BP Taps SLB OneSubsea for Tiber Deepwater Subsea Boosting System

BP plc BP, the British oil and gas major, has awarded a contract to the OneSubsea joint venture to provide a subsea boosting system for the greenfield development in the Tiber project. The Tiber project is a deepwater development located offshore the United States. The OneSubsea joint venture was formed by SLB, Aker Solutions, and Subsea7.

OneSubsea Joint Venture Secures Two Contracts

The engineering, procurement, and construction (EPC) contract for the Tiber greenfield development was awarded shortly after the joint venture secured a similar subsea boosting contract for BP’s Kaskida project in the Gulf of Mexico. The two projects focus on the prolific Paleogene reserves in the deep waters of the Gulf of America. The Paleogene reservoirs are known to be geologically complex and are challenging to develop. As such, both projects will utilize the same standardized high-pressure pump system developed by the same supplier to target these reserves.

SLB OneSubsea mentioned that it looks forward to supporting BP in realizing higher value from its projects targeting the Paleogene reservoirs. It also stated that more and more operators are choosing subsea boosting systems for offshore operations. Subsea boosting solutions use advanced subsea pumps that can deliver higher recovery rates and increase efficiency in complex, deepwater environments. These systems also optimize topside space on host platforms and reduce overall power usage by placing equipment closer to the reservoir, leading to efficiency gains.

BP Greenlights Tiber-Guadalupe Hub

BP announced a final investment decision on the Tiber-Guadalupe project in September 2025, which will be the company’s seventh oil and gas production hub in the Gulf of America. The production hub will use a new floating production platform with a production capacity of 80,000 barrels of crude oil per day. The project is expected to start production in 2030.

BP’s Zacks Rank and Key Picks

BP currently carries a Zacks Rank #3 (Hold).

Some top-ranked stocks from the energy sector are Oceaneering International OII, Canadian Natural Resources Ltd. CNQ and FuelCell Energy FCEL. While Oceaneering and Canadian Natural Resources currently sport a Zacks Rank #1 (Strong Buy) each, FuelCell carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading provider of offshore equipment and technology solutions to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.

Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The company boasts a diversified portfolio of crude oil, natural gas, bitumen and synthetic crude oil. It has delivered 25 consecutive years of dividend increases, one of the longest streaks among global oil producers.

FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.

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This article originally published on Zacks Investment Research (zacks.com).

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