SLB OneSubsea and Subsea7 Awarded Integrated Contract for OKEA’s North Sea Bestla Project
07 Maio 2024 - 10:02AM
Business Wire
Contract award continues track record of SLB OneSubsea and
Subsea7’s Subsea Integration Alliance
Regulatory News:
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SLB OneSubsea and Subsea7 are providing
North Sea compliant equipment for the sustainable field development
of OKEA’s Bestla Project (Photo: Business Wire)
SLB (NYSE: SLB) has announced the award of a sizeable integrated
engineering, procurement, construction, and installation (EPCI)
contract by OKEA to its OneSubsea™ joint venture and Subsea7. The
contract will see the partnership develop the Bestla (formerly
known as Brasse) Project in the North Sea, offshore Norway,
specifically to accelerate the subsea tieback delivery to aging
platforms for profitable and sustainable marginal field
development.
The two-well project, with a 13-km tieback to the Brage
Platform, is the latest to be signed under the frame agreement
signed with OKEA in 2017 and furthers SLB OneSubsea and Subsea7’s
partnership under its Subsea Integration Alliance.
Early engagement and collaborative field development planning
combined with North Sea compliant configurable equipment will be
critical for enabling profitable and sustainable marginal field
development. SLB OneSubsea will deliver the subsea production
system which will include two subsea trees, a two-slot template, an
umbilical, and a control system. Subsea7 will install the subsea
production system and design and install the flowline systems,
spools, and protection measures, including rock installation.
“We enjoy a long, productive relationship with OKEA, building
upon the successful execution of the Hasselmus development, the
first project under our Alliance frame agreement, which was
delivered on time and on budget in October 2023,” said Mads
Hjelmeland, CEO of SLB OneSubsea. “Reaching this point has been
driven by outstanding collaboration across all partners. Our
ongoing partnership has enabled us to work together to simplify the
field layout and secure long lead items and vessel capacity, which
will bring the new wells online quickly and efficiently.”
Bestla was discovered in 2016 but today’s solution proposed by
Subsea Integration Alliance represents the first commercially
viable field development plan submitted for the Brasse development.
The solution is compliant with NCS2017+ for standardized subsea
production systems tailored for application in the Norwegian
Continental Shelf, and the Alliance will support the local economy
by commissioning fabrication and manufacturing from partners in
Norway.
The field is estimated to contain 24 million barrels of oil
equivalent, of which two-thirds is oil and the remaining one-third
is gas and natural gas liquids. First oil is targeted for Q4
2026.
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.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.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240507027968/en/
Media Moira Duff Director of External
Communications, SLB Tel: +1 (713) 375-3407 Email: media@slb.com
Investors James R McDonald SVP of Investor Relations &
Industry Affairs, SLB Joy V. Domingo Director of Investor
Relations, SLB Tel: +1 (713) 375-3535 Email:
investor-relations@slb.com
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