SLB OneSubsea, Subsea7 sign long-term deal with Equinor

SLB OneSubsea and Subsea7 have signed a long-term strategic collaboration agreement with Equinor and begun work on two of its deepwater projects, the companies announced on Thursday.

Under the deal, the two subsea players, which partner as the Subsea Integration Alliance, will step in to Equinor projects at an early stage as contractors, participating in joint concept studies and collaborating on development.

They have commenced work on joint concept studies for Equinor’s  Wisting field off Norway and the Bay Du Nord project off Canada’s east coast.

“Equinor is working hard to improve and mature the Wisting and Bay du Nord projects. Selecting the supplier at this early stage is a new way of approaching project development for us, and a vote of confidence to Subsea Integration Alliance,” Equinor’s senior vice-president for project development, Trond Bokn, said.

“We look forward to developing concepts together, in a process with full visibility on profitability, and joint efforts to make these challenging projects sanctionable.”

Image courtesy of SLB.