Schlumberger Ltd., the world’s largest oilfield services company, has joined its energy peers in committing to reach net-zero carbon emissions across the oil and gas value chain by 2050.

The company said Tuesday it has spent 18 months analyzing and working with experts to produce a decarbonization plan. The focus is to reduce emissions from direct, indirect and customer sources, i.e. Scope 1, 2 and 3 emissions.

“There is a new industry imperative to address climate change while meeting the demand for energy both today and in the long term, sustainably,” CEO Olivier Le Peuch said. “We have a 2050 net-zero carbon emissions ambition which I believe is unique in our industry due to our capabilities as a technology company and our culture grounded in science. This reinforces...