SLB, Aker Solutions and Subsea7 Announce Closing of OneSubsea Joint Venture
SLB (NYSE: SLB), Aker Solutions and Subsea7 announced today the final closing of their previously announced joint venture. The new business, which will adopt the OneSubsea name, will drive innovation and efficiency in subsea production by helping customers unlock reserves and reduce cycle time.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230929052165/en/
OneSubsea now comprises SLB’s and Aker Solutions’ subsea businesses, which include an extensive complementary subsea production and processing technology portfolio. (Photo: Business Wire)
OneSubsea now comprises SLB’s and Aker Solutions’ subsea businesses, which include an extensive complementary subsea production and processing technology portfolio, world-class manufacturing scale and capacity, access to industry-leading reservoir and digital domain expertise, unique pore-to-process integration capabilities and strengthened R&D capabilities.
“The offshore market is demonstrating a sustained resurgence as operators across the world look to accelerate development cycle times and increase the productivity of their offshore assets,” said SLB Chief Executive Officer Olivier Le Peuch. “With its combined technology portfolio that leverages digital innovation, OneSubsea is ideally placed to support customers in their drive to improve asset performance while increasing energy efficiency and reducing CO2 emissions.”
OneSubsea’s field-proven subsea processing capabilities are seen by its customers as unparalleled in enhancing reservoir recovery and enabling long tie backs. Its unique compression technology portfolio has proven its potential to reduce the structure and capital cost of developing new energy reserves, while subsea projects have shown to be inherently more carbon efficient than topside solutions.
“OneSubsea’s extensive technology portfolio and engineering expertise enable us to address future market trends and needs at a unique scale. In doing so, we aim to fulfil our purpose of expanding the frontiers of subsea to drive a sustainable energy future,” said Mads Hjelmeland, newly appointed Chief Executive Officer of OneSubsea. “We will accelerate innovation and contribute to the ambition of our customers to optimize their production and reduce emissions in their subsea operations.”
OneSubsea will be headquartered in Oslo, Norway, and Houston, Texas, with 11,000 people working in all key operating regions around the world. SLB holds a 70% equity stake in the joint venture, with Aker Solutions and Subsea7 holding 20% and 10% respectively.
More information on the transaction is available on SLB’s investor relations website, which can be accessed at https://investorcenter.slb.com/.
About SLB
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.
About Aker Solutions
Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 11,000 people in more than 15 countries. Find out more at www.akersolutions.com.
About Subsea7
Subsea7 is a global leader in the delivery of offshore projects and services for the energy industry. Subsea7 makes offshore energy transition possible through the continuous evolution of lower-carbon oil and gas and by enabling the growth of renewables and emerging energy. Find out more at www.subsea7.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230929052165/en/
Contact information
Media
Moira Duff – Director of External Communications
SLB
Tel: +1 (713) 375-3407
media@slb.com
Hallvard Norum – Vice President Media
& Channels, Aker Solutions
Tel: +47 913 80 820
hallvard.norum@akersolutions.com
Julie Taylor – Head of Group Communications Subsea7
Tel: +44 1224 526270
communications@subsea7.com
Investors
James R. McDonald – Vice President of Investor Relations
Joy V. Domingo – Director of Investor Relations
SLB
Tel: +1 (713) 375-3535
investor-relations@slb.com
Preben Ørbeck– Senior Vice President Investor Relations, Aker Solutions
Tel: +47 470 10 611
preben.orbeck@akersolutions.com
Katherine Tonks – Investor Relations Director Subsea7
Tel: +44 20 8210 5568
ir@subsea7.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
SBC Medical added to membership of Russell 3000 ® Index28.6.2025 02:30:00 EEST | Press release
SBC Medical Group Holdings Incorporated (Nasdaq: SBC) (“SBC Medical”), a global franchise and provider of services for aesthetic clinics, has been added as a member of the broad-market Russell 3000® Index, effective after the US market opens on June 30, as part of the 2025 Russell indexes reconstitution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250608244276/en/ Yoshiyuki Aikawa-Director (Chairman), CEO Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000®Index as well as the appropriate growth and value style indexes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to
Altimetrik and SLK Software Join Forces to Create an AI-First Engineering Services Powerhouse27.6.2025 23:44:00 EEST | Press release
Altimetrik, a pure-play AI, Data and Digital engineering solutions company, today announced the signing of a definitive agreement to acquire SLK Software (“SLK”), a global technology services firm focused on delivering AI, intelligence automation and analytics solutions. The acquisition will further strengthen Altimetrik’s end-to-end enablement services and expand its customer reach, with a clear path to accelerate towards Altimetrik’s goal of reaching $1billion in annual revenue. The transaction remains subject to customary closing conditions and is expected to close in the second half of 2025. Financial details were not disclosed. Founded in 2000, SLK is recognized as a leader in the tech industry, and for its commitment to create innovative digital solutions. This strategic acquisition will significantly enhance the scale of Altimetrik’s capabilities, bringing together Altimetrik’s AI-first, platform-native engineering model and SLK’s full technology services stack that will further
PRD Therapeutics Announces Initiation of First-in-Human Study for PRD00127.6.2025 17:00:00 EEST | Press release
PRD Therapeutics, Inc., a clinical stage company focused on the development of novel lipid metabolism regulators targeting homozygous familial hypercholesterolemia (HoFH) and metabolic dysfunction associated fatty liver disease (MASH/MASLD), today announced that the company recently initiated dosing in a First-in-Human (FIH) clinical trial of PRD001, a first-in-class SOAT2 (formerly known as ACAT2) selective inhibitor. “We are excited to initiate dosing in this clinical trial of PRD001. Many clinical trials have been conducted on SOAT1/2 dual or SOAT1 selective inhibitors, but this is the first clinical trial of an SOAT2 selective inhibitor” said Kanji Hosoda, Ph.D., CEO and co-founder of PRD Therapeutics. “Several results with SOAT1 or 2 knockout mice have been published, suggesting that knocking out or inhibiting only SOAT2 is crucial to demonstrate safety and efficacy. PRD001 is the world's first and only SOAT2-selective inhibitor and is expected to exhibit safety and efficacy in hu
STEMCELL Technologies Introduces STEMprep™ Tissue Dissociator System to Accelerate Research Discoveries27.6.2025 15:00:00 EEST | Press release
To help scientists accelerate their workflows, STEMCELL Technologies has commercially launched the STEMprep™ Tissue Dissociator System—a new benchtop instrument that automates, standardizes, and streamlines tissue dissociation, the process of breaking down tissue samples into single-cell suspensions for research purposes. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250627342791/en/ To help scientists accelerate their workflows, STEMCELL Technologies has commercially launched the STEMprep™ Tissue Dissociator System—a new benchtop instrument that automates, standardizes, and streamlines tissue dissociation, the process of breaking down tissue samples into single-cell suspensions for research purposes. “Tissue dissociation is incredibly important for making advancements in research fields, like cancer and immunology, yet this manual process demands significant time and effort and can lead to inconsistent results,” said Dr. A
Pure Lithium Founder & CEO Emilie Bodoin Recognized for Trailblazing Woman of the Year at 2025 Volta Foundation Awards at 17 th Annual Fastmarkets Lithium Supply and Battery Raw Materials Conference27.6.2025 13:00:00 EEST | Press release
Pure Lithium Corporation, a disruptive vertically integrated lithium metal battery technology company, is pleased to announce that its Founder, Chairman & CEO, Emilie Bodoin received special recognition for Trailblazing Woman of the Year Award Sponsored by ExxonMobil at the 2025 Fastmarkets Volta Awards Ceremony, in Las Vegas, Nevada on June 24. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250627170164/en/ This award celebrates an exceptional female leader who has demonstrated outstanding leadership, vision, and impact within her industry. It recognizes achievements in driving innovation, fostering diversity, and inspiring others while making significant contributions to her organization. “I am truly honored to receive special recognition for this award. One of the best things about my role is the opportunity to lead by example and encourage and inspire women and girls who may not yet recognize their potential. To all of m
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom