Investor Highlights

SLB continues to win new long-cycle contracts for the Core Divisions, particularly in the Middle East and offshore basins.

OneSubsea integrates and optimizes the entire production system over the life of the field.

OneSubsea to Provide Production Systems and Services for Petrobras' Deepwater Búzios Field

Petrobras and OneSubsea® entered into an agreement for Búzios 10 engineering, procurement, construction, and installation subsea production system scope. OneSubsea will provide subsea production systems equipment and associated services for four development phases of the deepwater Búzios Field offshore Brazil. The project scope includes 16 fit-for-purpose vertical subsea trees, controls systems and five subsea distribution units, as well as installation, commissioning, and services for the life of the field. The project will be supported by the OneSubsea Brazil Center of Excellence on Subsea Production Systems, which will drive in-country value across both equipment and service scopes. Located in the pre-salt area of the Santos Basin, Búzios is one of the world's largest deepwater oil fields.

The energy transition is a global imperative, and SLB remains focused on implementing technology solutions to deliver higher value with lower carbon emissions. Customers continue to make SLB the partner of choice for maximizing performance across reservoir evaluation, well construction, production, and integrated operations, all while operating more sustainably.

Intelligent power management is a predictive power management system that reduces emissions, fuel consumption, and engine run time on the rig.

Intelligent Power Management Selected for Super-Spec Rig Decarbonization

In the US, intelligent power management, one of the SLB Transition Technologies to decarbonize engine-generator (genset) operations, was deployed on a Unit Drilling Company super-spec BOSS rig with three gensets. During 56 consecutive days of rig operation, this automated software leveraged a rapid-response battery energy storage system to reduce total genset runtime by 1,186 hours, conserving 14,332 gallons of diesel fuel consumption while eliminating an associated 147 metric tons of CO2e emissions. The rig provided sufficient power from one genset during tophole drilling, tubular tripping, and various surface activities. This direct digital system runs the active genset at its optimal rating to increase energy efficiency, and the battery safely absorbs harsh transient power sikes, thereby extending genset reliability, all without the need for rig crew intervention.

The EcoShield geopolymer cement-free system matches the properties of portland cement-based systems while delivering comparable performance.

EcoShield Geopolymer Cement-Free System Minimizes Well Construction CO2 Footprint

During the quarter, SLB introduced the EcoShield geopolymer cement-free system that minimizes the CO2 footprint of a well's construction. This innovative technology eliminates up to 85% of embodied CO2 emissions compared with conventional well cementing systems, which include portland cement. The EcoShield system has the potential to avoid up to 5 million metric tons of CO2 emissions annually, the equivalent of removing 1.1 million cars from the road each year. The EcoShield system uses locally sourced natural materials and industrial waste streams in its composition, making this a far more sustainable well integrity method. The cement-free system can be deployed throughout various phases of the well life cycle, including abandonment, and across a range of field applications, including in corrosive environments.

SLB is deploying digital technology at scale, helping customers to measure and understand their data and leverage insights to drive innovation and elevate performance.

Collaborative digital solutions optimize uptime and performance of production processing facilities

Petrobras Awards Contract for Dynamic Simulation Solution at New FPSOs in Santos Basin

SLB was awarded a contract to develop and implement a control system and dynamic process simulation solution for Petrobras. This strategic multipurpose dynamic simulation (MPDS) solution is being developed in partnership with Inprocess Technology and Consulting Group, a worldwide leader in MPDS, and Sensia, the leading control system and automation specialist in oil and gas. The MPDS solution will leverage SLB's expertise as an original equipment manufacturer and in offshore construction and operations to provide an immersive digital twin environment to dynamically simulate operational processes and their control and automation systems, train personnel, and strengthen safety elements at five new floating production, storage, and offloading units to be installed in Búzios Field in the Santos Basin.

Customers are increasingly focused on reducing their carbon equivalent emissions throughout the value chain. SLB is applying its scale and expertise to new energy systems, accelerating the path to new zero and beyond.

SLB global CCS projects include onshore and offshore projects for various industries.

SLB to Assess Potential CCS Opportunities for Chevron Australia

SLB As part of Chevron Australia's commitment to exploring carbon capture and storage (CCS) potential in the Carnarvon Basin, offshore Western Australia, SLB will perform a three-dimensional seismic and storage assessment to identify new CCS opportunities in the Barrow and Dampier sub-basins. A global team of multidisciplinary experts will integrate decades of subsurface knowledge to screen and evaluate potential CCS sites at the regional scale.