What is the Thunder Horse field?

The Thunder Horse field is a major oil and gas field in the Gulf of Mexico operated by bp.

How will this contract affect SLB's revenue?

The contract is expected to boost SLB's offshore services revenue, but the financial value has not been disclosed.

Is SLB a good turnaround stock to buy in 2026?

According to Insider Monkey, SLB is one of the 7 best turnaround stocks to buy in 2026, but this is not a buy recommendation.

SLB Wins bp Contract for Subsea Boosting at Thunder Horse

SLB N.V. (NYSE:SLB) announced on June 8, 2026 that its OneSubsea joint venture was awarded a contract by bp to provide a subsea boosting system for the Thunder Horse project. The contract strengthens SLB's position in offshore energy services.

June 13, 2026

2 min read

Source: Insider Monkey

SLB N.V. (NYSE:SLB) announced on June 8, 2026 that its OneSubsea joint venture was awarded a contract by bp (BP) to provide a subsea boosting system for the Thunder Horse field in the Gulf of Mexico. The contract marks a key step in SLB's growth strategy in offshore oilfield services.

Contract Details

OneSubsea will supply a subsea boosting system to enhance production rates and recovery from the Thunder Horse field. Mads Hjelmeland, CEO of SLB OneSubsea, stated that the system will improve production efficiency and reduce operational costs.

Context

The contract comes as SLB seeks to strengthen its presence in offshore energy projects, especially as major companies focus on optimizing output from existing fields. SLB is also considered one of the top turnaround stocks for 2026 by analysts.

What It Means for Investors

The contract bolsters SLB's revenue outlook in offshore services but does not fundamentally change the company's overall financial picture. Long-term performance remains tied to global oil prices and the pace of service contracts.

Frequently Asked Questions

OneSubsea is a joint venture between SLB and another company, specializing in subsea production solutions.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.