Trio form global subsea operations powerhouse

SLB, Aker Solutions and Subsea7 have joined hands to create OneSubSea, the world’s largest subsea operations company, the global technology providers announced on Monday.

OneSubSea is comprised of oilfield services giants SLB’s and Aker Solutions’ subsea businesses alongside backing from Subsea7.

The new company will house the trio’s production and processing portfolio, including manufacturing, reservoir, digital, pore-to-process integration and combined R&D capacities. Subsea7’s stake will provide the company with expertise in subsea umbilicals, risers and flowlines.

The joint venture will be jointly headquartered in Houston, USA, and Oslo, Norway, and have a workforce of 11,000.

SLB holds a 70% majority stake in OneSubSea, with Aker Solutions holding a 20% stake and Subsea7 holding a 10% stake.

Mads Hjelmeland, previous director of subsea production systems at SLB has been appointed CEO of OneSubsea.

“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 Olivier Le Peuch, CEO of SLB.

“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 carbon dioxide emissions.”

The company now competes with TechnipFMC as the world’s largest subsea equipment supplier.