SLB Awarded Major Contract by OQEP for Integrated Facility Expansion in Oman

SLB (NYSE: SLB) has been awarded a contract by OQ Exploration & Production (OQEP) to deliver the Bisat-B Expansion Production Facility in Oman.

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Under the contract, SLB will provide design, engineering, procurement, construction and commissioning services for the facility, along with four years of operations and maintenance support. The expansion will increase the facility’s gross fluids handling capacity to 548,000 barrels per day. The project is scheduled for completion within 19 months.

The award marks the next phase of development for the Bisat Field and builds on a successful track record between OQEP and SLB, following the delivery of the Bisat-A facility in 2018 and the original Bisat-B facility in 2020. The expansion further strengthens a long-standing partnership and builds on the established working relationship between OQEP and SLB. SLB will provide integrated project delivery from engineering through commissioning, followed by four years of operations and maintenance support, to support the continued development and operational performance of the Bisat Field.

“We are pleased to continue supporting OQEP in the development of production infrastructure for the Bisat Field,” said Jesus Lamas, president, Middle East and North Africa, SLB. “By combining our global expertise with decades of local experience in Oman, we will help support production growth while delivering safe, efficient and reliable performance for years to come.”

Key Points:

• SLB has been awarded a major contract by OQEP to deliver the Bisat-B Expansion Production Facility in Oman.
• The project supports the next phase of Bisat Field development and OQEP's production growth objectives.
• SLB will provide end-to-end project delivery, including design, engineering, procurement, construction, commissioning, operations and maintenance services.
• The award follows successful delivery of the Bisat-A and original Bisat-B facilities.

About SLB

SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. 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.

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; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; 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.

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