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^*

Poupeau Jean-Francois

(Last)

(First)

(Middle)

1123 JOSHUA LANE

(Street)

HOUSTON

77055

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/22/2010

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	18,141	D
Common Stock	78	I	SL Prof. Sharing Pln

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)	04/17/2003⁽¹⁾	04/17/2012	Common Stock	17,930	$27.873	D
Incentive Stock Option (right to buy)	07/21/2005⁽²⁾	07/21/2014	Common Stock	3,064	$32.618	D
Incentive Stock Option (right to buy)	01/22/2010⁽³⁾	01/22/2019	Common Stock	5,286	$37.845	D
Incentive Stock Option (right to buy)	01/18/2007⁽⁴⁾	01/18/2016	Common Stock	3,684	$54.235	D
Incentive Stock Option (right to buy)	01/21/2011⁽⁵⁾	01/21/2020	Common Stock	1,459	$68.505	D
Incentive Stock Option (right to buy)	07/19/2008⁽⁶⁾	07/19/2017	Common Stock	2,158	$92.7	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/17/2003⁽¹⁾	04/17/2012	Common Stock	2,070	$27.873	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/18/2002⁽⁷⁾	04/18/2011	Common Stock	10,000	$31.188	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	07/21/2005⁽²⁾	07/21/2014	Common Stock	4,436	$32.618	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/22/2010⁽³⁾	01/22/2019	Common Stock	29,714	$37.845	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	10/19/2001⁽⁸⁾	10/19/2010	Common Stock	8,000	$41.141	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/18/2007⁽⁴⁾	01/18/2016	Common Stock	16,316	$54.235	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/19/2007⁽⁹⁾	04/19/2016	Common Stock	20,000	$66.03	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/21/2011⁽⁵⁾	01/21/2020	Common Stock	28,541	$68.505	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	07/19/2008⁽⁶⁾	07/19/2017	Common Stock	37,842	$92.7	D
RSU (restricted stock unit)	02/04/2013⁽¹⁰⁾	02/04/2020	Common Stock	8,000	$0	D

Explanation of Responses:

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

2. This option becomes exercisable in four equal annual installments beginning July 21, 2005

3. This option becomes exercisable in five equal annual installments beginning January 22, 2010.

4. This option becomes exercisable in four equal annual installments beginning January 18, 2007.

5. This option becomes exercisable in five equal annual installments beginning January 21, 2011.

6. This option becomes exercisable in five equal annual installments beginning July 19, 2008.

7. The options become exercisable in five equal installments beginning April 18, 2002.

8. Exercisable in five equal annual installments beginning October 19, 2001.

9. This option becomes exercisable in five equal annual installments beginning April 19, 2007.

10. This restricted stock unit is subject to a 3-year cliff and will become exercisable on February 4, 2013.

	By: /s/Lynda M. Quagliara Attorney-in-Fact For: Jean-Francois Poupeau	05/03/2010
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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