Schlumberger

According to its Quarterly Report filed with the SEC for the quarterly period that ended March 31, 2020: "In 2013, Schlumberger completed the wind down of its service operations in Iran. Prior to this, certain non-US subsidiaries provided oilfield services to the National Iranian Oil Company and certain of its affiliates (“NIOC”).

Schlumberger’s residual transactions or dealings with the government of Iran during the first quarter of 2020 consisted of payments of taxes and other typical governmental charges. Certain non-US subsidiaries of Schlumberger maintain depository accounts at the Dubai branch of Bank Saderat Iran (“Saderat”), and at Bank Tejarat (“Tejarat”) in Tehran and in Kish for the deposit by NIOC of amounts owed to non-US subsidiaries of Schlumberger for prior services rendered in Iran and for the maintenance of such amounts previously received. One non-US subsidiary also maintained an account at Tejarat for payment of local expenses such as taxes. Schlumberger anticipates that it will discontinue dealings with Saderat and Tejarat following the receipt of all amounts owed to Schlumberger for prior services rendered in Iran."

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As stated in its 2017 SEC 10-K: "Schlumberger’s residual transactions or dealings with the government of Iran during 2017 consisted of payments of taxes and other typical governmental charges. Certain non-US subsidiaries of Schlumberger maintain depository accounts at the Dubai branch of Bank Saderat Iran (“Saderat”), and at Bank Tejarat (“Tejarat”) in Tehran and in Kish for the deposit by NIOC of amounts owed to non-US subsidiaries of Schlumberger for prior services rendered in Iran and for the maintenance of such amounts previously received. One non-US subsidiary also maintained an account at Tejarat for payment of local expenses such as taxes. Schlumberger anticipates that it will discontinue dealings with Saderat and Tejarat following the receipt of all amounts owed to Schlumberger for prior services rendered in Iran.

During the fourth quarter of 2016, a non-US subsidiary entered into a memorandum of understanding (“MOU”) with NIOC relating to the non-disclosure of data required for the technical evaluation of an oilfield project.  In the first quarter of 2017, the Schlumberger subsidiary provided NIOC with written notice that it was terminating the MOU, effective March 11, 2017. The MOU did not involve the provision of services.  During the second quarter of 2017, and in furtherance of the termination of the MOU, the Schlumberger subsidiary had residual dealings with the NIOC consisting solely of the return of client data."  

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In 2017 the U.S. state of Michigan listed Schlumberger on its Iran restricted investment list rendering Schlumberger in eligible for investment and/or state contracting.

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On January 3, 2017, the National Iranian Oil Company (“NIOC”) listed Schlumberger as one of the “designated 29 non-Iranian companies [ ] qualified to participate in its pending tender round for upstream projects.”  (Oil & Gas Journal Website, “NIOC qualifies 29 firms for tender round,” 1/3/2017).  

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Schlumberger reportedly signed a memorandum of understanding in November 2016 with a NIOC subsidiary, National Iranian South Oil Company, “over the development of several southern oil fields.” (Mehr News Agency, “Schlumberger enters Iran again,” 12/26/2016).

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"Schlumberger Ltd., the world’s largest oil driller by market value, said Sunday it had signed a preliminary deal to study an Iranian oil field, as Donald Trump’s presidential victory has yet to deter U.S.-connected companies from dealing with Tehran. The contract is one of the most prominent signed since the Nov. 8 election. Mr. Trump has vowed to undo a nuclear pact with Tehran signed last year by global powers. The pledge has led many international companies to freeze their plans to enter the Islamic Republic despite the country’s huge potential as an energy and consumer market. But a spokesman for Schlumberger, one of the world’s largest oil-services companies, told The Wall Street Journal it has signed a memorandum of understanding with the state-run National Iranian Oil Company “for the non-disclosure of data required for a technical evaluation of a field development prospect.” Though it is incorporated in Curaçao in the Dutch Antilles, Schlumberger has one of its headquarters in Houston, while some of its shares trade in New York. If completed, the deal would be the first in Iran for Schlumberger since European sanctions for the company to leave the country in 2010." (Wall Street Journal, "Schlumberger Signs Early Oil Deal With Iran," 11/28/2016).

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"Schlumberger NV, the world's No.1 oilfield services provider, said it would look at returning to Iran once the sanctions are lifted. 'When the sanctions are lifted and when it is permissible, we will evaluate going back in,' Chief Executive Paal Kibsgaard said on a post-earnings call." (Ahram Online, "Schlumberger says Evaluating Iran Return After Sanctions End," 7/17/15)

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"The U.S. Justice Department said on Wednesday that a subsidiary of Schlumberger Oilfield Holdings had pleaded guilty to violating U.S. sanctions related to Iran and Sudan and would pay a $237.2 million fine. The oil well manufacturing company also agreed to a three-year period of corporate probation, during which it will cease all operations in Iran and Syria and hire an independent consultant to review its policies on complying with sanctions. 'For years, in a variety of ways, this foreign company facilitated trade with Iran and Sudan from Sugar Land, Texas,' U.S. Attorney Ronald C. Machen, Jr. said. 'Today's announcement should send a clear message to all global companies with a U.S. presence: Whether your employees are from the U.S. or abroad, when they are in the United States, they will abide by our laws or you will be held accountable,' Machen warned. In a statement, Schlumberger said it voluntarily ceased oilfield operation in Iran as of the second quarter of 2013 and said it has ceased oilfield operations in Sudan as of the plea agreement." (Reuters, "REFILE-UPDATE 3-Schlumberger Pleads Guilty to Violating U.S. sanctions on Iran, Sudan" 3/25/2015)

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"Oil field services giant Schlumberger Ltd. said in a securities filing that it wound down its operations in Iran, which ran at a loss. The disclosure, made late Wednesday in a securities filing under sanctions law requirements that went into effect in February, said non-U.S. subsidiaries of Schlumberger provided oilfield services to the National Iranian Oil Co. in the first half of the year as the company completed its wind-down of the operations during the second quarter. Schlumberger earned $102 million in revenue during 2013 for the Iranian activity, resulting in a net loss of $69 million, it said in the filing. The company, which is the world’s largest oil field services firm, reported quarterly revenue of $11.2 billion, up more than 8% from the same period in 2012." (The Wall Street Journal, "Schlumberger Discloses Iran Operations Wind-Down, 7/25/2013")

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"Khazar has also been working with Schlumberger, one of the last Western oilfield services firms currently operating in Iran. However, in January, Schlumberger, which has principal offices in Houston, Paris, and the Hague, announced that it will exit the country by the end of this year, after having booked USD 418m in revenue in 2012 through oilfield services provided by 'certain non-US subsidiaries' to the NIOC. 'Schlumberger intends to discontinue such activity in Iran in 2013 and is currently winding down its operations there,' the company stated in its annual report, adding that Schlumberger will leave once its ongoing contracts in the country expire." (Financial Times, "Iran seeks Chinese proxies to further offshore drilling ambitions," 5/31/2013) 

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"The world's largest oil-services company has quietly promised the US State Department that it will pull out of Iran when its current contracts are complete, a spokesman for Schlumberger Ltd. has confirmed, marking what could be a major victory in the US struggle to cut off Iran's access to funds for its nuclear program. 'If it is true, it's huge,' said Richard Modesette, a former Commerce Department special agent. But internal company documents obtained by The Boston Globe show that Schlumberger - which is under investigation for possible sanctions violations - has signed contracts worth hundreds of millions of dollars that it intends to complete before it exits. Those contracts will keep the company, believed to be the last Western oil-services firm in Iran, working in the oil-rich country until least 2013, a delay that has angered some US officials....But if Iran agrees to curb its nuclear program, sanctions could ease by the time Schlumberger’s last contract expires....In that case, the firm could just keep on doing business." (Boston Globe, "Oil firm says it will withdraw from Iran," 11/12/10)

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"The oil exploration giant has long been active in Iran and continues to provide drilling and exploration services to Iran's oil and gas sector, according to filings with the Securities and Exchange Commission. "We work in more than 80 countries around the world, including Iran, and we abide by the rules in those countries," said a company spokesman, Stephen Whittaker, adding: "We don't take a position on what the country does or doesn't do. It is what it is."" 

From 2000-2009, the company was a recipient of $30.7 million US federal funds.  Their investments in Iran are currently active, however there are no plans for new investments.  (The New York Times, "Profiting from Iran, and the US." 3/6/2010)

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Schulmberger lists a regional "Iran GeoMarket" headquarters office in Tehran (Company website, 7/13/09)

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"But the device - developed by the oil-services firm Schlumberger in labs in Connecticut and Texas - was brought to Iran through a legal loophole that allows multinational corporations to use foreign subsidiaries to sidestep US sanctions, according to a Globe investigation. Schlumberger acknowledges that its US-developed tool has been used in Iran, and a spokesman said the company followed all applicable laws and regulations." (The Boston Globe, "Oil firm sidesteps sanctions on Iran," 12/7/08)

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"In the early 1940 s, Texaco paid for its own dealings with hostile regimes such as Nazi Germany and Imperial Japan. And there are similarities with Schlumbergers business in Sudan, Iran and Venezuela, Rewcastle says. Schlumberger is the only major E&P company left in Iran and Sudan, he says. But its operations are well-diversified throughout the world. Its business sprawls over regions where drilling demand is surging, Gengaro says." (Investors Business Daily, "Schlumberger Makes Itself The Go-To Oil Services Firm," 8/1/07)

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Listed by U.S. Government as doing business in Iran. (U.S. Securities and Exchange Commission, List of Companies Doing Business With State Sponsors Of Terror, Removed from the internet in July of 2007)