SLB and Subsea Integration Alliance Awarded Contract for bp’s Cypre Project
22 November 2022 - 2:00PM
Business Wire
Award represents first fully integrated contract with bp and
first for Subsea Integration Alliance in Trinidad and
Tobago
SLB announced today an award to its OneSubsea® business and
Subsea Integration Alliance of a large contract by bp for its Cypre
gas project offshore Trinidad and Tobago. The contract scope covers
the engineering, procurement, construction, and installation (EPCI)
of the subsea production systems and subsea pipelines. The award
represents Subsea Integration Alliance’s first fully integrated
EPCI single contract with bp and the alliance’s first development
in the Caribbean nation.
The Subsea Integration Alliance team delivered the initial
front-end engineering and design phase for the project and will now
transition into the full EPCI phase. Offshore installation is
scheduled to commence in 2024.
OneSubsea, the subsea technologies, production, and processing
systems business of SLB, will deliver the subsea production
systems, which will include seven horizontal subsea tree systems,
subsea controls and connection systems, distribution and control
systems and aftermarket services. Subsea7, also part of Subsea
Integration Alliance, will deliver the subsea pipelines for the
project.
“By leveraging early engagement, digital solutions and
field-proven, standard equipment, we were able to quickly define
the development concept for bp’s Cypre project and place early
orders for key components, derisking the project timeline,” said
Don Sweet, director of SLB’s Subsea Production Systems
business.
“bp’s Cypre project is a prime example of our ability to harness
the key strengths of Subsea Integration Alliance: Subsea7 with its
expertise in executing complex EPCI projects and OneSubsea’s
fast-track delivery of subsea production systems,” said Subsea
Integration Alliance Chief Executive Officer Olivier Blaringhem.
“Combined, we are delivering a refined solution that enables early
first gas.”
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 Subsea Integration Alliance
Subsea Integration Alliance is a non-incorporated strategic
global alliance between Subsea7 and OneSubsea®, the subsea
technologies, production, and processing business of SLB, bringing
together field development planning, project delivery and total
lifecycle solutions under an extensive technology and services
portfolio. As one team, Subsea Integration Alliance amplifies
subsea performance by helping customers to select, design, deliver,
and operate the smartest subsea projects. This eliminates costly
revisions, avoids delays, and reduces risk across the life of
field.
For more information, visit
www.subseaintegrationalliance.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the federal securities laws—that is, any statements
that are not historical facts. Such statements often contain words
such as “expect,” “may,” “can,” “believe,” “goal,” “target,”
“should,” “could,” “would,” “will” “likely,” and other similar
words. These statements are subject to risks and uncertainties,
including, but not limited to, the inability to recognize intended
benefits from SLB, Subsea 7 and Subsea Integration Alliance
strategies, initiatives or partnerships; and other risks and
uncertainties, including those 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 any such
development changes), or should underlying assumptions prove
incorrect, actual results or outcomes may vary materially from
those reflected in the forward-looking statements. The
forward-looking statements speak only as of the date of this press
release, and SLB, Subsea 7 and Subsea Integration Alliance disclaim
any intention or obligation to update publicly or revise such
statements, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20221121005832/en/
Media Moira Duff – Director of External Communication
Tel: +1 (713) 375-3407 Email: media@slb.com
Investors Ndubuisi Maduemezia – Vice President of
Investor Relations Joy V. Domingo – Director of Investor Relations
Tel:+1 (713) 375-3535 Email: investor-relations@slb.com
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