SLB (NYSE: SLB) has announced a significant contract award from BP for its OneSubsea joint venture, focusing on a subsea boosting system for the Kaskida project located in the deepwater U.S. Gulf of Mexico.

This contract represents a pivotal milestone in the enduring partnership between SLB OneSubsea and BP, marking the first engineering, procurement, and construction (EPC) contract specifically for a subsea boosting system between the two companies.

The scope of the project includes a supplier-led, high-pressure subsea pump solution that integrates a power and controls umbilical along with necessary topside equipment.

Mads Hjelmeland, CEO of SLB OneSubsea, expressed enthusiasm about this development, stating: “We’re delighted to expand our relationship with BP into the subsea processing domain, especially with such a critical delivery to BP’s first Paleogene field development.

“Our subsea boosting system will accelerate and maximise the immense potential for this development.”

The OneSubsea subsea boosting system is integral to BP’s inaugural Paleogene field development.

It is designed to provide the essential artificial lift required to enhance production efficiency by facilitating the accelerated recovery of reserves while minimising energy consumption.

The Kaskida field, discovered in 2006, is estimated to contain around four billion barrels of oil, with development costs projected between $15 billion and $20 billion.

This contract aligns with SLB‘s commitment to driving energy innovation and optimising oil and gas production through advanced technology solutions.

The collaboration aims to leverage digital and technological advancements to reduce emissions and enhance operational efficiency within subsea environments.