Schlumberger Limited - SLB STOCK NEWS

SLB (NYSE: SLB) has secured a contract from Petrobras for two subsea raw seawater injection (RWI) systems for the Búzios field in Brazil. The systems will support FPSOs P-74 and P-75, each including a subsea seawater injection pump, umbilical system, and topside variable speed drive. These RWI systems aim to increase production by addressing water injection capacity bottlenecks and will reduce greenhouse gas emissions per barrel of oil compared to conventional topside injection systems.

The project will strengthen SLB's local presence in Brazil through manufacturing plants and subsea service facilities. The company will provide technical support using AI-enabled Subsea Live™ services, including condition monitoring and domain expert access.

SLB has secured a major contract with Petrobras following a competitive tender for integrated services across all Petrobras' offshore fields in Brazil. The approximately $800 million contract involves overseeing the construction of more than 100 deepwater wells using up to nine ultra-deepwater rigs. The three-year contract begins in April 2025 and covers operations in the Campos, Santos, and Espírito Santo Basins, with potential expansion to the Equatorial Margin.

The project will utilize advanced technologies including SLB's Ora™ intelligent wireline formation testing platform and SpectraSphere™ fluid mapping-while-drilling service, with most technology and equipment being sourced locally. These technologies aim to enhance operational efficiency, minimize risks, and reduce emissions while providing real-time reservoir characterization and improved drilling decisions.

SLB has introduced Neuro autonomous geosteering, an AI-powered drilling technology that automatically guides drill bits through the most productive reservoir layers. The system dynamically interprets real-time subsurface data and makes autonomous decisions, eliminating the need for manual interpretation by geologists.

The technology builds upon SLB's existing Neuro autonomous directional drilling system, adding high-fidelity downhole measurements for optimal well placement. In a successful deployment in Ecuador for Shaya Ecuador S.A., the system executed 25 autonomous trajectory changes across a 2,392-foot lateral section, resulting in one of the country's best-producing wells.

SLB Capturi has completed construction of the world's first industrial-scale carbon capture plant at Heidelberg Materials' cement facility in Brevik, Norway. The facility will reduce emissions by up to 400,000 metric tons of CO2 annually. The completed plant includes carbon capture system, compression system, heat integration system, intermediate storage, and loadout facilities.

The plant, now ready for testing and commissioning, will enable production of net zero cement without compromising product quality. It is part of The Longship CCS project, Europe's first complete value chain for capture, transport, and storage of industrial CO2 emissions. Operations are scheduled to start during 2025.

SLB Capturi has completed construction of the world's first industrial-scale carbon capture plant at Heidelberg Materials' cement facility in Brevik, Norway. The plant is designed to capture up to 400,000 metric tons of CO2 annually, enabling production of net zero cement without compromising product quality. The facility includes carbon capture system, compression system, heat integration system, intermediate storage, and loadout facilities. Part of The Longship CCS project, Europe's first complete value chain for CO2 capture, transport, and storage, the plant will begin commissioning phase with operations starting in 2025.

SLB has released its 2023 Women and Pay report, revealing an average global pay gap of 2.37% and a median global pay gap of 1.76% favoring men. The company has made progress in narrowing equal pay gaps, with 40.33% of gaps now within 2%, up from 31.63% two years ago. The report analyzed salary data for the company's workforce, comparing base salaries between genders in similar roles. A key finding showed that female employees with more children experience wider pay gaps. SLB was recognized as a finalist in the Transparency Award category at the World 50 2024 Inclusion and Diversity Impact Awards.

SLB has secured two prestigious awards at the 2024 Gulf Energy Information Excellence Awards, which recognized outstanding innovations from over 500 nominations across 29 categories. The company won in Best Production Technology for their Multicycle System for Actuated Response (MSAR), which enhances downhole operations efficiency through surface-commanded fluid diversion, and in Best Controls, Instrumentation, and Automation Technology-Upstream for their Autonomous Well Intervention system.

The latter achievement, developed in collaboration with Aker BP, combines digital workflows and autonomous execution for various well intervention operations, resulting in improved success rates, faster operations, reduced CO2 emissions, and lower operational costs.

SLB has announced that Ann Robertson-Tait, president of its GeothermEx™ geothermal consulting services, has been honored with the prestigious Geothermal Pioneer Award from Geothermal Rising, the world's largest geothermal association.

SLB (NYSE: SLB) announced that its OneSubsea joint venture has been awarded a contract by bp for a subsea boosting system for the Kaskida project in the deepwater U.S. Gulf of Mexico. This marks the first engineering, procurement and construction (EPC) contract for a subsea boosting system between the two companies. The project includes a high-pressure subsea pump solution with integrated power and controls umbilical, and topside equipment. The system will provide artificial lift to maximize production through accelerated recovery of reserves with minimal energy consumption in bp's first Paleogene field development.