SLB has unveiled a new long-term strategic collaboration agreement between Equinor ASA and the Subsea Integration Alliance, consisting of OneSubsea and Subsea7.
The agreement marks a significant milestone in advancing exploratory work on two key projects: the Wisting field offshore Norway and Bay Du Nord, located off Newfoundland and Labrador, Canada.
It sets the stage for early information sharing, technology innovation, and other collaborative benefits essential for unlocking more subsea projects and ensuring their economic viability.
Trond Bokn, Senior Vice President for Project Development at Equinor, stated: “Selecting the supplier at this early stage is a new way of approaching project development for us and a vote of confidence to Subsea Integration Alliance.
“We look forward to developing concepts together, with full visibility on profitability and joint efforts to make these challenging projects sanctionable.”
OneSubsea CEO Mads Hjelmeland, emphasised the significance of the agreement, stating: “[This] agreement underlines the trusted relationship that we have built over many years and enables us to take our collaboration further by sharing and aligning on goals and values, improving performance and learnings across projects, and unlocking new opportunities.”
Subsea7 CEO John Evans added: “We look forward to extending and deepening this relationship as we work together to unlock the value in Wisting and Bay du Nord.”
The agreement allows for immediate collaboration on early, joint concept studies for the two major projects.
Under the same agreement, any resulting EPCI (Engineering, Procurement, Construction, and Installation) execution would be directly awarded to the alliance, should a final investment decision (FID) be made.
Wisting, situated in the Barents Sea, offshore Norway, and Bay Du Nord, approximately 500 kilometres northeast of St. John’s, Newfoundland and Labrador, Canada, present exciting prospects for Equinor, OneSubsea, and Subsea7 to combine their expertise, experience, and capabilities.
This collaboration not only supports the advancement of these projects but also opens doors for additional opportunities in the short- to medium term.
OneSubsea, a joint venture backed by SLB, Aker Solutions, and Subsea7, is driving the new subsea era, leveraging digital and technology innovation to optimise oil and gas production, decarbonise subsea operations, and accelerate the energy transition.
With headquarters in Oslo and Houston, OneSubsea has 10,000 employees worldwide.
Subsea Integration Alliance, a strategic global alliance between OneSubsea and Subsea7, brings together field development planning, project delivery, EPCI contracting models, and total life cycle solutions under the world’s leading subsea technology and services portfolio.
