Oilfield service giant Schlumberger is moving one of its top executives to lead a newly created division for "new energy" initiatives.
In a Friday morning filing with the Securities and Exchange Commission, Schlumberger reported that Executive Vice President of Technology Ashok Belani switched roles Feb. 11 to become executive vice president of Schlumberger New Energy.
Schlumberger says its New Energy division will deploy its own set of technologies and practices to reduce its carbon footprint in exploration and production operations, and develop growth opportunities in emerging markets with "carbon-neutral technologies."
Schlumberger Senior Vice President Demosthenis Pafitis is stepping into Belani's previous role as the company's new chief technology officer. Headquartered in Paris but with principal offices in Houston, Schlumberger is the largest oilfield service company in the world, with 105,000 employees around the globe.
Belani's new role and the company's new division come as the oil and natural gas industry is trying to curb emissions blamed on climate change and adapt to the mass adoption of renewable energy sources such as wind and solar.
Earlier this week, British oil major BP said it would aim to be carbon neutral by 2050. Canadian pipeline operator Enbridge now owns and operates offshore wind farms in the North Sea.
The energy transition is also bringing changes to executive teams. In a November, Houston oilfield service company Baker Hughes appointed Allyson Book to the newly created role of vice president of energy transition.