SLB (NYSE: SLB) has secured a major contract from bp for a subsea boosting system in the greenfield development of the Tiber project, a deepwater offshore site in the U.S. Gulf of Mexico.
The deal, awarded to SLB’s OneSubsea joint venture, follows closely on the heels of a similar contract for bp’s Kaskida project, also located in the Gulf of Mexico.
Both projects aim to tap prolific Paleogene-era hydrocarbon reserves by deploying supplier-led, standardised high-pressure subsea pump systems that promise significant cost and time efficiencies.
The engineering, procurement, and construction (EPC) contract for the Tiber project marks a key advancement in subsea boosting technology application for bp.
Subsea boosting systems enhance oil and gas recovery by increasing flow rates from reservoirs to surface processing facilities.
These systems are particularly critical in deepwater settings where natural reservoir pressure is insufficient to maintain efficient production.
The technology also helps operators optimise topside platform space and reduce power demands by situating pumping equipment on the seabed closer to the reservoir.
“We look forward to helping bp realise even more value from their Paleogene developments,” said Mads Hjelmeland, CEO at SLB OneSubsea.
“We are seeing more and more operators adopt subsea boosting strategies that free up topside space and reduce power requirements.”
This trend reflects the growing importance of subsea boosting systems in offshore oil and gas production to accelerate reservoir recovery, increase flow assurance, and lower environmental impact by enhancing operational efficiency.
The Kaskida project contract was a landmark EPC agreement between SLB OneSubsea and bp, involving a state-of-the-art high-pressure subsea pumping system complete with integrated power and control umbilicals.
This system is designed to withstand pressures up to 20,000 psi, meeting rigorous specifications necessary for deepwater ultra-high-pressure reservoirs.
The Tiber contract leverages this proven standardised solution, enabling quicker deployment and reduced engineering timeframes due to supplier-led system standardisation.
Subsea boosting systems such as those deployed by SLB OneSubsea provide multifaceted benefits, including extending field life, accelerating production rates by lowering wellhead pressures, and improving flow assurance by mitigating issues like hydrate and wax buildup.
They also support bp’s strategic goals of maximising hydrocarbon recovery from complex Paleogene reservoirs while optimising platform infrastructure and power consumption.
These contracts highlight SLB OneSubsea’s position as a preferred partner for advanced subsea production technologies in deepwater environments, reinforcing its role in delivering innovative solutions that drive efficiency, sustainability, and value in offshore projects.
