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Apex Trader Funding (ATF) - News

SLB Secures Contract for All-Electric Subsea Project in Norway

SLB (NYSE: SLB) has been awarded a contract by Equinor ASA (NYSE: EQNR) to deliver the front-end engineering design ("FEED") for an innovative all-electric subsea project in Norwegian waters. The project marks a notable advancement in subsea technology, focusing on electrification to enhance efficiency and production capabilities. It will be carried out by SLB OneSubsea, a joint venture supported by SLB, Aker Solutions and Subsea7, with headquarters in Oslo and Houston. Per the agreement, SLB will oversee the FEED for a 12-well, all-electric subsea production systems project located in the Fram Sor field offshore Norway. Upon reaching a final investment decision, the future engineering, procurement and construction phases will be directly awarded to SLB OneSubsea. The Fram Sor project will utilize SLB OneSubsea's standard subsea tree design, enhanced with a fully electrified power, control and actuation system. SLB asserts that replacing high-pressure hydraulic systems with electric ones will enable operators to explore further ...