(Corrects "global" to "international" in headline; Adds dropped word "internationally" in paragraph 1. The company's international market does not include North America)

March 23 (Reuters) - Schlumberger Ltd, the world's No.1 oilfield services provider, said it expects the oil and gas industry's spending internationally on exploration and production to drop by 10-15 percent in 2015.

A 50 percent drop in global oil prices since June has prompted oil and gas producers to cut back spending and shore up dwindling cash reserves.

(Reporting by Swetha Gopinath in Bengaluru; Editing by Saumyadeb Chakrabarty)