SLB, Aker Solutions and Subsea7 Announce Closing of OneSubsea Joint Venture
02 Oktober 2023 - 10:55AM
Business Wire
OneSubsea’s leading technology portfolio will drive improved
subsea asset performance while increasing energy efficiency and
reducing CO2 emissions
SLB (NYSE: SLB), Aker Solutions and Subsea7 announced today the
final closing of their previously announced joint venture. The new
business, which will adopt the OneSubsea name, will drive
innovation and efficiency in subsea production by helping customers
unlock reserves and reduce cycle time.
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the full release here:
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OneSubsea now comprises SLB’s and Aker
Solutions’ subsea businesses, which include an extensive
complementary subsea production and processing technology
portfolio. (Photo: Business Wire)
OneSubsea now comprises SLB’s and Aker Solutions’ subsea
businesses, which include an extensive complementary subsea
production and processing technology portfolio, world-class
manufacturing scale and capacity, access to industry-leading
reservoir and digital domain expertise, unique pore-to-process
integration capabilities and strengthened R&D capabilities.
“The offshore market is demonstrating a sustained resurgence as
operators across the world look to accelerate development cycle
times and increase the productivity of their offshore assets,” said
SLB Chief Executive Officer Olivier Le Peuch. “With its combined
technology portfolio that leverages digital innovation, OneSubsea
is ideally placed to support customers in their drive to improve
asset performance while increasing energy efficiency and reducing
CO2 emissions.”
OneSubsea’s field-proven subsea processing capabilities are seen
by its customers as unparalleled in enhancing reservoir recovery
and enabling long tie backs. Its unique compression technology
portfolio has proven its potential to reduce the structure and
capital cost of developing new energy reserves, while subsea
projects have shown to be inherently more carbon efficient than
topside solutions.
“OneSubsea’s extensive technology portfolio and engineering
expertise enable us to address future market trends and needs at a
unique scale. In doing so, we aim to fulfil our purpose of
expanding the frontiers of subsea to drive a sustainable energy
future,” said Mads Hjelmeland, newly appointed Chief Executive
Officer of OneSubsea. “We will accelerate innovation and contribute
to the ambition of our customers to optimize their production and
reduce emissions in their subsea operations.”
OneSubsea will be headquartered in Oslo, Norway, and Houston,
Texas, with 11,000 people working in all key operating regions
around the world. SLB holds a 70% equity stake in the joint
venture, with Aker Solutions and Subsea7 holding 20% and 10%
respectively.
More information on the transaction is available on SLB’s
investor relations website, which can be accessed at
https://investorcenter.slb.com/.
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 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
11,000 people in more than 15 countries. Find out more at
www.akersolutions.com.
About Subsea7
Subsea7 is a global leader in the delivery of offshore projects
and services for the energy industry. Subsea7 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230929052165/en/
Media Moira Duff – Director of External Communications
SLB Tel: +1 (713) 375-3407 media@slb.com
Hallvard Norum – Vice President Media & Channels, Aker
Solutions Tel: +47 913 80 820 hallvard.norum@akersolutions.com
Julie Taylor – Head of Group Communications Subsea7 Tel: +44
1224 526270 communications@subsea7.com
Investors James R. McDonald – Vice President of Investor
Relations Joy V. Domingo – Director of Investor Relations SLB Tel:
+1 (713) 375-3535 investor-relations@slb.com
Preben Ørbeck– Senior Vice President Investor Relations, Aker
Solutions Tel: +47 470 10 611 preben.orbeck@akersolutions.com
Katherine Tonks – Investor Relations Director Subsea7 Tel: +44
20 8210 5568 ir@subsea7.com
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