SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

PFERDEHIRT DOUG

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/26/2003

3. Issuer Name and Ticker or Trading Symbol
SCHLUMBERGER LTD /NV/ [ slb ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VICE PRESIDENT

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	4,945	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Incentive Stock Option (right to buy)	10/19/1995⁽¹⁾	10/19/2004	Common Stock	5,495	24.966	D
Incentive Stock Option (right to buy)	04/16/1997⁽²⁾	04/16/2006	Common Stock	6,594	38.473	D
Incentive Stock Option (right to buy)	10/16/1997⁽³⁾	10/16/2006	Common Stock	340	42.596	D
Incentive Stock Option (right to buy)	04/21/2000⁽⁴⁾	04/21/2009	Common Stock	3,622	55.619	D
Incentive Stock Option (right to buy)	04/17/2003⁽⁵⁾	04/17/2012	Common Stock	3,588	55.745	D
Incentive Stock Option (right to buy)	04/19/2001⁽⁶⁾	04/19/2010	Common Stock	3,041	73.032	D
Incentive Stock Option (right to buy)	10/19/2001⁽⁷⁾	10/19/2010	Common Stock	150	82.282	D
Incentive Stock Option (right to buy)	10/21/1998⁽⁸⁾	10/21/2007	Common Stock	1,148	82.348	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	10/16/1997⁽³⁾	10/16/2006	Common Stock	8,451	42.596	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/21/2000⁽⁴⁾	04/21/2009	Common Stock	773	55.619	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/17/2003⁽⁵⁾	04/17/2012	Common Stock	11,412	55.745	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/15/1999⁽⁹⁾	04/15/2008	Common Stock	4,396	71.315	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/19/2001⁽⁶⁾	04/19/2010	Common Stock	2,959	73.032	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	10/19/2001⁽⁷⁾	10/19/2010	Common Stock	4,850	82.282	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	10/21/1998⁽⁸⁾	10/21/2007	Common Stock	4,346	82.348	D

Explanation of Responses:

1. Exercisable in five equal annual installments beginning October 19, 1995.

2. Option became exercisable in five annual installments beginning on April 16, 1997.

3. EXERCISABLE IN FIVE EQUAL ANNUAL INSTALLMENTS BEGINNING OCTOBER 16,1997

4. Exercisable in five equal annual installments beginning April 21, 2000.

5. Exercisable in five equal annual installments beginning April 17,2003.

6. The option became exercisable in five equal annual installments beginning April 19,2001.

7. The option vests in five equal installments beginning on October 19, 2001.

8. The option becomes exercisable in five equal annual installments beginning October 21, 1998.

9. The options became exercisable in five equal annual installments on April 15, 1999.

	By: /s/ Janet B. Glassmacher Attorney in fac For: Douglas Pferdehirt	07/02/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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