Schlumberger Ltd. is seeing increased investment in oil and gas production globally to counter the disruption of oil and gas supplies. 

"A shift in focus is emerging in the energy landscape, exacerbating an already tightly supplied oil and gas market," Chief Executive Olivier Le Peuch said. 

"The dislocation of supply flows will result in increased global investment across geographies and the entire energy value chain to ensure the diversification and security of the world's energy supply," Mr. Le Peuch said. 

"The confluence of elevated commodity prices, demand-led activity growth, and energy security are resulting in one of the strongest outlooks for the energy services industry in recent times--reinforcing the market fundamentals for a stronger and longer multiyear upcycle--absent a global economic setback," he said.