Schlumberger's Lift Solution Group Partners with FlexGen to Transform Oilfield Power

March 7, 2017

HOUSTON, Texas - March 7, 2017 - Schlumberger's Lift Solution Group today completed an exclusive agreement with FlexGenŽ to integrate FlexGen's Solid State Generator (SSG) technology into its existing line of artificial lift products and services. The SSG reduces power generation costs and improves production performance of artificial lift operations at oil and NGL production sites worldwide.

"Operators are always seeking to cut costs while increasing production, and electrical power can make up a third or more of total costs at production sites. The FlexGenŽ SSG, integrated with Schlumberger's full line of Lift Solutions can reduce those costs by 15-25% worldwide," said Trent Lee, Schlumberger's Vice President of Lift Solution.

The SSG incorporates sophisticated software controls, advanced power electronics, and , energy storage to improve lift operations, reduce energy costs, save on maintenance, improve reliability and reduce environmental impact.

"Schlumberger is the world's leading supplier of technology and information solutions to the international oil and gas industry and is advancing the entire industry with its cutting edge technologies and integrated solutions. We are thrilled to be a part of this industry-wide transformation," said FlexGen CEO Josh Prueher.

Schlumberger is the world"s leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry"s most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance. For more information, visit www.slb.com.

FlexGenŽ, Backed by Altira Group, General Electric, & Caterpillar, develops innovative power equipment for oil & gas, grid and industrial operations. Our products integrate sophisticated software, advanced energy storage, and power conversion technologies to improve cost, reliability, quality, safety, and sustainability of electrical power systems. Our team includes industry veterans from oil & gas, marine, and construction who lead customer engagements, product commissioning, and field support. Through our network of dealer partners, FlexGenŽ delivers services and products globally. For more information, visit www.flexgen.com.