Oilfield services company Schlumberger said over the coming months it would undertake a companywide restructuring to adapt to the challenges of the energy industry. This announcement comes more than a month after implementing salary reductions and job cuts in early April, which is aligned with its plans to reduce capital spending.
The restructuring would revolve around the creation of divisions and basins based on the company’s performance strategy.
The four divisions will be in line with customers’ exploration and production workflows which include: digital and integration, reservoir performance, well construction, and production systems.
The five basins will address customers’ specific needs where they operate in the following: Americas land, offshore Atlantic, Middle East and North Africa, Asia, and Russia and Central Asia.
The basins will also oversee 30 GeoUnits to provide greater local autonomy and enable fit-for-basin technology innovation.
Schlumberger’s announcement also comes as media outlets said the company would reshuffle top executives along with the restructuring, citing a company memo.
Schlumberger did not confirm details of the executive restructuring, which reportedly includes:
Hinda Gharbi, executive vice president (VP) of reservoir and infrastructure, will become executive vice president of services and equipment, in charge of the four product divisions.
Khaled Al Mogharbel, executive VP of operations will become executive VP of geographies, in charge of regional operations group and its sales and commercial teams.
Patrick Schorn, VP of wells, and Jean-Francois Poupeau, VP of corporate engagement will leave the company, while finance chief Stephane Biguet, and new energy chief Ashok Belani will continue in those roles.