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Olivier Le Peuch

Chief Executive Officer & Director, Schlumberger

Search every verified Olivier Le Peuch interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Olivier Le Peuch, chief executive officer of SLB, discussed the company’s second-quarter 2026 results and outlook during earnings calls held on July 24, 2026. He stated that the market is beginning to exhibit characteristics of an upcycle, citing needs to replenish inventories, diversify supply, and rebuild spare capacity as drivers of increased customer investment. According to Le Peuch, third-party reports indicate final investment decisions for long-cycle projects are expected to rise by approximately 30% year on year in 2026, supporting higher exploration spending and upstream capex growth, particularly in Africa, with broader impact expected in 2027 across Latin America, the Mediterranean, and Asia. He also said that deepwater activity is expected to accelerate into 2027. Le Peuch addressed production recovery in the Middle East, saying the impact of recent disruptions is largely transitory but that restoring output to prior levels will require higher service intensity, well intervention, equipment demand, and infrastructure repairs. He noted that it would not be prudent to assume production would be restored within weeks, citing security concerns in Iraq and capacity limitations in Kuwait. Regarding SLB’s data center business, Le Peuch said the company now expects to exit 2027 with an annualized revenue run rate exceeding $2 billion, and expressed an ambition to become an industrial technology partner to the data center industry, potentially adding adjacent capabilities such as decarbonized power and cooling solutions. He described SLB’s position as aligned with customer investment priorities in international and deepwater markets, production recovery, and digital and AI solutions.

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