The global energy sector is benefiting today from long-cycle developments, SLB CEO Olivier Le Peuch said Friday, lifted by more carbon capture expansions, offshore exploration and the realization that “natural gas is a critical source for the energy transition.”

During a third quarter conference call, Le Peuch offered his insight into results for the world’s No. 1 oilfield services company, which he said “is continuing to seize this multiyear growth cycle.”

Overall market fundamentals “remain very, very compelling for our core business,” he said. “Performance is being driven by the diversity of our portfolio,” including new technologies and integration.

“Looking ahead, we believe the market fundamentals remain very compelling for our business…The oil and...