UANI

"The world's largest oil-services company has quietly promised the US State Department that it will pull out of Iran when its current contracts are complete, a spokesman for Schlumberger Ltd. has confirmed, marking what could be a major victory in the US struggle to cut off Iran's access to funds for its nuclear program. 'If it is true, it's huge,' said Richard Modesette, a former Commerce Department special agent. But internal company documents obtained by The Boston Globe show that Schlumberger - which is under investigation for possible sanctions violations - has signed contracts worth hundreds of millions of dollars that it intends to complete before it exits. Those contracts will keep the company, believed to be the last Western oil-services firm in Iran, working in the oil-rich country until least 2013, a delay that has angered some US officials....But if Iran agrees to curb its nuclear program, sanctions could ease by the time Schlumberger’s last contract expires....In that case, the firm could just keep on doing business." (Boston Globe, "Oil firm says it will withdraw from Iran," 11/12/10)

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"The oil exploration giant has long been active in Iran and continues to provide drilling and exploration services to Iran's oil and gas sector, according to filings with the Securities and Exchange Commission. "We work in more than 80 countries around the world, including Iran, and we abide by the rules in those countries," said a company spokesman, Stephen Whittaker, adding: "We don't take a position on what the country does or doesn't do. It is what it is."" 

From 2000-2009, the company was a recipient of $30.7 million US federal funds.  Their investments in Iran are currently active, however there are no plans for new investments.  (The New York Times, "Profiting from Iran, and the US." 3/6/2010)

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Schulmberger lists a regional "Iran GeoMarket" headquarters office in Tehran (Company website, 7/13/09)

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"But the device - developed by the oil-services firm Schlumberger in labs in Connecticut and Texas - was brought to Iran through a legal loophole that allows multinational corporations to use foreign subsidiaries to sidestep US sanctions, according to a Globe investigation. Schlumberger acknowledges that its US-developed tool has been used in Iran, and a spokesman said the company followed all applicable laws and regulations." (The Boston Globe, "Oil firm sidesteps sanctions on Iran," 12/7/08)

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"In the early 1940 s, Texaco paid for its own dealings with hostile regimes such as Nazi Germany and Imperial Japan. And there are similarities with Schlumbergers business in Sudan, Iran and Venezuela, Rewcastle says. Schlumberger is the only major E&P company left in Iran and Sudan, he says. But its operations are well-diversified throughout the world. Its business sprawls over regions where drilling demand is surging, Gengaro says." (Investors Business Daily, "Schlumberger Makes Itself The Go-To Oil Services Firm," 8/1/07)

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Listed by U.S. Government as doing business in Iran. (U.S. Securities and Exchange Commission, List of Companies Doing Business With State Sponsors Of Terror, Removed from the internet in July of 2007)