SLB (NYSE: SLB) and Subsea7 have announced a significant contract award from OKEA to develop the Bestla Project in the North Sea, offshore Norway.
The integrated engineering, procurement, construction, and installation (EPCI) contract, awarded to SLB’s OneSubsea joint venture and Subsea7, aims to accelerate subsea tieback delivery to aging platforms for profitable and sustainable marginal field development.
The Bestla Project involves the development of two wells with a 13-km tieback to the Brage Platform.
This project marks the latest collaboration under the frame agreement signed with OKEA in 2017, further strengthening the partnership between SLB OneSubsea and Subsea7 under its Subsea Integration Alliance.
SLB OneSubsea CEO Mads Hjelmeland expressed excitement about the project, stating: “Reaching this point has been driven by outstanding collaboration across all partners.
“Our ongoing partnership has enabled us to work together to simplify the field layout and secure long lead items and vessel capacity, which will bring the new wells online quickly and efficiently.”
The project will see SLB OneSubsea delivering the subsea production system, including two subsea trees, a two-slot template, an umbilical, and a control system.
Subsea7 will be responsible for installing the subsea production system and designing and installing the flowline systems, spools, and protection measures, including rock installation.
Bestla, formerly known as Brasse, was discovered in 2016. The solution proposed by the Subsea Integration Alliance represents the first commercially viable field development plan submitted for the Brasse development.
The project is compliant with NCS2017+ for standardised subsea production systems tailored for application in the Norwegian Continental Shelf, supporting the local economy by commissioning fabrication and manufacturing from partners in Norway.
The field is estimated to contain 24 million barrels of oil equivalent, with the first oil targeted for Q4 2026.
This project underscores SLB and Subsea7’s commitment to driving energy innovation and accelerating the energy transition towards a more sustainable future.
