-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 Mjoxhg43L0cdEWOuJG+88VXkx3kOXz/4tPwg60rcy23qMfvkyXmtYoijOh2DpwWA
 cl0aJH59hxUGux1rYWALPQ==

<SEC-DOCUMENT>0001230615-07-000004.txt : 20070914
<SEC-HEADER>0001230615-07-000004.hdr.sgml : 20070914
<ACCEPTANCE-DATETIME>20070914164317
ACCESSION NUMBER:		0001230615-07-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070913
FILED AS OF DATE:		20070914
DATE AS OF CHANGE:		20070914

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SCHLUMBERGER LTD /NV/
		CENTRAL INDEX KEY:			0000087347
		STANDARD INDUSTRIAL CLASSIFICATION:	OIL, GAS FIELD SERVICES, NBC [1389]
		IRS NUMBER:				520684746
		STATE OF INCORPORATION:			P8
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		5599 SAN FELIPE
		STREET 2:		17TH FLOOR
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056
		BUSINESS PHONE:		7135132000

	MAIL ADDRESS:	
		STREET 1:		5599 SAN FELIPE
		STREET 2:		17TH FLOOR
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCHLUMBERGER NV
		DATE OF NAME CHANGE:	19920804

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCHLUMBERGER LTD
		DATE OF NAME CHANGE:	19880812

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			AYAT SIMON
		CENTRAL INDEX KEY:			0001230615

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04601
		FILM NUMBER:		071118132

	BUSINESS ADDRESS:	
		STREET 1:		C/O SCHLUMBERGER LRD
		STREET 2:		153RD STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		7135132000

	MAIL ADDRESS:	
		STREET 1:		5999 SAN FELIPE 17TH FLOOR
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgardoc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-09-13</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000087347</issuerCik>
        <issuerName>SCHLUMBERGER LTD /NV/</issuerName>
        <issuerTradingSymbol>SLB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001230615</rptOwnerCik>
            <rptOwnerName>AYAT SIMON</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SCHLUMBERGER LIMITED</rptOwnerStreet1>
            <rptOwnerStreet2>5599 SAN FELIPE 17TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77056</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CHIEF FINANCIAL OFFICER</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-09-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>8792</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>35.658</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>44928</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-09-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7080</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>100</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>37848</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-09-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>12</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>100.01</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>37836</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (right to buy) w/ tandem Tx w/h right</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>35.658</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-09-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>8792</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>1999-04-15</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2008-04-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>8792</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Shares and option price were adjusted for the March 1, 2006 2 for 1 stock split.</footnote>
        <footnote id="F2">The options became exercisable in five equal annual installments on April 15, 1999.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>By: /s/Lynda M Quagliara Attorney-in-Fact  For: Simon Ayat</signatureName>
        <signatureDate>2007-09-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----