $146 million gain on the sale of the Montrouge facility. This transaction allowed for the utilization of a deferred tax asset that was previously offset by a valuation allowance and had the effect of lowering the effective tax rate during the first ~~quarter~~six months of 2005 by ~~5.5%~~2.8%. The rate in 2004 reflects the impact of the $77 million of costs associated with the repurchase of European bonds which was not tax ~~effective.~~effective and had the effect of increasing the effective tax rate during the first six months of 2004 by 3.3%. Excluding the impact of these significant transactions, the effective tax rate increased from ~~the first quarter of~~ 2004 to ~~the first quarter of~~ 2005. This increase is primarily attributable to ~~a different geographic~~the country mix of results in Oilfield Services, with a higher proportion of ~~operating income derived from~~pretax profitability in North America ~~in both Oilfield Services and WesternGeco.~~compared to the comparable period last year.

~~Charges~~Credits and ~~Credits~~Charges – Continuing Operations

2005

In March 2005, Schlumberger sold its facility in Montrouge, France to a third party for $230 million, resulting in a pretax and after-tax gain of approximately $146 million, which is classified inInterest and other income in theConsolidated Statement of Income. ~~This transaction allowed for the utilization of a deferred tax asset that was previously offset by a valuation allowance.~~ Schlumberger also recorded other real estate related pretax charges of approximately $12 million ($11 million after-tax), which are classified inCost of goods sold ~~and~~& services in theConsolidated Statement of Income.

2004

Debt Extinguishment Costs

~~Other Charges~~

Schlumberger Technology Corporation paid off its commercial paper program in the US. As a result, the $500 million US interest-rate swaps that were designated as cash-flow hedges became ineffective. Schlumberger recorded aThe above pretax ~~non-cash charge of $73 million ($46 million after-tax) to recognize unrealized losses previously recorded in Other Comprehensive Income. The pretax charge is~~charges are classified in~~Interest expense~~ ~~in the~~~~Consolidated Statement of Income.~~

~~-18-~~Other Credits and Charges

Second quarter of 2004:

•

Schlumberger Technology Corporation settled its US Interest Rate Swaps resulting in a pretax gain of $10 million ($6 million after-tax), which is classified inInterest Expense in theConsolidated Statement of Income.

•

-23-

•

~~Schlumberger had commenced a restructuring program in order to reduce overhead. Consequently, a pretax charge~~

First quarter of ~~$20 million ($14 million after-tax) was taken in the quarter related to a voluntary early retirement program in the United States and is classified in~~~~Cost of goods sold~~~~& services~~ ~~in the~~~~Consolidated Statement of Income~~.2004:

•

Schlumberger Technology Corporation paid off its commercial paper program in the US. As a result, the $500 million US interest-rate swaps that were designated as cash-flow hedges became ineffective. Schlumberger recorded a pretax non-cash charge of $73 million ($46 million after-tax) to recognize unrealized losses previously recorded inOther Comprehensive Income. The pretax charge is classified inInterest expense in theConsolidated Statement of Income.

•

Schlumberger sold 9.6 million ordinary shares of Atos Origin SA at a price of €52.95 per share. The net proceeds for the sale were $625 million and Schlumberger recorded a pretax and after-tax loss of $14 million on this transaction, which reflects both banking fees and currency effect. The pretax charge is classified inInterest and other income in theConsolidated Statement of Income.

•

The following is a summary of the above 2004 charges:


		(Stated in millions)
( Stated in millions )							( Stated in millions )

	Pretax		Tax		Net			Pretax			Tax			Net
Charges & Credits:
- Debt extinguishment costs	$	77	$	—	$	77		$	115		$	14		$	101
- Restructuring program charges		20		6		14			24			6			18
- Loss on sale of Atos Origin shares		14		—		14			21			—			21
- US interest-rate swap settlement gain									(10	)		(4	)		(6	)
- Vacated leased facility charge									11			—			11
- Litigation reserve release									(5	)		—			(5	)
- Loss recognized on interest-rate swaps		73		27		46			73			27			46

	$	184	$	33	$	151		$	229		$	43		$	186

Discontinued Operations

-24-

The following table summarizes the results of these discontinued ~~operations during the first quarter of 2004:~~operations:

   (Stated in millions)
Three months ended March 31,

   2005
2004
Revenues
   $ —   $ 364
Income (loss) before tax
   (1 ) 28
Tax expense
   —   6
Gains on disposal, net of tax
   —   91


Income from discontinued operations
   $ (1 ) $ 113

(Stated in millions)


	Second Quarter				Six Months
	2005		2004		2005		2004
Revenue	$	—	$	23	$	—	$	386

Income before tax	$	9	$	27	$	8	$	55
Tax expense		—		10		—		16
Gains on disposal, net of tax		—		81		—		172

Income from discontinued operations	$	9	$	98	$	8	$	211

CASH FLOW

During the first ~~three~~six months of 2005, cash provided by operations was ~~$354 million~~$1.08 billion as ~~net~~ income from continuing operations plus depreciation/amortization and ~~charges/credits, including the gain on the sale of the Montrouge facility,~~credits/charges were ~~only~~ partially offset by increases in customer receivables and inventories. Cash used by investing activities was ~~$162~~$596 million, with investments in fixed assets ($699 million) and the acquisition of PetroAlliance ($32 million) offset in part by proceeds from the sale of the Montrouge facility ($230 million) ~~mainly offset by investments in fixed assets ($315 million)~~. Cash used by financing activities was ~~$192~~$543 million as the payment of dividends to shareholders ($~~110~~234 million), stock repurchase plan ($73262 million) and a net reduction in debt of ~~$61~~$165 million were only partially offset by the proceeds from employee stock plans ($52119 million).

~~-19-~~-25-

Net Debt is gross debt less cash, short-term investments and fixed income investments held to maturity. Management believes that “net debt” provides useful information regarding the level of Schlumberger’s indebtedness by reflecting cash and investments that could be used to repay debt, and that the level of net debt provides useful information as to the results of Schlumberger’s deleveraging efforts. Details of the change in Net Debt follows:


		~~(Stated in millions)~~

Three Months
   2005

Net Debt, beginning of period
   $ (1,459 )
Net income from continuing operations
   524
Excess of equity income over dividends received
   (24 )
Charges and credits, net of tax and minority interest
   (134 )
Depreciation and amortization
   328
Increase in working capital requirements
   (370 )
Capital expenditures
   (331 )
Dividends paid
   (110 )
Proceeds from stock plans
   52
Proceeds from business divestitures
   25
Proceeds from the sale of Montrouge facility
   230
Stock purchase program
   (73 )
Other
   14
Translation effect on net debt
   28

Net Debt, end of period
   $ (1,300 )



		~~(Stated in millions)~~

Components of Net Debt
   Mar. 31
2005
Dec. 31
2004

Cash and short-term investments
   $ 3,040 $ 2,997
Fixed income investments, held to maturity
   228 204
Bank loans and current portion of long-term debt
   (622 ) (716 )
Long-term debt
   (3,946 ) (3,944 )


   $ (1,300 ) $ (1,459 )


(Stated in millions)

Six Months	2005
Net Debt, beginning of period	$	(1,459	)
Income from continuing operations		998
Excess of equity income over dividends received		(49	)
Charges and credits, net of tax and minority interest		(134	)
Depreciation and amortization		655
Increase in working capital requirements		(364	)
Capital expenditures		(727	)
Dividends paid		(234	)
Proceeds from stock plans		119
Proceeds from business divestitures		28
Proceeds from the sale of Montrouge facility		230
PetroAlliance acquisition (cash paid, net of cash acquired)		(32	)
Net debt acquired		(58	)
Stock purchase program		(262	)
Other		4
Other business acquisitions		(24	)
Translation effect on net debt		65

Net Debt, end of period	$	(1,244	)


(Stated in millions)

Components of Net Debt	June 30 2005			Dec. 31 2004
Cash and short-term investments	$	2,913		$	2,997
Fixed income investments, held to maturity		313			204
Bank loans and current portion of long-term debt		(691	)		(716	)
Long-term debt		(3,779	)		(3,944	)

	$	(1,244	)	$	(1,459	)

FORWARD-LOOKING STATEMENTS

This report and other statements we make contain forward looking statements, which include any statements that are not historical facts, such as our expectations regarding business outlook; growth for Schlumberger as a whole and for each of Oilfield Services and WesternGeco; oil and natural gas demand and production growth; operating and capital expenditures by Schlumberger and the oil and gas industry; the business strategies of Schlumberger’s customers; future effective tax rates; and future results of operations. These statements involve risks and uncertainties, including, but not limited to, the global economy; changes in exploration and production spending by Schlumberger’s customers and changes in the level of oil and natural gas exploration and development; general economic and business conditions in key regions of the world; political and economic uncertainty and socio-political unrest; and other factors detailed in our ~~first quarter 2005 earnings release, our~~ most recent Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission. If one or more of these risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

Non-US Operations

Schlumberger derives a significant portion of its revenues from non-US operations, which subject Schlumberger to risks which may affect such operations. Schlumberger’s non-US operations accounted for approximately ~~69%~~74% of our consolidated revenues for the second quarter and the first ~~quarters~~six months of both 2005 and 2004. Risks which may adversely affect our operations in such countries include unsettled political and economic conditions in certain areas, exposure to possible expropriation or other governmental actions, social unrest, acts of terrorism, outbreak of war or other armed conflict, deprivation of contract rights, exchange control and currency fluctuation. In addition, we are subject to risks associated with our operations in countries, including Iran, Syria, Sudan, Libya and ~~Libya,~~Cuba, which are subject to trade, economic sanctions or other restrictions imposed by the US government. Although it is impossible to predict such occurrences or their effects on Schlumberger, management believes these risks are acceptable. Management also believes that the geographical diversification of our activities reduces the risk that loss of operations in any one country would be material to all the operations taken as a whole.

~~-20-~~-26-

Item 3:Quantitative and Qualitative Disclosures ~~about~~About Market Risk

For quantitative and qualitative disclosures about market risk affecting Schlumberger, see Item 7A, “Quantitative Disclosures About Market Risk,” of our Annual Report on Form 10-K for the year ended December 31, 2004. Schlumberger’s exposure to market risk has not changed materially since December 31, 2004.

Item 4:Controls and Procedures

As of the end of the period covered by this report, an evaluation was carried out under the supervision and with the participation of Schlumberger’s management, including the Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), of the effectiveness of the design and operation of Schlumberger’s disclosure controls and procedures pursuant to Rule 13a-15 of the Securities Exchange Act of 1934 (the “Exchange Act”). Based on that evaluation, the CEO and CFO have concluded that Schlumberger’s disclosure controls and procedures were effective as of ~~March 31,~~June 30, 2005 to ensure that information required to be disclosed by Schlumberger in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms. There has been no change in our internal controls over financial reporting that occurred during the quarter ended ~~March 31,~~June 30, 2005 that has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.

*	Mark of Schlumberger

PART II. OTHER INFORMATION

Item 2: Unregistered Sales of Equity Securities and Use of Proceeds

Unregistered Sales of Equity Securities

~~None~~During the quarter ended June 30, 2005, Schlumberger issued 67 shares of its common stock upon conversion of $5,000 aggregate principal amount of its 1.500% Series A Convertible Debentures due June 1, 2023. Such shares were issued in a transaction exempt from registration under Section 3(a)(9) of the Securities Act of 1933, as amended.

On May 11, 2005, Schlumberger delivered from treasury 1,150,323 shares of its common stock as partial consideration for the acquisition of an additional 25% equity stake in PetroAlliance Services Company Limited. Such shares were issued in transactions exempt from registration under Section 4(2) and Regulation S of the Securities Act of 1933, as amended.

Share Repurchases

On July 22, 2004, the Board of Directors of Schlumberger approved a share buyback program of up to 15 million shares to be acquired in the open market before December 2006, subject to market conditions.

-27-

The following table sets forth information on Schlumberger’s common stock repurchase program activity for the ~~quarter~~three months ended ~~March 31,~~June 30, 2005.


								~~(Stated in thousands except per share amounts~~	)

   Total Number
of shares
purchased
   Average Price
paid per
share
   Total Number of
shares purchased
as part of publicly
announced program

Maximum Number of
shares that may yet
be purchased
under the program
January 1 through January 31, 2005
   —      $ —      —      9,851.8
February 1 through February 28, 2005
   275.3    $ 68.78    275.3    9,576.5
March 1 through March 31, 2005
   737.4    $ 73.33    737.4    8,839.1




   1,012.7    $ 72.09    1,012.7

(Stated in thousands except per share amounts)


	Total number of shares purchased	Average price paid per share		Total number of shares purchased as part of publicly announced program	Maximum number of shares that may yet be purchased under the program
April 1 through April 30, 2005	139.2	$	69.54	139.2	8,699.9
May 1 through May 31, 2005	2,285.8	$	67.70	2,285.8	6,414.1
June 1 through June 30, 2005	340.0	$	73.54	340.0	6,074.1

	2,765.0	$	68.51	2,765.0

In connection with the exercise of stock options under Schlumberger’s incentive compensation plans, Schlumberger routinely receives shares of its common stock from optionholders in consideration of the exercise price of the stock options. Schlumberger does not view these transactions as implicating the disclosure required under this Item. The number of shares of Schlumberger common stock received from optionholders is immaterial.

~~-21-~~

~~Item 4: Submission of Matters to a Vote of Security Holders~~

a)	~~The Annual General Meeting of Stockholders of the Registrant (“the Meeting”) was held on April 13, 2005.~~

At the Meeting, the number of Directors was fixed at 12 and the following 12 individuals were elected to comprise the entire Board of Directors of the Registrant, each to hold office until the next Annual General Meeting of Stockholders and until a director’s successor is elected and qualified or until a director’s death, resignation or removal. All of the nominees, except Michael E. Marks and Rana Talwar, were directors who were previously elected by the stockholders.

~~John Deutch~~

~~Jamie S. Gorelick~~

~~Andrew Gould~~

~~Tony Isaac~~

~~Adrian Lajous~~

~~André Lévy-Lang~~

~~Michael E. Marks~~

~~Didier Primat~~

~~Tore I. Sandvold~~

~~Nicolas Seydoux~~

~~Linda Gillespie Stuntz~~

~~Rana Talwar~~

The Meeting also voted (i) to adopt and approve the Company’s Consolidated Balance Sheet as at December 31, 2004, its Consolidated Statement of Income for the year ended December 31, 2004, and the declaration of dividends reflected in the Company’s 2004 Annual Report to Stockholders; (ii) to approve mandatory amendments to the Company’s Articles of Incorporation; (iii) to approve voluntary amendments to the Articles of Incorporation; (iv) to approve and adopt the Schlumberger 2005 Stock Option Plan; (v) to approve and adopt an amendment to the Schlumberger Discounted Stock Purchase Plan and (vi) to approve the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm to audit the accounts of the Company for the year 2005.

~~The votes cast were as follows:~~

Directors
   For
   Withheld
John Deutch
   357,396,755    136,667,686
Jamie S. Gorelick
   488,854,213    5,210,228
Andrew Gould
   484,777,456    9,286,985
Tony Isaac
   489,369,815    4,694,626
Adrian Lajous
   489,379,712    4,684,729
André Lévy-Lang
Michael E. Marks
Didier Primat
   484,402,996
489,286,937
424,786,130    9,661,445
4,777,504
69,278,311
Tore I. Sandvold
   489,220,317    4,844,124
Nicolas Seydoux
   484,591,042    9,473,399
Linda G. Stuntz
   484,692,880    9,371,561
Rana Talwar
   488,832,584    5,231,857

~~-22-~~


~~Financials:~~

For

Against

Abstain
478,363,520 591,227 15,109,694

~~Mandatory Amendments to the Articles of Incorporation:~~

For

Against

Abstain
413,035,653 7,638,426 5,125,597



~~Voluntary Amendments to the Articles of Incorporation:~~

For

Against

Abstain
409,295,837 11,178,638 5,325,201



~~Schlumberger 2005 Stock Option Plan:~~

For

Against

Abstain
410,619,746 10,598,931 4,580,999



~~Amendment to Schlumberger Discounted Stock Purchase Plan:~~

For

Against

Abstain
417,754,868 3,495,272 4,549,536



~~PricewaterhouseCoopers:~~

For

Against

Abstain
484,469,619 5,678,875 3,915,947

Item 6: Exhibits

Exhibit 3.1 Articles of Incorporation of Schlumberger ~~Limited~~N.V. (Schlumberger ~~N.V.)~~Limited) as last amended and restated on April 13, 2005 (incorporated by reference to Appendix 1 to Schlumberger’s definitive proxy statement for the 2005 Annual General Meeting of Stockholders held on April 13, 2005).

Exhibit 3.2 Amended and Restated Bylaws of Schlumberger ~~Limited~~N.V. (Schlumberger ~~N.V.)~~Limited) (incorporated by reference to Exhibit 3.1 to Schlumberger’s Current Report on Form 8-K filed on April 22, 2005).

Exhibit 10.1 ~~Form~~Schlumberger 2005 Stock Option Plan (incorporated by reference to Appendix 2 to Schlumberger’s definitive proxy statement for the 2005 Annual General Meeting of ~~Indemnification~~Stockholders held on April 13, 2005).

Exhibit 10.2 Fifth Amendment to Schlumberger Discounted Stock Purchase Plan (incorporated by reference to Appendix 3 to Schlumberger’s definitive proxy statement for the 2005 Annual General Meeting of Stockholders held on April 13, 2005).

Exhibit 10.3 Purchase Agreement, dated June 28, 2005, among Schlumberger N.V. (Schlumberger Limited), Lehman Brothers Inc., Kellyanna Limited Company and the selling stockholders named therein (incorporated by reference to Exhibit ~~10.1 to~~1.1 of Schlumberger’s Current Report on Form 8-K filed on ~~April 22,~~June 29, 2005).

Exhibit 31.1 Certification of Chief Executive Officer pursuant to Form of Rule 13a-14(a) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Exhibit 31.2 Certification of Chief Financial Officer pursuant to Form of Rule 13a-14(a) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Exhibit 32.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

Exhibit 32.2 Certification Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

~~-23-~~-28-

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized and in his capacity as Chief Accounting Officer.


		Schlumberger Limited
		(Registrant)

Date: ~~April~~July 28, 2005		/s/ ~~Frank A. Sorgie~~Howard Guild
		~~Frank A. Sorgie~~Howard Guild
		Chief Accounting Officer and Duly ~~Authorized~~ Authorized Signatory

~~-24-~~-29-


		(Stated in millions)

Three months ended March 31,	2005			2004
Revenue	$	—		$	364

Income (loss) before tax		(1	)		28
Tax expense		—			6
Gains on disposal, net of tax		—			91

Income from discontinued operations	$	(1	)	$	113


(Stated in millions except per share amounts)
	Period Ended March 31,
	2005			2004
Net income
As reported	$	523		$	220
Proforma adjustments:
Cost of Stock Options		(6	)		(14	)
Tax benefit		1			1

Proforma	$	518		$	207

Basic earnings per share
As reported	$	0.89		$	0.37
Proforma adjustments:
Cost of Stock Options		(0.01	)		(0.02	)

Pro forma	$	0.88		$	0.35

Diluted earnings per share
As reported	$	0.86		$	0.37
Proforma adjustments:
Cost of Stock Options		(0.01	)		(0.02	)

Pro forma	$	0.85		$	0.35


		(Stated in millions)

	FIRST QUARTER 2005													FIRST QUARTER 2004
	Revenue		Income after tax & MI			Minority Interest		Tax Expense			Income before tax & MI			Revenue		Income after tax & MI			Minority Interest		Tax Expense			Income before tax & MI
Oilfield Services
North America	$	868	$	134		$	—	$	69		$	203		$	725	$	82		$	—	$	41		$	123
Latin America		469		51			—		13			64			395		49			—		12			61
Europe/CIS/W. Africa		751		99			—		25			124			648		85			—		21			106
Middle East & Asia		668		153			—		21			174			559		121			—		18			139
Elims/Other		23		(9	)		—		3			(6	)		32		(10	)		—		4			(6	)

		2,779		428			—		131			559			2,359		327			—		96			423

WesternGeco		378		25			11		28			64			313		10			4		20			34

Elims & Other		2		(38	)		6		(21	)		(53	)		1		(23	)		4		(38	)		(57	)

	$	3,159	$	415		$	17	$	138					$	2,673	$	314		$	8	$	78

Interest Income												19													14
Interest Expense⁽¹⁾												(44	)												(68	)
Charges and credits⁽²⁾												134													(184	)

											$	679												$	162


Directors	For	Withheld
John Deutch	357,396,755	136,667,686
Jamie S. Gorelick	488,854,213	5,210,228
Andrew Gould	484,777,456	9,286,985
Tony Isaac	489,369,815	4,694,626
Adrian Lajous	489,379,712	4,684,729
André Lévy-Lang Michael E. Marks Didier Primat	484,402,996 489,286,937 424,786,130	9,661,445 4,777,504 69,278,311
Tore I. Sandvold	489,220,317	4,844,124
Nicolas Seydoux	484,591,042	9,473,399
Linda G. Stuntz	484,692,880	9,371,561
Rana Talwar	488,832,584	5,231,857