SLB OneSubsea and Subsea7 awarded integrated EPCI contract for bp's North Sea Murlach development

Collaboration continues track record of SLB OneSubsea and Subsea7's Subsea Integration Alliance

HOUSTON, July 29, 2024-SLB (NYSE: SLB) today announced the award of an integrated engineering, procurement, construction and installation (EPCI) contract by bp to its OneSubsea™ joint venture and Subsea7 for the Murlach development (formerly Skua field), 240 kilometers east of Aberdeen in the UK North Sea.

The Murlach project will include the first-ever implementation of SLB OneSubsea standard, configurable vertical monobore tree systems in the UK North Sea, which will be deployed by Subsea7 via vessel to reduce rig days.

Subsea Integration Alliance worked with bp to develop a solution leveraging SLB OneSubsea's latest generation of field-proven standard equipment, which is optimized for speed of delivery and installation. SLB OneSubsea will deliver two vertical monobore trees, a two-slot manifold, and associated topside controls. Subsea7 will install 8 kilometers of rigid flowline and two flexible jumpers, including a new gas lift flowline tied back to the Eastern Trough Area Project (ETAP) facility. Fabrication of the pipelines will take place at Subsea7's spoolbase at Vigra, Norway, and offshore operations are expected to be executed in 2025.

Olivier Blaringhem, Chief Executive Officer, Subsea Integration Alliance, said: "Subsea Integration Alliance now has three fully integrated EPCI projects with bp, and this UK project is an important milestone as it expands our EPCI collaboration into the UK North Sea market."

Mads Hjelmeland, CEO of SLB OneSubsea, said: "Early engagement and close collaboration with bp through our Subsea Integration Alliance are what have made it possible to develop a configurable solution for the Murlach field."

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About SLB OneSubsea

SLB OneSubsea is driving the new subsea era that leverages digital and technology innovation to optimize our customers' oil and gas production, decarbonize subsea operations, and unlock the large potential of subsea solutions to accelerate the energy transition. OneSubsea is a joint venture backed by SLB, Aker Solutions, and Subsea7 headquartered in Oslo and Houston, with 10,000 employees across the world. Find out more at onesubsea.slb.com.

About Subsea Integration Alliance

Subsea Integration Alliance is a strategic global alliance between SLB OneSubsea and Subsea7, bringing together field development planning, project delivery, EPCI contracting models and total life cycle solutions under the world's leading subsea technology and services portfolio. Find out more at subseaintegrationalliance.com.

Media

Moira Duff - Director of External Communications
SLB
Tel: +1 (713) 375-3407
Email: [email protected]

Investors

James R. McDonald - SVP of Investor Relations and Industry Affairs
Joy V. Domingo - Director of Investor Relations
SLB
Tel: +1 (713) 375-3535
Email: [email protected]

Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws - that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "can," "estimate," "intend," "anticipate," "will," "potential," "projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB's new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB's strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

Public link

Please use the above public link if you want to share this noodl on another website.