Business Wire

SLB Collaborates with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority on Geothermal Resource Development

Share

SLB (NYSE: SLB) is collaborating with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority in building a national strategy to develop the potential of Oman’s geothermal resources.

This announcement follows the completion of an extensive project to evaluate data from more than 7,000 oil, gas and water wells, with the objective of mapping sweet spots for geothermal prospects in the country. Commissioned by the Omani authorities, the SLB experts assessed surface, subsurface and well data from the national data repository over a three-month period.

“Geothermal is one of the world’s most promising clean energy resources, and it has a crucial role to play in reaching net-zero targets,” said Gavin Rennick, president of SLB’s New Energy business. “Using digital technology solutions to assess geothermal resource potential can accelerate prospectivity analysis and, ultimately, the delivery and performance of geothermal installations. We are excited to work with the Ministry of Energy and Minerals and the Oman Investment Authority to explore decarbonization pathways for Oman.”

In the initial phase of the collaboration, SLB’s GeothermEx multidisciplinary geothermal consulting team used a proprietary AI solution to expedite assessment, sorting, and evaluation of the huge volume of data from the Oman Oil & Gas Data Repository (OGDR), and delivered a comprehensive assessment of Oman’s geothermal potential. The next phase will include assessment of the economic feasibility of the development of potential geothermal resources.

“This collaboration between the Ministry of Energy and Minerals, Oman Investment Authority and SLB is in line with Oman’s efforts to decarbonize the energy sector, achieve its Net Zero goal, and implement Oman Vision 2040. Building on existing country data and infrastructure, this collaboration will create opportunities by utilizing the latest technologies in the field of geothermal exploration and ramp up activities in Oman’s clean energy stream. We are glad to work with SLB given the extensive global experience in this field,” said HE Salim Al Aufi, the Omani Minister of Energy and Minerals.

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 Oman Investment Authority (OIA)

Oman Investment Authority (OIA) is Oman’s sovereign wealth fund, and it is entrusted with managing, investing, and developing the Sultanate’s national and international assets. It has diverse investment portfolios both nationally and internationally, whereby it invests in over 40 countries across various sectors including food, energy, logistics, ICT, public services, finance and investment, food security, tourism, mining, industry, and aviation.

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 Energy 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 New Energy 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 the companies’ public filings, including 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, the parties disclaim 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.

Contact information

Media
Moira Duff – Director of External Communication, SLB
Tel: +1 (713) 375-3407
Email: media@slb.com

Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, SLB
Joy V. Domingo – Director of Investor Relations, SLB
Tel:+1 (713) 375-3535
Email: investor-relations@slb.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

Carbios Hosts World’s First PET Biorecycling Summit with Bertrand Piccard, Initiator and Chairman of the Solar Impulse Foundation, as Keynote Speaker9.12.2022 08:45:00 EET | Press release

Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221208005776/en/ Bertrand Piccard, Initiator and Chairman of the Solar Impulse Foundation, as Keynote Speaker at the First World PET Biorecycling Summit organised by Carbios Carbios (Euronext Growth Paris: ALCRB), a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastics and textiles, hosted the world’s first PET Biorecycling Summit from 7 to 8 December 2022 in Paris. The event attracted over 100 international participants from the scientific, academic, and industrial worlds to exchange on the advances in the field of biological recycling, and how to bring these innovations for a circular economy to market. The two-day conference gathered world-renowned scientists from various academic institutions to share their latest research on PET enzymatic depolymerization. Bertrand Piccard, Initiator and Chairman

Crash Bandicoot Returns in All-new Team Based, Four vs. Four, Competitive Showdown, Crash Team Rumble™9.12.2022 06:30:00 EET | Press release

Get ready to team up and throw down, because Crash and his friends (and foes) are back, and this time there will be some unexpected, fur-ocious competition! In development by the talented team at Toys for Bob who brought fans the acclaimed Crash Bandicoot™ 4: It’s About Time™, Crash Team Rumble ™ is an all-new 4v4, team-based online multiplayer video game set in Crash Bandicoot’s vibrant and zany universe. Published by Activision Publishing, Inc., Crash Team Rumble will release on PlayStation®5, PlayStation®4, Xbox® Series X/S and Xbox One® in 2023. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221208005292/en/ Crash Team Rumble Gameplay Screenshot (Photo: Business Wire) In Crash Team Rumble , fans can play as Crash, Dingodile, and a host of other friends and frenemies, each of which has their own distinct power, personality, and playstyle, as they compete across wild and varied arenas in 4v4 team-based online multiplayer a

Datopotamab Deruxtecan Showed Encouraging and Durable Efficacy in Patients with Heavily Pretreated HR Positive, HER2 Low or Negative Metastatic Breast Cancer9.12.2022 02:00:00 EET | Press release

Initial results from the TROPION-PanTumor01 phase 1 trial of datopotamab deruxtecan (Dato-DXd) showed encouraging and durable efficacy in patients with heavily pretreated hormone receptor (HR) positive, HER2 low (immunohistochemistry [IHC] 1+ or IHC 2+/in-situ hybridization [ISH]-) or HER2 negative (IHC 0) unresectable or metastatic breast cancer. Safety data were consistent with previous trials of datopotamab deruxtecan. Results were presented today as a Spotlight Poster Discussion (Abstract #PD13-08) at the 2022 San Antonio Breast Cancer Symposium (#SABCS22). Datopotamab deruxtecan is a specifically engineered TROP2 directed DXd antibody drug conjugate (ADC) being jointly developed by Daiichi Sankyo (TSE: 4568) and AstraZeneca (LSE/STO/Nasdaq: AZN). Approximately 70% of breast cancer tumors are considered HR positive and HER2 low or negative.1 For patients with HR positive, HER2 low or negative metastatic breast cancer that progress on or are not suitable candidates for endocrine the

TreviPay Acquires Apruve9.12.2022 01:45:00 EET | Press release

TreviPay, a leader in global B2B payments and invoicing solutions, today announced the signing of a definitive agreement to acquire payment platform Apruve. Apruve offers a robust suite of payment solutions for global enterprises that will complement and expand on TreviPay’s existing order-to-cash technology offerings, merchant invoicing solutions, and the geographical reach of TreviPay’s existing B2B networks. TreviPay has experienced unprecedented demand from global enterprise buyers and sellers resulting in 30% organic growth in 2022, and this acquisition furthers TreviPay's plans to expand its order-to-cash technology offerings and B2B payment network. This acquisition builds on TreviPay’s recent purchase of Baton Financial Services. “TreviPay provides payment and invoicing solutions for a number of leading manufacturers and OEMs; the acquisition of Apruve will accelerate our advancement in the technology manufacturing vertical and expand our geographic reach into key Asian markets

Ipsen Provides Update On Phase III CONTACT-01 Trial Evaluating Cabozantinib in Combination With Atezolizumab in Patients With Metastatic Non-small Cell Lung Cancer Previously Treated With Immunotherapy and Chemotherapy9.12.2022 00:05:00 EET | Press release

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) announced today that the CONTACT-01 study did not meet its primary endpoint of overall survival (OS) at the final analysis. CONTACT-01 is a phase III clinical trial evaluating Cabometyx® (cabozantinib) in combination with atezolizumab (Tecentriq®) versus docetaxel in patients with unmutated metastatic non-small cell lung cancer (NSCLC) who experienced disease progression on or after treatment with an immune checkpoint inhibitor and platinum-containing chemotherapy. Howard Mayer, M.D., Executive Vice President, Head of Research and Development at Ipsen, said: “The results from the CONTACT-01 clinical trial have shown the challenge of treating NSCLC patients after prior lines of treatment have failed. While the findings of the study have not met the primary endpoint in this setting, we remain confident in the clinical efficacy of cabozantinib alone and in combination with another treatment in existing indications in difficult-to-treat tu

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