SLB LIMITED/NV — Director's Dealing 2004

Jul 23, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SCHLUMBERGER LTD /NV/ (SLB)
CIK: 0000087347
Period of Report: 2004-07-21

Reporting Person: PAI SATISH (VICE PRESIDENT)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-07-21	Employee Stock Option (right to buy) w/ tandem Tx w/h right	$65.235	A	30000	Acquired	2014-07-21	Common Stock (30000)	Direct

Footnotes

F1: This option becomes exercisable in four equal annual installments beginning July 21, 2005