(Source: SLB)
SLB, Aker Solutions and Subsea7 announced Oct. 2 the final closing of the companies’ previously announced joint venture, OneSubsea.
OneSubsea combines SLB and Aker Solutions’ subsea businesses into one subsea production and processing technology portfolio. OneSubsea will have access to reservoir and digital domain expertise, pore-to-process integration capabilities, an extensive and strengthened R&D capabilities.
“OneSubsea’s extensive technology portfolio and engineering expertise enable us to address future market trends and needs at a unique scale,” Mads Hjelmeland, newly appointed CEO of OneSubsea, said in a press release. “We will accelerate innovation and contribute to the ambition of our customers to optimize their production and reduce emissions in their subsea operations.”
OneSubsea’s compression technology portfolio hopes to reduce the structure and capital cost of new energy reserve development. The company’s subsea production and processing technology portfolio enables long tiebacks and EOR capabilities.
OneSubsea will have headquarters in both Oslo, Norway, and Houston, Texas. SLB holds a 70% equity stake in the joint venture. Aker Solutions holds a 20% stake, while Subsea7 holds the remaining 10%.
Recommended Reading
Harold Hamm: ‘Drill, Baby, Drill’ Faces Geology Barriers, Even Under Trump
2024-11-18 - Harold Hamm, Continental Resources founder and major Trump donor, says the U.S. faces real barriers to expanding production growth—even with Republicans controlling D.C.—as major shale basins mature.
Back to the Future: US Shale is Growing Up
2025-01-07 - The Patch’s maturity will be tested in 2025 amid ongoing consolidation and geopolitical dissonance.
Hirs: Investing for 2025—Growth by Acquisition
2025-01-29 - Fundamentals will push against increased production and a buyers’ market will rule.
Aethon Dishes on Western Haynesville Costs as Gas Output Roars On
2025-01-22 - Aethon Energy’s western Haynesville gas wells produced nearly 34 Bcf in the first 11 months of 2024, according to the latest Texas Railroad Commission data.
Exxon: Longer Laterals, Cube Well Design Lowering Permian Costs
2024-12-11 - Exxon Mobil is boosting spending to grow global oil and gas production by 18% by 2030. U.S. rival Chevron Corp. recently said it’s cutting spending in favor of free cash flow.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.