SLB OneSubsea awarded subsea boosting contract by Petrobras for the Búzios field, offshore Brazil

Rhea-AI Summary

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.

Positive

• Contract win for subsea raw water injection systems from Petrobras
• Systems will increase production at Búzios field FPSOs
• Technology reduces greenhouse gas emissions per barrel compared to conventional systems
• Strengthens local presence in Brazil through manufacturing and service facilities

Negative

• None.

Insights

Energy Technology Analyst

This significant contract win for SLB's OneSubsea joint venture represents a strategic advancement in subsea technology deployment. The raw seawater injection systems for Búzios field will enhance oil recovery while reducing operational costs and environmental impact. The technology's placement on the seabed, rather than on the FPSO vessels, creates a triple benefit: increased production capacity, reduced topside space requirements and lower power consumption. The AI-enabled monitoring services and local content commitment demonstrate SLB's long-term strategic positioning in Brazil's offshore market.

The implementation of these systems directly addresses the water injection bottleneck in P-74 and P-75 FPSOs, which should lead to improved production rates. The project aligns with industry trends toward more efficient and sustainable oil recovery methods in mature deepwater basins. This contract strengthens SLB's market position in Brazil's offshore sector and showcases their technological leadership in subsea solutions.

Environmental Impact Analyst

The subsea raw water injection systems represent a significant environmental efficiency improvement for the Búzios field operations. By moving injection systems to the seabed, the technology reduces greenhouse gas emissions per barrel of oil produced through decreased power requirements and improved operational efficiency. This aligns with growing industry pressure to minimize environmental impact while maintaining production levels. The system's design optimizes energy usage by eliminating the need to pump water to the surface before injection, representing a more sustainable approach to reservoir pressurization compared to conventional topside systems.

Subsea raw water injection systems will improve field development economics and reduce carbon footprint

HOUSTON--(BUSINESS WIRE)-- Global energy technology company SLB (NYSE: SLB) today announced a contract award by Petrobras, following a competitive tender, to its OneSubsea™ joint venture for two subsea raw seawater injection (RWI) systems to increase recovery from the prolific Búzios field.

Under the contract, SLB OneSubsea will provide two complete subsea RWI systems to support Petrobras’ FPSOs P-74 and P-75, and they will each consist of a subsea seawater injection pump, umbilical system and topside variable speed drive. (Photo: Business Wire)

The subsea RWI systems will help to increase the production of floating production storage and offloading (FPSO) vessels, which are currently bottlenecked in their water injection capacities. Once operational, the RWI systems will reduce greenhouse gas (GHG) emissions per barrel of oil as they are a more efficient means of reservoir pressurization to increase recovery when compared with the conventional alternative of topside injection systems.

“As deepwater basins mature, we see more and more secondary recovery opportunities emerging,” said Mads Hjelmeland, CEO of SLB OneSubsea. “Subsea raw seawater injection is a well-proven application with a strong business case that we think should become mainstream. By placing the system directly on the seabed, we free up space and reduce fuel needs for the FPSOs as well as lessen the power needs for the injection systems. It’s a win-win for Petrobras, and one that we are very excited about. This contract will consolidate our solid local content presence in the country, contributed by the largest manufacturing plants and state-of-the-art subsea service facilities in Brazil.”

Under the contract, SLB OneSubsea will provide two complete subsea RWI systems to support Petrobras’ FPSOs P-74 and P-75, and they will each consist of a subsea seawater injection pump, umbilical system and topside variable speed drive.

As part of this project, SLB OneSubsea will further strengthen its multidisciplinary team in-country, which will cover the full processing value chain from field development to system engineering and life-of-field support. This team will also provide technical support using AI-enabled Subsea Live™ services, including continuous condition monitoring and access to domain experts.

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 SLB OneSubsea

SLB OneSubsea is driving the new subsea era that leverages digital and technology innovation to optimize our customers’ oil and gas production, decarbonize subsea operations, and unlock the large potential of subsea solutions to accelerate the energy transition. SLB OneSubsea is a joint venture backed by SLB, Aker Solutions, and Subsea7 headquartered in Oslo and Houston, with 10,000 employees across the world. Find out more at onesubsea.com.

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 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 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 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, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241212795762/en/

Media

Josh Byerly – SVP of Communications

Moira Duff – Director of External Communications

SLB

Tel: +1 (713) 375-3407

media@slb.com

Investors

James R. McDonald – SVP of Investor Relations & Industry Affairs

Joy V. Domingo – Director of Investor Relations

SLB

Tel: +1 (713) 375-3535

investor-relations@slb.com

Source: SLB

FAQ

What is the purpose of SLB's new RWI systems for the Búzios field?

The RWI systems will increase production at FPSOs P-74 and P-75 by addressing water injection capacity bottlenecks and provide more efficient reservoir pressurization while reducing greenhouse gas emissions.

How will the SLB RWI systems reduce environmental impact at Búzios field?

The systems will reduce greenhouse gas emissions per barrel of oil by providing more efficient reservoir pressurization compared to conventional topside injection systems.

What components are included in SLB's RWI systems for Petrobras?

Each RWI system includes a subsea seawater injection pump, umbilical system, and topside variable speed drive.

How will SLB provide technical support for the Búzios field RWI systems?

SLB will provide technical support through AI-enabled Subsea Live™ services, including continuous condition monitoring and access to domain experts.