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The following is an excerpt from a 8-K SEC Filing, filed by SCHLUMBERGER LTD /NY/ on 4/18/2002.
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SCHLUMBERGER LTD /NV/ - 8-K - 20020418 - EXHIBIT_99

Exhibit 99.1


1st Quarter 2002 Results - Supplemental Information

A) Schlumberger Limited

Q1)      Does the Company expect a goodwill impairment charge in 2002?

         No. We have completed our review for goodwill impairment. We have used
         an independent valuation firm, which has allocated the goodwill arising
         from the Sema plc acquisition to both the historical businesses of
         Sema, as reorganized under SchlumbergerSema, and to Oilfield Services
         (OFS). A portion of the Sema goodwill has been allocated to the
         expected synergies to be obtained with OFS for which there is no
         impairment. The remaining goodwill relates to the Sema acquired
         businesses. Based on current valuation, there is no impairment of any
         Schlumberger goodwill.

Q2)      What was the Q1 effective tax rate and what do you expect the effective
         tax rate to be for the year?

         We believe that the effective percentage tax rate will decline to the
         mid 20's from the upper 20's primarily due to lower pretax income in
         North America. The Q1 effective tax rate before the provision for
         Argentina was 24% compared to 26% in Q4 2001 and 27% in Q1 2001. The
         latter two percentages are before unusual items and amortization of
         goodwill and assembled work force, consistent with Q1 2002.

Q3)      Why did your liquidity deteriorate in Q1?

         Liquidity in the quarter dropped $347 million due mainly to the
         expected $132 million payment to former LHS/Sema shareholders under the
         terms of an exchange agreement to acquire Sema shares and spending of
         severance and other 2001 provisions. Additionally, the first quarter
         includes payments of employee prior year bonuses and contributions to
         pension and profit sharing plans. Income tax payments in the quarter
         were $85 million.

Q4)      What is the difference between OFS pretax income and the sum of the
         four business Areas?

         The main difference comes from headquarters projects and costs, which
         were partially offset by the income of Schlumberger Network Solutions.

Q5)      What is the difference between the SchlumbergerSema pretax income and
         the business Areas?

         Headquarters' costs make up the fundamental difference and these are
         not allocated to the Areas.

Q6)      What is the difference between Schlumberger pretax income and the
         pretax income of the business segments including income from `Other'

         Major items include headquarters expenses, interest on post-retirement
         benefits and amortization of identifiable intangibles. These are
         partially offset by currency exchange gains.

Q7)      What is the present guidance on full year 2002?

         Capex: $1.4 - $1.5 billion
         Multiclient: $400 - $500 million
         Depreciation and amortization: $1.4 - $1.5 billion

Q8)      What reclassifications have been made to prior results and why?

         We have made several reclassifications so that the prior periods are
         comparable with our current reporting structure.

         The Public Phones and Danyl businesses have been moved from the
         SchlumbergerSema segment and are now included in `Other'. Revenue and
         pretax loss in Q4 2001 were $18 million and $6 million respectively
         compared to Q1 2001 figures of $20 million and $4 million. The
         corresponding figures for Q1 2002 are $10 million and $6.5 million

         The SchlumbergerSema business segment is now managed and reported
         geographically and we have restated last year's segment disclosures on
         the same basis.

         Prior year revenue has been restated to include reimbursable costs
         billed to customers, which had been classified as a contra expense and
         now must be classified as revenue in accordance with FASB EITF Topic
         D-103. The reclassification was only required in OFS as
         SchlumbergerSema was already in compliance with the new standard. OFS
         first quarter 2002 revenue increased by $130 million as a result. All
         prior periods have been reclassified. The adoption of this standard had
         no effect on cash flow or net income.

Q9)      How much off-balance sheet financing was outstanding at quarter end?

         Customer receivables securitization at March 31 was $209 million.
         However, we have no continuing interest in these receivables.

Q10)     Why did you do a bond offering in the United States?

         Our debt in the United States was primarily in Commercial Paper and we
         wanted to diversify our sources of funding and secure long-term
         financing at an attractive fixed rate. We believe that the time was
         right to do this. We should point out that quarterly interest expenses
         will increase by about $11 million as a result.

Q11)     What is the comparative amortization of intangibles?

         FASB # 142 was effective January 1, 2002. Amortization of goodwill and
         assembled work force has stopped. Q1 2002 includes after tax
         amortization of other identifiable intangibles of $12 million compared
         to $33 million in Q1 2001 and $105 million in Q4 2001.

Q12)     Why did you record a charge related to Argentina in this quarter?

         On page 19 of our 2001 Annual Report to Shareholders, we noted that OFS
         revenue in Argentina was less than 2 % of total OFS revenue and that we
         were reviewing our exposure and taking steps to minimize any risk. In
         January, the government eliminated all US dollar contracts and
         converted US dollar-denominated accounts receivable into pesos. As a
         result our currency exposure increased significantly. With the currency
         devaluation we incurred an exchange loss (net of hedging) on our net
         assets, primarily customer receivables. In addition, we recorded
         provisions for downsizing facilities and headcount. The small
         SchlumbergerSema exposure in Argentina was also provided for.

B) Oilfield Services

Q13)     What is the general outlook for the Areas in terms of activity?

         Overall the second quarter should represent the low period in terms of
         activity as the rig count continues to fall in North America and
         political and economic uncertainty in Argentina and Venezuela slow
         investment. The underlying gas fundamentals in North America are still
         strong with recent reports from industry observers showing that US gas
         depletion has increased to 29% overall, up from 19% a year ago.
         However, current storage levels remain high and an increase in demand
         is needed to create a meaningful recovery in gas drilling in the later
         half of the year.

         North America (NAM)

         The big question in NAM is the sustainability of gas pricing. Sustained
         pricing above $3.00 for a few months will drive a recovery in drilling
         rig activity.

         Latin America (LAM)

         Unfortunately, political and economic concerns in Argentina and
         Venezuela will obscure visibility overall. We would expect to see some
         activity improvements in Mexico and central LAM. (See separate comments
         on Venezuela and Argentina)

         Europe/CIS/West Africa

         Continued investment in Nigeria, West Africa and Russia should drive
         activity growth in this area. In both of the major North Sea producing
         nations, government and industry are taking steps to restructure their
         oil and gas sectors to make them more internationally competitive. This
         also involves shifting focus from small numbers of very large projects
         to larger numbers of smaller projects. Government pressure coupled with
         increasing decline rates of the major fields should see investment
         improve in the future.

         Middle East and Asia

         Despite growing political concerns in the Middle East, activity in this
         area is relatively stable and should remain this way throughout the
         year. Asia is showing signs of improvement driven by Malaysia,
         Indonesia and India, which should continue to grow nicely this year.

Q14)     What is the Schlumberger view on the latest situation in Venezuela?

         We anticipate some short-term activity reduction in light of the
         current concern over the political situation and the present
         uncertainty regarding the management structure at PdVSA. However, the
         current decline curves and unfavorable mix of heavier oils in
         Venezuela's basket of crude will necessitate a return to exploration in
         pursuit of light hydrocarbons. Therefore, once the current turmoil
         subsides, we would anticipate reasonably robust improvement in activity
         levels in the later part of the

         year. Action plans are in place to ensure that we match our resource
         base with the projected activity level.

Q15)     Which technology segments have seen the greatest pricing erosion or
         stability in North America this quarter?

         Pressure pumping pricing has deteriorated quickly as lower activity
         generated excess capacity, particularly at the lower end of the market.
         Pricing will remain extremely competitive until demand for services

Q16)     How is the non-US pricing environment?

         Outside of North America pricing has held up quite well and there has
         been no real pressure to date. We do not see pricing deteriorating
         given the modest increases in activity expected this year.

Q17)     How many boats have been fitted with the Q-system to date, and how many
         are forecast for 2002?

         WesternGeco marine continued its aggressive deployment of Q-technology.
         The Western Neptune, capable of deploying 10 eight-kilometer streamers,
         was commissioned during the quarter and started shooting a multiclient
         program in the Gulf of Mexico. Four vessels have now been equipped with
         the Q-system; the Geco Topaz, Western Pride, Geco Searcher and Western
         Neptune. There are no plans to equip further vessels this year unless
         demand increases.

Q18)     Where are the growth areas in marine seismic?

         The marine product line showed strong growth in Q1 02 vs. Q1 01 in
         virtually every Area except North America, where vessels have been
         shooting multiclient surveys. Sales were up in Q1 02 compared to Q4 01
         driven primarily by activity in Latin America and Asia.

Q19)     Where are the main growth areas in land seismic?

         Land enjoyed a strong quarter despite reductions in activity in Latin
         America. Activity focused on high capacity crews in the Middle East and
         North Africa. A 2-year contract extension was awarded to WesternGeco in
         Oman. Land revenue increased by 3% versus Q1 2001 and profitability
         improved considerably.

Q20)     What is the current size of the WesternGeco multiclient library?

         The net book value of the multiclient library as of March 31, 2002 was
         $1,083 million.

Q21)     Where are the main areas of multiclient sales strength?

         Worldwide, the Gulf of Mexico is the largest market for multiclient
         license sales due to the large number of players and the small block
         sizes. Activity in Q1 was low but should recover later in the year.

Q22)     What were multiclient sales in the quarter and what was the cost of

         Multiclient survey sales in the quarter were $106 million including
         about $35 million of surveys which had no net book value. Cost of goods
         sold was $30 million related to the quarter's total sales.

Q23)     What is the current growth in Schlumberger IT services offerings within
         the E&P industry?

         We expect to achieve double digit growth in 2002 primarily based on the
         introduction of network-leveraged offerings (LiveQuest, DeXa.Net), the
         deployment of security solutions (DeXa.Badge) and the outsourcing of IT
         infrastructure and data management. In 2003 we expect to accelerate the
         synergies and contributions from the world-class system integration
         offerings of SchlumbergerSema as we rollout expertise in the

C) SchlumbergerSema

Q24)     What accounted for the revenue and margin deterioration in Q1?

         Revenue decline was due to a combination of factors. First, end of year
         seasonality is always reflected in a large drop in revenue from fourth
         quarter to first quarter. Second, the uncertain global business and
         economic climate has led to slower, or has deferred, IT spending in our
         key markets. Third, the average sales price per card dropped at the end
         of last year, which has reduced margins. This has now stabilized
         somewhat due to an improved mix of high-end, high-growth rate products
         that were recently introduced.

Q25)     How is the SchlumbergerSema cost reduction program going? What are the
         annualized savings to date?

         We have achieved about 80% of our goal. Annualized savings so far
         aggregate about $117 million with $81 million in indirect costs, $30
         million in procurement cost efficiencies and $6 million in facilities
         integration. The first quarter benefited from higher savings of about
         $20 million compared to the fourth quarter.

Q26)     What is the outlook for 2002?

         The current business environment will impact 2002 growth projections,
         which are today weaker than initially expected. The industry observer
         predicted 9% growth in telecommunications IT spending is not likely to
         happen in the first half of the year as the large operators are
         restricting spending to projects that deliver very short-term returns.
         Conversely, medium-size operators, especially in the Middle East and
         Asia, are still investing in upgrading both their networks and their
         billing and messaging systems.

Q27)     Given the weaker IT environment, do the previously stated goals of 20%
         top line growth and 10% IBT for 2003 remain?

         Given the current slump in IT spending, we have been forced to lower
         our projections for 2002. We still believe that we can grow the
         business in 2003, particularly with the synergies we are already
         experiencing with Oilfield Services, however it will be from a lower
         revenue base. Profitability expectations remain unchanged as we look to
         accelerate synergies and cost savings.

Q28)     What are included in `Volume Products'?

         Smart cards, terminals for point-of-sale (POS) and parking and mass
         transit terminals make up these products.

Q29)     What were the Volume Products results for the period?

         Volume Products revenue was $189 million and pretax operating results
         were $2 million compared to $ 207 million and $31 million respectively
         in Q1 2001. Q4 2001 results were $230 million and $8.5 million
         respectively. Average selling prices of mobile communications cards
         declined 25% from Q1 2001 to Q1 2002.

Q30)     How large is the SchlumbergerSema backlog or book-to-bill ratio?

         Order flow continues to be in line with, or slightly above revenue;
         SchlumbergerSema has a very healthy backlog.

Q31)     What is the positioning of SchlumbergerSema in the consulting business?

         We are not positioning ourselves as "business consultants" in the
         traditional sense. Our consulting practice focuses on markets where we
         have deep experience; telecommunications, energy & utility, finance,
         transport and the public sector. We focus on every stage of our
         customers' transformation processes that are essential to their
         business performance, from strategic planning to the implementation of
         large-scale complex enterprise systems.

Q32)     Are you seeing any positive signs of growth in the telecommunications

         The telecommunications industry is still feeling the effects of over
         spending and global macro-economic sluggishness, however growth in
         messaging services continues, specifically in Europe, Asia and South
         America. In addition, we have experienced an increase in outsourcing
         contracts for billing services with large, well-established operators.

Q33)     Are you seeing positive signs of growth in the smart card market?

         Asia remains strong in volume, however margins have eroded due to
         increased competition for prepaid telecommunications products. North
         America is off to a good start, with telecommunications operators
         migrating to GSM, coupled with sales to CDMA and TDMA operators who are
         adopting smart cards in preparation for the move towards 2.5G and 3G
         networks. The strongest growth is in IT and banking-related smart card

Q34)     How has the Enron crisis impacted the utilities business in North

         In our business it plays two ways. On one hand it provides us with
         opportunities that we did not have before. On the other hand we are

         concerned that it will set back deregulation of the electricity and gas
         businesses. It is a little early to tell exactly how this is going to
         play out.

Q35)     How is the SchlumbergerSema outsourcing business progressing?
         We have seen an increase in bidding activity for outsourcing projects
         as a reflection of the economic downturn as customers look to reduce
         operational costs and maximize business performance. However, the sales
         cycle of larger outsourcing contracts can be quite a long process.

This question and answer document contains forward looking statements, which include any statements that are not historical facts, such as our expectations regarding business outlook, conditions in the oilfield service business, benefits from contract awards, future results of operations, pricing, cost reductions, improvements in the performance of SchlumbergerSema and a rebound in the economy. These statements involve risks and uncertainties, including, but not limited to, changes in exploration and production spending by major oil companies; continuing customer commitment to certain key oilfield projects; general economic and business conditions in key regions of the world; economic, competitive and technological factors affecting markets, services, and prices in newly acquired SchlumbergerSema businesses and our ability to integrate these businesses and to realize synergies from these acquisitions; uncertainties created by deregulation in the utility industry and the extent and timing of utilities' investment in integrated solutions to utility management; continuing customer commitment to key long-term services and solutions contracts in our SchlumbergerSema businesses; the extent and timing of a recovery in the telecommunications industry; growth in demand for smart cards in e-commerce and network and Internet-enabled solutions, and other factors detailed in our most recent Form 10-K 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.