HOUSTON (dpa-AFX) - Schlumberger Limited (SLB), Monday announced that its joint venture, SLB OneSubsea, along with Subsea7, has secured a major EPCI or engineering, procurement, construction and installation contract from bp for the Ginger project offshore Trinidad and Tobago.
The collaboration emphasizes early engagement, transparency, and a novel commercial model aimed at optimizing performance and value across project lifecycles.
SLB OneSubsea will provide four subsea trees and the region's first high-integrity pressure protection system manifold, enhancing safety and efficiency. Subsea7 will handle the production flowline and subsea tie-ins.
Executives from SLB and Subsea7 highlighted the project as a key step in transforming subsea operations and lowering overall costs through strategic collaboration.
SLB is currently trading at $34.12. down $0.61 or 1.77 percent on the New York Stock Exchange.
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