Over the past months, Schlumberger has taken a bold step in implementing a major restructure of the company to prepare for the future industry landscape and to accelerate the realization of our corporate strategy. While the Oil & Gas crisis coupled with the Covid-19 pandemic have forced us to accelerate the implementation of this new organization, the fundamental rationale for this new structure runs deeper than this.
A key focus is to ensure that our customers stand at the centre of everything we do and leveraging our digital leadership capabilities to become their performance partner of choice. Equally important is to ensure that we remain the employer of choice for existing and future employees offering them diverse careers, fantastic training and development opportunities while rallying them under a meaningful purpose.
As President for the newly created Asia Basin, the choice for me to set up our Headquarters in Kuala Lumpur was obvious. Malaysia has a central position in the region and hosts key activities for the company ranging from Shared Services Hubs providing support to Europe, Africa, Middle East, and Asia, to Manufacturing units, Operations, and Headquarters for our East Asia Operations. We employ over 2,700 employees in the country. The proximity with our Petronas client was an undeniable additional advantage to choosing Kuala Lumpur. And finally, Malaysia continues to be an important pool of talents to onboard for our success journey which started 85 years ago.
With our long-standing relationship with the top universities in Malaysia, we continue to build strong foundations for the success of the industry in the present and in the future. That success starts with investing in the development of the right competencies needed for our industry through fit for purpose training curriculums, through the best recruiting and onboarding programs and finally robust people development programs to make us the best performance partner to our clients.
The Oil & Gas industry continues to have a bright future while it requires us to be agile and develop the new technologies that will further contribute to lowering our carbon footprint. Schlumberger, as a technology company with a forward-thinking mindset, will continue to be ahead, both in its technology advancement as well as its performance when it comes to sustainable hydrocarbon recovery.
I strongly believe that energy powers society's progress, and our innovations accelerate this progress.
Few parts of modern life, if any, are untouched by the raw materials of oil and gas. And it all starts with competent and talented teams working together to drill wells through subterranean environments they can never actually see. It takes a combination of engineering disciplines, along with computer science, geophysics, and metallurgy. Then there are astounding efforts to keep older wells pumping despite time’s inevitable drain on production. From a well’s cradle to grave, and everywhere in between—that is where the people of Schlumberger come in.
While the oil and gas industry played an essential role over the past 80 years in fuelling the world’s energy needs thus making our lives easier and longer, energy transition is now a necessity and we have a key role to play in reducing the effects of climate change.
We operate under strict environmental standards and we have environmental objectives and programs that align with the United Nations Sustainable Development Goals. In December of 2019, we became the first company in upstream E&P services to commit to science-based targets in emissions reduction. The target will align Schlumberger with the goals of the Paris Agreement to reduce climate change.
But more importantly as technology company our objective is to help our customers improve their environmental performance. We have over 100 technologies that can help do that. For example, when you drill you need to use a fluid to help eliminate rock debris and we developed a solution based on a paraffin compound that is naturally biodegradable.
The curiosity of our workforce drives us to better understand what our customers do, how they do it, and what they need to help overcome their challenges. We are developing methods and processes using ever-less-invasive means minimizing environmental footprints while maximizing positive influence on the communities in which we live and work.
It is truly an honour to see that Schlumberger has ranked in the Top 10 Most Preferred Employers in the latest Graduan survey. It is our ambition to sustain this recognition and ensure we continue to fuel the industry with the best talents.
I look forward to seeing all Malaysian talents and beyond succeed in their professional endeavours with Schlumberger and with others.