Item 2.02 Results of Operations and Financial Condition.

The First Quarter 2008 Press Release furnished as Exhibit 99.1 hereto and the Supplemental Information regarding First Quarter Results furnished as Exhibit 99.2 hereto, were posted on the Schlumberger internet web site (www.slb.com/ir) on April 18, 2008.

In addition to financial results determined in accordance with generally accepted accounting principles (GAAP) that are included in the attached First Quarter 2008 Press Release and Supplemental Information, these documents also include the following non-GAAP financial measures (as defined under Regulation G of the Securities Exchange Act of 1934):

• Net debt: Net debt represents 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.

• Income from continuing operations before charges and credits; diluted earnings per share from continuing operations before charges and credits; pretax return on sales from continuing operations before charges and credits; after tax return on sales from continuing operations before charges and credits; and effective tax rate before charges and credits:
Management believes that the exclusion of charges and credits enables it to evaluate more effectively Schlumberger's operations period over period and to identify operating trends that could otherwise be masked by the excluded items.

The foregoing non-GAAP financial measures should be considered in addition to, not as a substitute for, or superior to, total debt, net income, cash flows or other measures of financial performance prepared in accordance with GAAP as more fully discussed in Schlumberger's financial statements and filings with the Securities and Exchange Commission.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The exhibits listed below are furnished pursuant to Item 9.01 of this Form 8-K.

99.1 First Quarter 2008 Press Release dated April 18, 2008.

99.2 Supplemental Information regarding First Quarter 2008 Results.

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