SCHLUMBERGER OILFIELD UK LIMITED
Company number: 04157867
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
30 July 2025
Approved by:
Sama Nekakhtar
Payment statistics
Average time taken to pay invoices: 57 days
Total value paid:
- within 30 days: £165,229,248 (39%)
- in 31 to 60 days: £172,695,046 (40%)
- in 61 days or more: £88,994,855 (21%)
Invoices paid:
- within 30 days: 18%
- in 31 to 60 days: 37%
- in 61 days or more: 45%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £46,257,599
- payments due in the reporting period which have not been paid within the agreed period: 19%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
SLB`s standard default payment terms for all suppliers is 90 days from the Receipt of the Supplier`s invoice. Payment is released to supplier as per invoice Due Date provided that all invoice approval conditions are met. These terms are explicitly stated and defined in the contract templates and Terms and Conditions used with suppliers.
Were there any changes to the standard payment terms in the reporting period?
The standard payment terms were increased from 70 to 90 days
Were suppliers notified or consulted about these changes before they were made?
Impacted suppliers were notified
Maximum contractual payment period agreed
180 days
SLB has partnered with Citibank, using SLB’s credit rating, to offer strategic suppliers with a means to collect cash earlier than the standard payment terms. Once 3-way match (or approval for Non-PO invoices) is complete, suppliers have the flexibility to cash in their receivables. There is no cost to enroll. A marginal fee is deducted to supplier’s invoice payment if supplier opts to get paid earlier than the invoice due date at a SLB exclusive preferential rate. In exchange of the accelerated payment through the SLB provided credit line, suppliers are required to accept an extended contractual payment term, above the standard 90 days, with a recommended minimum 90 days and up to 180 days.
Any other information about payment terms
SLB acknowledges and accepts that there are Suppliers (small locally based companies) where the default payment terms would cause considerable financial distress to their continued operation and business survival. Therefore, the payment terms agreed for these suppliers would be in the region of 30 /45 days with the decision formalized through internal review and exemption process.
Dispute resolution process
Dedicated Accounts Payable service team plays a vital role in managing suppliers and internal escalations through ticketing system, ensuring the timely and high-quality resolution of issues.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
Yes
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No