Complementary geographic coverage, technology
and engineering capabilities will deliver leading performance and
integration in a growing offshore market
Regulatory News:
Schlumberger, Aker Solutions and Subsea 7 today announced an
agreement to form a joint venture to drive innovation and
efficiency in subsea production by helping customers unlock
reserves and reduce cycle time. The agreement will bring together a
portfolio of innovative technologies such as subsea gas
compression, all-electric subsea production systems and other
electrification capabilities that help customers meet their
decarbonization goals.
The proposed joint venture will combine Schlumberger’s and Aker
Solutions’ subsea businesses, which include deep reservoir domain
and engineering design expertise, an extensive field-proven subsea
production and processing technology portfolio, world-class
manufacturing scale and capabilities, and a comprehensive suite of
life-of-field solutions for customers all over the world. Subsea 7
will be an equity partner in the new joint venture.
“As investment in the offshore market—particularly in
deepwater—continues to increase, our customers will benefit from
enhanced services that leverage digital and technological
innovation to drive improved subsea asset performance while
increasing energy efficiency and reducing CO2 emissions,” said
Schlumberger Chief Executive Officer Olivier Le Peuch. “We look
forward to collaborating with both Aker Solutions and our subsea
integration partner Subsea 7 on this new venture.”
“Aker Solutions, Schlumberger and Subsea 7 are complementary
businesses, both in terms of products and services, as well as
customers and geographical presence. Furthermore, Schlumberger
shares our commitment to innovation, such as deploying digital
solutions and decarbonization technologies,” said Øyvind Eriksen,
President and Chief Executive Officer of Aker ASA.
Upon closing of the proposed transaction, the existing Subsea
Integration Alliance (SIA) between Schlumberger and Subsea 7, will
be amended so that the new joint venture will assume Schlumberger’s
role in the Alliance, which will be renewed for a ten-year
term.
“We are excited to build on our highly successful alliance with
Schlumberger and partnership with Aker Solutions. This new joint
venture is a critical step as we collaborate on integrated subsea
projects that drive maximum value for our customers,” said Subsea 7
Chief Executive Officer John Evans.
In addition to contributing its subsea business to the joint
venture, at closing Schlumberger will issue to Aker Solutions
shares of Schlumberger common stock valued at USD 306.5 million in
a private placement. Concurrently, Subsea 7 will purchase its 10%
interest in exchange for USD 306.5 million in cash to Aker
Solutions. The joint venture also will issue a promissory note to
Aker Solutions for USD 87.5 million. At closing of the joint
venture, Schlumberger will own 70%, with Aker Solutions owning 20%
and Subsea 7 owning 10%. The transaction is subject to regulatory
approvals and other customary closing conditions and is expected to
close in the second half of 2023.
More information on the proposed transaction is available on
Schlumberger’s investor relations website, which can be accessed at
https://investorcenter.slb.com/.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners
with customers to access energy. Our people, representing over 160
nationalities, are providing leading digital solutions and
deploying innovative technologies to enable performance and
sustainability for the global energy industry. With expertise in
more than 120 countries, Schlumberger collaborates to create
technology that unlocks access to energy for the benefit of
all.
Find out more at www.slb.com.
About Aker Solutions
Aker Solutions delivers integrated solutions, products and
services to the global energy industry. We enable low-carbon oil
and gas production and develop renewable solutions to meet future
energy needs. By combining innovative digital solutions and
predictable project execution we accelerate the transition to
sustainable energy production. Aker Solutions employs approximately
14,000 people in more than 20 countries.
Find out more at www.akersolutions.com.
About Subsea 7
Subsea 7 is a global leader in the delivery of offshore projects
and services for the energy industry. Subsea 7 makes offshore
energy transition possible through the continuous evolution of
lower-carbon oil and gas and by enabling the growth of renewables
and emerging energy.
Find out more at www.subsea7.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The opinions, forecasts and projections regarding the
expected benefits of the proposed transaction; the expected timing
of the completion of the transaction; the parties’ ability to
complete the transaction considering the various regulatory
approvals and other closing conditions; future opportunities for
the joint venture and its products and services; and any other
statements regarding the parties’ or the joint venture’s future
expectations, beliefs, plans, objectives, financial conditions,
assumptions or future events or performance, are forward-looking
statements within the meaning of the federal securities laws. These
statements are subject to, among other things, satisfaction of the
closing conditions to the proposed transaction, the risk that the
proposed transaction does not occur, negative effects from the
pendency of the proposed transaction, the ability to realize
expected benefits from the proposed transaction, the timing to
consummate the proposed transaction, and (as to Schlumberger) other
risk factors contained in Schlumberger’s most recent Forms 10-K and
other filings with the SEC available at the SEC’s Internet site
(http://www.sec.gov). Actual results may differ materially from
those expected, estimated or projected. Forward-looking statements
speak only as of the date they are made, and the parties undertake
no obligation to publicly update or revise any of them in light of
new information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220829005759/en/
Media Josh Byerly – Vice President of Communications,
Schlumberger Moira Duff – Director of External Communication,
Schlumberger Tel: +1 (713) 375-3407 media@slb.com
Torbjorn Andersen – Vice President of External Communications,
Aker Solutions Tel: +47 928 85 542 Julie Taylor – Head of Group
Communications, Subsea 7 Tel: +44 1224 526270
julie.taylor@subsea7.com
Investors Ndubuisi Maduemezia – Vice President of
Investor Relations, Schlumberger Joy V. Domingo – Director of
Investor Relations, Schlumberger Tel: +1 (713) 375-3535
investor-relations@slb.com
Fredrik Berge – Vice President of Investor Relations, Aker
Solutions Tel: +47 450 32 090 fredrik.berge@akersolutions.com
Katherine Tonks – Investor Relations Director, Subsea 7 Tel: +44
20 8210 5568 katherine.tonks@subsea7.com
Schlumberger (NYSE:SLB)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Schlumberger (NYSE:SLB)
Historical Stock Chart
Von Jul 2023 bis Jul 2024