SLB (NYSE: SLB) has been awarded a significant contract by Equinor for the front-end engineering design (FEED) of a pioneering 12-well, all-electric Subsea Production Systems (SPS) project in the Fram Sør field, offshore Norway.
This innovative project is set to revolutionise the subsea industry by accelerating the global adoption of electric subsea technology.
The contract, announced on June 27, 2024, marks a major milestone in subsea operations, promising to establish new benchmarks for operator control, operational efficiency, and reduced offshore emissions.
As part of the agreement, SLB OneSubsea is poised to secure future engineering, procurement, and construction work, contingent on a final investment decision.
This groundbreaking initiative is the culmination of a joint industry project that began in 2018, involving collaboration among major industry players to develop standardised electrification technology for subsea operations.
The standardised approach is expected to enable efficient and economical scaling of subsea electrification for operators worldwide, offering significant capital and operational expenditure benefits.
Mads Hjelmeland, CEO of SLB OneSubsea, emphasised the importance of this development, stating, “Electrification is vital to the future of subsea operations in the energy transition. This technology has effectively created the IoT for subsea trees, providing operators with improved control through live performance and condition monitoring.”
The Fram Sør solution will utilise SLB OneSubsea’s standard subsea tree design, enhanced with a fully electrified power, control, and actuation system.
By eliminating high-pressure hydraulic systems, this technology will allow operators to explore greater depths and improve production, potentially making even marginal fields more economically viable.
This project represents a significant step forward in the energy industry’s efforts to reduce its environmental footprint while improving operational efficiency.
As the world continues to focus on sustainable energy solutions, innovations like this all-electric subsea system are likely to play a crucial role in shaping the future of offshore oil and gas production.
