SLB (formerly Schlumberger) said it brokered a long-term strategic collaboration agreement between Equinor ASA and the Subsea Integration Alliance, comprising OneSubsea™ and Subsea7. The pact was signed in Stavanger, Norway.
The agreement kickstarts exploratory efforts on two ventures: the Wisting field offshore Norway and Bay Du Nord, situated off Newfoundland and Labrador, Canada.
Described as an innovative, integrated approach, SLB said the agreement fosters early information sharing, technology innovation, and collaborative benefits crucial for unlocking economically viable subsea projects.
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“It builds upon the collective expertise of OneSubsea and Subsea7 within the Subsea Integration Alliance, solidifying their positions as trusted contractors to Equinor,” SLB said in its May 2 announcement.
Trond Bokn, Senior Vice President for Project Development at Equinor, emphasized the strategic significance of the collaboration, stating, “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.”
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SLB noted that the agreement facilitates immediate collaboration on early, joint concept studies for the two major projects. Any resulting Engineering, Procurement, Construction, and Installation (EPCI) execution would be directly awarded to the alliance upon a final investment decision (FID).
Wisting, situated in the Barents Sea offshore Norway, and Bay Du Nord, located approximately 500 kilometers (km) northeast of St. John’s, Newfoundland and Labrador, Canada, present significant challenges and opportunities, according to SLB.
“The combined expertise, experience, and capabilities of Equinor, OneSubsea, and Subsea7 promise to unlock further exploratory work and potential opportunities in the short- to medium-term,” the company noted.
