Press Release

Agreement supports Vår Energi's ambition to reduce time to first oil, building on multi-discipline, collaborative well planning workflows that reduce cycle times from months to days

HOUSTON--(BUSINESS WIRE)--May 28, 2026-- Global energy technology company SLB (NYSE: SLB) today announced an expanded collaboration with Vår Energi to scale well planning and integrated field development planning across its Norwegian Continental Shelf operations. With collaborative well planning already reducing cycle times from months to days and integrated field development planning expected to support similar benefits, the expanded deployment is designed to support faster, more consistent decision-making as operators work to sustain production from mature offshore assets while managing increasing development complexity.

As part of the expanded collaboration, Vår Energi is deploying the Delfi™ digital platform to connect exploration, subsurface evaluation, well planning, subsea design, and field development planning, in a cloud-native environment. By enabling teams to work concurrently using shared data and standardized workflows, the approach reduces handoffs and rework and supports more consistent, timely decision-making from early evaluation through development planning.

"As offshore developments become more complex, performance increasingly depends on how quickly teams can align, evaluate options and make decisions using trusted data," said Rakesh Jaggi, president of SLB's digital business. "By bringing disciplines together in an integrated digital environment, operators can shorten planning cycles and improve the speed and quality of decisions needed to progress opportunities, including marginal subsea tiebacks."

The expanded collaboration reflects a broader shift toward cloud-based planning approaches that help operators reduce time between key development milestones, improve coordination across disciplines and maximize value from existing resources in mature basins.

Key Points:

• SLB and Vår Energi expanded their collaboration to scale collaborative well and field development planning worflows across Vår Energi's Norwegian Continental Shelf operations, accelerating field development decisions and supporting their ambition to consistently reduce time to first oil.
• Industry-first, multi-disciplinary, collaborative well planning shows a proven reduction in cycle times from months to days and integrated field development planning expected to support similar benefits.
• Under the agreement, Vår Energi is deploying the Delfi™ digital platform to connect exploration, subsurface evaluation, well planning, subsea design, and field development planning in a cloud-native environment.
• Standardized, integrated workflows enable concurrent cross-discipline work, reducing handoffs and rework while improving timely, trusted-data decisions for mature offshore assets, including marginal subsea tiebacks.

About SLB

SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. 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.

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.

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Media
Josh Byerly – SVP of Global 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