Equinor Awards North Sea Subsea Contract to SLB OneSubsea

Schlumberger Limited (NYSE:SLB) is one of the best dividend stocks to buy. On August 25, SLB announced that OneSubsea, its joint venture, landed a project contract from Equinor covering design, supply, and construction of a 12-well subsea system in Norway’s Fram Sør field.

After a year of early engineering and planning with Equinor, SLB OneSubsea completed the design and investment choice. It will now deliver four subsea structures and 12 fully electric subsea trees, which do away with hydraulic fluid and lessen the need for adjustments on the topside.

Mads Hjelmeland, the CEO of SLB OneSubsea, commented that the Fram Sør project is an industry breakthrough since it introduces the first full-scale all-electric subsea production system.

Fram Sør will be tied back to the Troll C platform in the North Sea, using onshore Norwegian power to ensure low emissions. The contract awaits approval of the development plan.

SLB OneSubsea, a joint venture among Schlumberger Limited (NYSE:SLB), Aker Solutions, and Subsea7, is headquartered in Oslo and Houston and has 10,000 staff worldwide, focusing on subsea operations.

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