Schlumberger, the largest oil field service company in the world, is planning a major overhaul of its business units that will now be split into four new divisions that will operate in five geographic territories.

Citing future challenges in the energy industry, the Houston and Paris-based company reported Thursday that the companywide restructuring would take places over the next few months.

“The restructuring is aligned with the company’s performance strategy, and our aspiration to become the performance partner of choice for our customers,” the company said in a statement.

Service Sector: Schlumberger’s $7.4B loss sets stage for ‘most uncertain’ future

Under the company’s plan, Schlumberger plans to dissolve its four existing businesss units in favor of four new ones: digital & integration, reservoir performance, well construction and production system.


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