Schlumberger Expands Subsea Partnership with Vår Energi: Details

Schlumberger N.V. SLB shares are trading relatively flat in the premarket session on Wednesday after jumping over 2% yesterday.

Yesterday, Schlumberger’s OneSubsea joint venture entered an agreement with Vår Energi to deliver a subsea production systems work scope, aimed at supporting multiple upcoming oil and gas developments on the Norwegian Continental Shelf.

According to Benzinga Pro, SLB stock has lost over 15% in the past year.

This collaboration, which builds on an existing strategic subsea partnership, will fast-track subsea developments by leveraging standardized, configurable subsea equipment.

The work begins immediately with the delivery of two key equipment packages that will streamline future project timelines.

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The first package consists of a full SPS system, including four vertical subsea trees, wellheads, templates, manifolds, and umbilicals, designed for quick deployment across any of Vår Energi’s fields.

The second package focuses on the engineering and procurement of a similar SPS system, which will allow for reduced lead times in future developments.

Investors can gain exposure to the stock via iShares U.S. Oil Equipment & Services ETF IEZ.

Mads Hjelmeland, CEO of SLB OneSubsea, emphasized that this approach simplifies processes and accelerates resource unlocking, demonstrating the strong commitment between the two companies to configurable solutions.

“This is a significant step forward for our partnership, and we are grateful for our open, collaborative relationship with Vår that now leads to such new ways of creating mutual value for both companies,” Hjelmeland said.

Price Action: SLB stock is down 0.44% at $41.04 premarket at the last check Wednesday.

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