Edgar Filing: Shivram Krishna

Ownership Submission

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â Shivram Krishna

2. Date of Event Requiring Statement (Month/Day/Year)
02/01/2011

3. Issuer Name and Ticker or Trading Symbol
SCHLUMBERGER LTD /NV/ [SLB]

(Last)

(First)

(Middle)

5599 SAN FELIPE, 17TH FLOOR

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)
Vice President and Treasurer

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

HOUSTON,Â TXÂ 77056

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

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	18,499	D	Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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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 of Derivative Security: 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		6. Nature of Indirect Beneficial Ownership (Instr. 5)
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/18/2007⁽¹⁾	01/18/2016	Common Stock, $0.01 par value per share	20,000	$ 54.235	D	Â
NQ Stock Option (right to buy) w/ tandem Tax w/h right	07/19/2007⁽²⁾	07/19/2016	Common Stock, $0.01 par value per share	4,000	$ 63.545	D	Â
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/17/2009⁽³⁾	01/17/2018	Common Stock, $0.01 par value per share	10,000	$ 84.93	D	Â
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/22/2010⁽⁴⁾	01/22/2019	Common Stock, $0.01 par value per share	16,000	$ 37.845	D	Â
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/21/2011⁽⁵⁾	01/21/2020	Common Stock, $0.01 par value per share	2,705	$ 68.505	D	Â
Incentive Stock Option (right to buy)	01/21/2011⁽⁶⁾	01/21/2020	Common Stock, $0.01 par value per share	7,295	$ 68.505	D	Â
NQ Stock Option (right to buy) w/ tandem Tax w/h right	01/20/2012⁽⁷⁾	01/20/2021	Common Stock, $0.01 par value per share	38,808	$ 83.885	D	Â
Incentive Stock Option (right to buy)	01/20/2012⁽⁸⁾	01/20/2021	Common Stock, $0.01 par value per share	1,192	$ 83.885	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Shivram Krishna 5599 SAN FELIPE, 17TH FLOOR HOUSTON,Â TXÂ 77056	Â	Â	Â Vice President and Treasurer	Â

Signatures

/s/Lynda Quagliara Attorney-in-Fact For: Krishna Shivram		02/11/2011
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	This option becomes exercisable in four equal annual installments beginning January 18, 2007.
(2)	This option becomes exercisable in five equal annual installments beginning July 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 22, 2010.
(5)	This option becomes exercisable in five equal annual installments beginning January 21, 2011.
(6)	This option becomes exercisable in five equal annual installments beginning January 21, 2011.
(7)	This option becomes exercisable in five equal annual installments beginning January 20, 2012.
(8)	This option becomes exercisable in five equal annual installments beginning January 20, 2012.

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