M-I SWACO unveils Smart* RDF and breaker technologies

HOUSTON (May 5, 2008) - M-I SWACO has introduced its portfolio of Smart* reservoir drill-in fluid systems and associated breaker technologies that provide finesse to the drilling and completion operation by allowing greater control over what occurs downhole.

While meeting high performance requirements during drilling, the fluids and breaker systems also ensure maximum control throughout the completion operation. This is accomplished either through uniform destruction of the filter cake or by permitting oil to readily flow through the intact filter cake without the need for aggressive and potentially damaging chemicals.

Smart RDF Technology successfully addresses the myriad of conditions facing drilling and completion engineers, which traditionally complicated the engineering of an effective RDF system/breaker combination. The fluid must not only maximize drilling efficiency by generating a gauge hole with minimal filtrate invasion, but must facilitate insertion of the completion equipment in the well as a prelude to performing the completion operation.

The Smart RDF Technology has been employed successfully on a number of projects worldwide with actual production and injectivity, in some cases, double that of anticipated volumes.

M-I SWACO, which is based in Houston, TX and jointly owned 60% by Smith International, Inc. (NYSE, PSE:Sii) and 40% by Schlumberger Limited (NYSE:SLB), is a leading provider of a wide range of products and engineering services designed to deliver Drilling Solutions, Environmental Solutions, Wellbore Productivity and Production Technologies. The company is strategically located in more than 70 countries.

*mark of M-I L.L.C.