Corporate News
SLB Ltd. expands subsea footprint through partnership with PETRONAS Suriname
SLB Ltd. (formerly Schlumberger) announced a new collaboration with PETRONAS Suriname, formalised through its OneSubsea and Subsea7 units. The partnership, part of the Subsea Integration Alliance, aims to accelerate subsea development in Suriname’s frontier basin. By engaging early on field projects, the alliance plans to deliver integrated engineering, procurement, construction, installation and commissioning solutions, combining Subsea7’s expertise in subsea umbilicals, risers and flowlines with SLB OneSubsea’s production systems.
The agreement is positioned to streamline procurement, reduce development costs and shorten project timelines, thereby improving the economic profile of the prospects in the region. The collaboration is intended to provide a long‑term framework for joint delivery of multiple prospective projects, with a focus on cost efficiency and delivery certainty.
Market participants have noted the announcement, and the share price has shown a modest uptick following the release. Overall, the development reflects SLB’s strategy of leveraging its global subsea capabilities to support new offshore opportunities in emerging markets.
