| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 66 | 34% | 39% | 26% | 59% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 48 | 32% | 45% | 23% | 60% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 67 | 25% | 52% | 24% | 75% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 59 | 22% | 49% | 29% | 63% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our Company is part of larger Schlumberger Group of companies and based on its group policies and processes, there are a range of payment terms being followed depending on the suppliers and terms negotiated. In this reporting period, the most frequent payment terms are 30 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
80
Dispute resolution provision are contained in most of our supplier contracts. Our Accounts Payable business partner is required to resolve any dispute regarding invoice and payment status per their agreed Service Level Agreement (SLA) within 3 working days. If no resolution is provided by the partner within this period the supplier has the option to forward the issue to Accounts payable teams located in Procurement Service Centre.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
WesternGeco Limited is a UK-registered company based in Crawley, incorporated in 1978. Its official activities are listed as support services for petroleum and natural gas extraction. The company forms part of the SLB group (formerly Schlumberger), a global technology group serving the oil and gas industry, including seismic data acquisition and subsurface imaging services historically associated with the WesternGeco name. SLB describes itself as a global technology company driving energy innovation, working across oil and gas, decarbonisation, digital operations and new energy systems. As a UK entity within this group, WesternGeco Limited's own role relates to supporting these petroleum and gas extraction related services rather than the wider group's broader technology and energy transition activities.
Generated from the company's website and Companies House records. Sources: slb.com · slb.com