SLB Wins bp's Thunder Horse Subsea Boosting Contract
SLB announced that its OneSubsea joint venture won an engineering, procurement, and construction contract from bp to supply a standardized subsea boosting system for the Thunder Horse deepwater project in the Gulf of Mexico. This follows earlier awards for bp's Kaskida and Tiber developments, highlighting SLB's growing role as a preferred deepwater solutions provider.
SLB (SLB) announced that its OneSubsea joint venture has won an engineering, procurement, and construction (EPC) contract from bp to supply a standardized subsea boosting system for the Thunder Horse deepwater project in the Gulf of Mexico. The award follows earlier contracts for bp's Kaskida and Tiber fields, reinforcing SLB's position as a key partner for bp's deepwater developments.
The Product
OneSubsea's standardized subsea boosting system is designed to enhance production from deepwater fields by compressing flow subsea. Its modular and scalable design reduces costs and accelerates delivery timelines.
Pricing and Availability
Financial terms of the contract were not disclosed. Execution is expected to begin immediately, with completion aligned with the project schedule.
Competition
SLB faces competition from TechnipFMC and Baker Hughes in the subsea boosting market. However, the consecutive contract wins from bp suggest a competitive edge for OneSubsea's standardized technology.
Potential Impact on SLB
The contract boosts SLB's subsea solutions revenue and strengthens its reputation as a reliable provider for major deepwater projects. It also opens opportunities for additional contracts with bp and other operators in the Gulf of Mexico.
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