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^*

Schorn Patrick

(Last)

(First)

(Middle)

5599 SAN FELIPE, 17TH FLOOR

(Street)

HOUSTON

77056

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/07/2011

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)
	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, $0.01 par value per share	2,913	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)
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/19/2007⁽¹⁾	04/19/2016	Common Stock, $0.01 par value per share	6,972	$66.03	D
Incentive Stock Option (right to buy)	04/19/2007⁽²⁾	04/19/2016	Common Stock, $0.01 par value per share	3,028	$66.03	D
Incentive Stock Option (right to buy)	01/17/2009⁽³⁾	01/17/2018	Common Stock, $0.01 par value per share	2,354	$84.93	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/17/2009⁽⁴⁾	01/17/2018	Common Stock, $0.01 par value per share	17,646	$84.93	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	04/17/2009⁽⁵⁾	04/17/2018	Common Stock, $0.01 par value per share	20,000	$93.97	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/22/2010⁽⁶⁾	01/22/2019	Common Stock, $0.01 par value per share	27,358	$37.845	D
Incentive Stock Option (right to buy)	01/22/2010⁽⁷⁾	01/22/2019	Common Stock, $0.01 par value per share	2,642	$37.845	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/21/2011⁽⁸⁾	01/21/2020	Common Stock, $0.01 par value per share	28,541	$68.505	D
Incentive Stock Option (right to buy)	01/21/2011⁽⁹⁾	01/21/2020	Common Stock, $0.01 par value per share	1,459	$68.505	D
RSU (restricted stock unit)	02/04/2013⁽¹⁰⁾	02/04/2013	Common Stock, $0.01 par value per share	8,000	$0	D
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/20/2012⁽¹¹⁾	01/20/2021	Common Stock, $0.01 par value per share	43,808	$83.885	D
Incentive Stock Option (right to buy)	01/20/2012⁽¹²⁾	01/20/2021	Common Stock, $0.01 par value per share	1,192	$83.885	D

Explanation of Responses:

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

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

3. This option becomes exercisable in five equal annual installments beginning January 17, 2009.

4. This option becomes exercisable in five equal annual installments beginning January 17, 2009.

5. This option becomes exercisable in five equal annual installments beginning April 17, 2009.

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

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

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

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

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

11. This option becomes exercisable in five equal annual installments beginning January 20, 2012.

12. This option becomes exercisable in five equal annual installments beginning January 20, 2012.

	/s/Lynda Quagliara Attorney-in-Fact For: Patrick Schorn	02/16/2011
	** 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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