- Revenue of $8.93 billion increased 4% sequentially and decreased 3% year on year
- GAAP EPS of $0.50 decreased 32% sequentially and 40% year on year
- EPS, excluding charges and credits, of $0.69 decreased 7% sequentially and 22% year on year
- Net income attributable to SLB of $739 million decreased 27% sequentially and 38% year on year
- Adjusted EBITDA of $2.06 billion was flat sequentially and decreased 12% year on year
- Cash flow from operations was $1.68 billion and free cash flow was $1.10 billion, including $153 million of acquisition-related payments
- Board approved quarterly cash dividend of $0.285 per share
HOUSTON–(BUSINESS WIRE)–SLB (NYSE: SLB) today announced results for the third-quarter 2025.
Third-Quarter Results
| (Stated in millions, except per share amounts) | |||||||||
| Three Months Ended | Change | ||||||||
| Sept. 30, 2025 |
Jun. 30, 2025 |
Sept. 30, 2024 |
Sequential | Year-on-year | |||||
| Revenue |
$8,928 |
$8,546 |
$9,159 |
4% |
-3% |
||||
| Income before taxes – GAAP basis |
$1,000 |
$1,285 |
$1,507 |
-22% |
-34% |
||||
| Income before taxes margin – GAAP basis |
11.2% |
15.0% |
16.5% |
-383 bps |
-525 bps |
||||
| Net income attributable to SLB – GAAP basis |
$739 |
$1,014 |
$1,186 |
-27% |
-38% |
||||
| Diluted EPS – GAAP basis |
$0.50 |
$0.74 |
$0.83 |
-32% |
-40% |
||||
| Adjusted EBITDA* |
$2,061 |
$2,051 |
$2,343 |
0% |
-12% |
||||
| Adjusted EBITDA margin* |
23.1% |
24.0% |
25.6% |
-92 bps |
-249 bps |
||||
| Pretax segment operating income* |
$1,626 |
$1,584 |
$1,902 |
3% |
-14% |
||||
| Pretax segment operating margin* |
18.2% |
18.5% |
20.8% |
-32 bps |
-255 bps |
||||
| Net income attributable to SLB, excluding charges & credits* |
$1,027 |
$1,016 |
$1,271 |
1% |
-19% |
||||
| Diluted EPS, excluding charges & credits* |
$0.69 |
$0.74 |
$0.89 |
-7% |
-22% |
||||
| Revenue by Geography | |||||||||
| International |
$6,916 |
$6,847 |
$7,425 |
1% |
-7% |
||||
| North America |
1,930 |
1,655 |
1,687 |
17% |
14% |
||||
| Other |
82 |
44 |
47 |
n/m |
n/m |
||||
|
$8,928 |
$8,546 |
$9,159 |
4% |
-3% |
|||||
|
SLB acquired ChampionX during the third quarter of 2025. Third-quarter 2025 results reflect two months of activity from the acquired ChampionX businesses, which contributed $579 million of revenue, $139 million of adjusted EBITDA and $108 million of pretax segment operating income. Excluding the impact of this acquisition, SLB’s third-quarter 2025 global revenue decreased 2% sequentially and 9% year on year; international third-quarter 2025 revenue decreased 1% sequentially and 9% year on year; and North America third-quarter 2025 revenue decreased 7% sequentially and 9% year on year. |
|||||||||
|
*These are non-GAAP financial measures. See sections titled “Charges & Credits”, “Divisions” and “Supplementary Information” for details. |
|||||||||
|
n/m = not meaningful |
|||||||||
|
(Stated in millions) |
|||||||||
| Three Months Ended | Change | ||||||||
| Sept. 30, 2025 |
Jun. 30, 2025 |
Sept. 30, 2024 |
Sequential | Year-on-year | |||||
| Revenue by Division | |||||||||
| Digital |
$658 |
$591 |
$638 |
11% |
3% |
||||
| Reservoir Performance |
1,682 |
1,691 |
1,823 |
-1% |
-8% |
||||
| Well Construction |
2,967 |
2,963 |
3,312 |
0% |
-10% |
||||
| Production Systems |
3,474 |
2,932 |
3,037 |
18% |
14% |
||||
| All Other |
397 |
583 |
554 |
-32% |
-28% |
||||
| Eliminations |
(250) |
(214) |
(205) |
n/m |
n/m |
||||
|
$8,928 |
$8,546 |
$9,159 |
4% |
-3% |
|||||
| Pretax segment operating income | |||||||||
| Digital |
$187 |
$153 |
$190 |
22% |
-2% |
||||
| Reservoir Performance |
312 |
314 |
367 |
-1% |
-15% |
||||
| Well Construction |
558 |
551 |
714 |
1% |
-22% |
||||
| Production Systems |
559 |
491 |
518 |
14% |
8% |
||||
| All Other |
96 |
155 |
188 |
-38% |
-49% |
||||
| Eliminations |
(86) |
(80) |
(75) |
n/m |
n/m |
||||
|
$1,626 |
$1,584 |
$1,902 |
3% |
-14% |
|||||
| Pretax segment operating margin | |||||||||
| Digital |
28.4% |
25.9% |
29.8% |
250 bps |
-135 bps |
||||
| Reservoir Performance |
18.5% |
18.6% |
20.1% |
-7 bps |
-159 bps |
||||
| Well Construction |
18.8% |
18.6% |
21.5% |
22 bps |
-273 bps |
||||
| Production Systems |
16.1% |
16.7% |
17.1% |
-66 bps |
-98 bps |
||||
| All Other |
24.2% |
26.7% |
34.0% |
-244 bps |
-975 bps |
||||
| Eliminations |
n/m |
n/m |
n/m |
n/m |
n/m |
||||
|
18.2% |
18.5% |
20.8% |
-32 bps |
-255 bps |
|||||
|
Digital and Production Systems third-quarter 2025 results reflect two months of activity from ChampionX, which contributed $20 million of Digital revenue and $575 million of Production Systems revenue. Excluding the impact of this acquisition, Digital third-quarter 2025 revenue increased 8% sequentially and was flat year on year, while Production Systems revenue decreased 1% sequentially and 5% year on year. |
|||||||||
|
Commencing in the third quarter of 2025, SLB began reporting its Digital business as a standalone Division and its Asset Performance Solutions (APS), Data Center Solutions and SLB Capturi businesses in the All Other category. Prior periods have been recast to conform to the current period presentation. |
|||||||||
|
n/m = not meaningful |
|||||||||
Resilience Amidst Evolving Market Dynamics
“The third quarter played out in line with our expectations as our revenue increased sequentially supported by two months’ additional ChampionX revenue, further growth in Digital and the resilient performance of our Core business. SLB improved revenue despite the backdrop of a fully supplied oil market, an uncertain geopolitical environment and subdued commodity prices.
“In this context, international markets — while facing challenges in some regions — are demonstrating resilience, with several countries across the Middle East and Asia continuing to show robust growth. Looking ahead, we expect OPEC+ production releases to support investment across many countries where SLB is well established,” said SLB Chief Executive Officer Olivier Le Peuch.
Production and Recovery Business Aligned to Enable Customers’ Changing Priorities
“As industry economics tighten, customers are increasingly prioritizing production and recovery solutions to offset decline by unlocking incremental barrels at the lowest possible cost. At the same time, they continue to accelerate the most critical FIDs and execute in-flight development projects.
“SLB has a differentiated opportunity to support customers on this journey — leveraging our subsurface expertise, production technology, portfolio integration and digital/AI capabilities — to unlock new value for mature assets and consequently expand our addressable market.
“ChampionX enhances our portfolio and underscores the value of expanding our presence in the less cyclical production market.
“I am confident in the position we are taking in the production and recovery market, and I look forward to deepening our collaboration with our customers to unlock more barrels. I am also excited by the progress we have made integrating the ChampionX team into SLB, and I am thankful for their performance and contribution this quarter,” said Le Peuch.
Digital Delivering Differentiated Growth and Margins
“Digital continues to transform the oil and gas industry, and this has been our fastest-growing business in recent years. We have been on a long journey to digitize the oilfield — from modeling and planning to operations and automation — recognizing that digital transformation is essential for unlocking the highest levels of efficiency, safety and sustainability in prospect selection, reservoir management and hydrocarbon recovery.
“By leveraging software, AI, data analytics, automation and IoT, we are unlocking productivity for geoscientists and engineers, driving a step change in efficiency and safety in operations, and supporting our customers to deliver better wells and higher-producing assets. As such, SLB Digital solutions are increasingly mission critical for our customers to stay ahead on innovation, efficiency and AI deployment.
“We are reporting Digital as a standalone division for the first time and are sharing details of the four revenue categories where SLB offers solutions for our customers: Platforms & Applications, Digital Operations, Digital Exploration and Professional Services.
“Our Digital business delivered revenue growth both sequentially and year on year. This high-margin and growing business is a true differentiator and reflects our industry leadership in this domain,” Le Peuch said.
International Markets to Lead Future Activity Rebound
“Looking ahead, it is more likely that the international markets will lead an activity rebound when supply and demand rebalance, supported by sustained investment for oil capacity, gas expansion projects and a constructive outlook for deepwater. SLB is well positioned to benefit from such a recovery.
“In the near term, we foresee revenue growth in the fourth quarter driven by the international markets, Digital and a full quarter of activity from the acquired ChampionX businesses,” Le Peuch concluded.
Other Events
During the quarter, SLB repurchased 3.2 million shares of its common stock for a total purchase price of $114 million. For the first nine-months of 2025, SLB repurchased a total of 60.0 million shares of its common stock for a total purchase price of $2.41 billion.
On July 16, 2025, SLB completed its acquisition of ChampionX. The combined portfolio, technology capabilities and digital leadership will position SLB to create value for its customers and stakeholders by increasing its exposure to the growing production and recovery market while delivering best-in-class workflow integration across production chemicals and artificial lift.
On October 16, 2025, SLB’s Board of Directors approved a quarterly cash dividend of $0.285 per share of outstanding common stock, payable on January 8, 2026, to stockholders of record on December 3, 2025.
Third-Quarter Revenue by Geographical Area
Third-quarter revenue of $8.93 billion increased 4% sequentially with international revenue increasing 1% and North America revenue increasing 17%. This reflects two months of activity from the acquired ChampionX businesses, which contributed revenue of $579 million, consisting of $387 million in North America and $171 million in the international markets. Excluding the impact of this acquisition, international third-quarter 2025 revenue declined 1% and North America third-quarter 2025 revenue declined 7% sequentially. International revenue slightly decreased due to the production interruption on the APS project in Ecuador and North America revenue declined due to the divestiture of the APS project in Canada.
|
(Stated in millions) |
|||||||||
| As reported | Three Months Ended | Change | |||||||
| Sept. 30, 2025 |
Jun. 30, 2025 |
Sept. 30, 2024 |
Sequential | Year-on-year | |||||
| North America |
$1,930 |
$1,655 |
$1,687 |
17% |
14% |
||||
| Latin America |
1,482 |
1,492 |
1,689 |
-1% |
-12% |
||||
| Europe & Africa* |
2,434 |
2,369 |
2,434 |
3% |
0% |
||||
| Middle East & Asia |
3,000 |
2,986 |
3,302 |
0% |
-9% |
||||
| Eliminations & other |
82 |
44 |
47 |
n/m |
n/m |
||||
|
$8,928 |
$8,546 |
$9,159 |
4% |
-3% |
|||||
| International |
$6,916 |
$6,847 |
$7,425 |
1% |
-7% |
||||
| North America |
$1,930 |
$1,655 |
$1,687 |
17% |
14% |
||||
|
*Includes Russia and the Caspian region |
|||||||||
|
n/m = not meaningful |
|||||||||
The following table and commentary are presented on a pro forma basis assuming that ChampionX was acquired on January 1, 2024.
|
(Stated in millions) |
|||||||||
| Pro forma | Three Months Ended | Change | |||||||
| Sept. 30, 2025 |
Jun. 30, 2025 |
Sept. 30, 2024 |
Sequential | Year-on-year | |||||
| North America |
$2,134 |
$2,219 |
$2,240 |
-4% |
-5% |
||||
| Latin America |
1,507 |
1,568 |
1,758 |
-4% |
-14% |
||||
| Europe & Africa* |
2,462 |
2,456 |
2,535 |
0% |
-3% |
||||
| Middle East & Asia |
3,032 |
3,075 |
3,398 |
-1% |
-11% |
||||
| Eliminations & other |
94 |
80 |
83 |
n/m |
n/m |
||||
|
$9,229 |
$9,398 |
$10,014 |
-2% |
-8% |
|||||
| International |
$7,001 |
$7,099 |
$7,691 |
-1% |
-9% |
||||
| North America |
$2,134 |
$2,219 |
$2,240 |
-4% |
-5% |
||||
|
*Includes Russia and the Caspian region |
|||||||||
|
n/m = not meaningful |
|||||||||
International
Pro forma revenue in Latin America of $1.51 billion decreased 4% sequentially. Higher offshore drilling activity in Guyana was more than offset by reduced APS revenue due to production interruption arising from a pipeline disruption in Ecuador and lower drilling and fracturing activity in Argentina.
Year on year, pro forma revenue declined 14%, primarily due to a significant reduction in land drilling activity in Mexico and reduced APS revenue in Ecuador.
Europe & Africa pro forma revenue of $2.46 billion was flat sequentially with improved activity in Sub-Saharan Africa and offshore Scandinavia being offset by lower activity in Europe and North Africa.
Year on year, pro forma revenue declined 3% as strong activity in North Africa, Europe and Azerbaijan was more than offset by reduced deepwater activity in offshore Angola, Central & East Africa.
Pro forma revenue in the Middle East & Asia of $3.03 billion decreased 1% sequentially as robust activity in Iraq, Oman, United Arab Emirates, Egypt, India, East Asia, Indonesia, China and Australia was more than offset by activity declines in Saudi Arabia.
Year on year, pro forma revenue declined 11% as higher revenue in the United Arab Emirates, Iraq, Kuwait, Oman and China was more than offset by significantly reduced activity in Saudi Arabia. Declines were also noted in Australia and East Asia.
North America
North America pro forma revenue of $2.13 billion decreased 4% sequentially. The decline stemmed from the absence of APS revenue of $97 million following the divestiture of the interest in the Palliser project in Canada, coupled with lower activity in U.S. land due to reduced rig count. These declines were partially offset by higher digital exploration offshore and increased revenue from data center solutions.
Year on year, pro forma revenue declined 5%, driven by the divestiture of the APS project in Canada, coupled with a sharp decline in U.S. land drilling activity, partially offset by growth in data center solutions.
Third-Quarter Results by Division
Digital
|
(Stated in millions) |
|||||||||
| Three Months Ended | Change | ||||||||
| Sept. 30, 2025 |
Jun. 30, 2025 |
Sept. 30, 2024 |
Sequential | Year-on-year | |||||
| Revenue | |||||||||
| International |
$500 |
$462 |
$509 |
8% |
-2% |
||||
| North America |
156 |
126 |
128 |
24% |
22% |
||||
| Other |
2 |
3 |
1 |
n/m |
n/m |
||||
|
$658 |
$591 |
$638 |
11% |
3% |
|||||
| Pretax operating income |
$187 |
$153 |
$190 |
22% |
-2% |
||||
| Pretax operating margin |
28.4% |
25.9% |
29.8% |
250 bps |
-135 bps |
||||
| Adjusted EBITDA* |
215 |
186 |
229 |
16% |
-6% |
||||
| Adjusted EBITDA margin* |
32.7% |
31.5% |
35.9% |
123 bps |
-322 bps |
||||
|
*These are non-GAAP financial measures. See reconciliation in the section”Supplementary Information” for details. |
|||||||||
|
n/m = not meaningful |
|||||||||
|
(Stated in millions) |
|||||||||
| Three Months Ended | Change | ||||||||
| Revenue | Sept. 30, 2025 |
Jun. 30, 2025 |
Sept. 30, 2024 |
Sequential | Year-on-year | ||||
| Platforms & Applications |
$273 |
$266 |
$262 |
3% |
4% |
||||
| Digital Operations |
131 |
94 |
89 |
39% |
47% |
||||
| Digital Exploration |
80 |
63 |
111 |
28% |
-28% |
||||
| Professional Services |
174 |
168 |
176 |
3% |
-1% |
||||
|
$658 |
$591 |
$638 |
11% |
3% |
|||||
| Digital third-quarter 2025 results include two months of activity from ChampionX, which contributed $20 million of Digital revenue. | |||||||||
Digital revenue of $658 million increased 11% sequentially driven by a robust increase in Digital Operations revenue which reflects the impact of ChampionX as well as organic growth, a strong increase in Digital Exploration revenue, and higher revenue in Platforms & Applications.
Year on year, Digital revenue increased 3% driven by strong growth in Digital Operations revenue, reflecting both organic growth and the impact of ChampionX as well as higher revenue in Platforms & Applications, partially offset by a decline in Digital Exploration revenue.
Annual recurring revenue (ARR) for the Digital Division as of September 30, 2025, was $926 million compared to $869 million for the same period last year.
Digital pretax operating margin of 28% expanded 250 basis points (bps) sequentially. Profitability improved due to strong Digital Exploration activity, robust revenue growth from Digital Operations and higher Platforms & Applications revenue.
Year on year, pretax operating margin contracted 135 bps due to substantially lower Digital Exploration revenue, partially mitigated by improved profitability in Digital Operations and Platforms & Applications.
Please refer to the section “Supplementary Information” (Question 11) for description of the revenue categories comprising the Digital Division. Please refer to Question 12 for the revenue, pretax operating income and adjusted EBITDA of the Digital Division for the first nine months of 2025 and first nine months of 2024. For the definition of ARR, please refer to Question 13.
Reservoir Performance
|
(Stated in millions) |
|||||||||
| Three Months Ended | Change | ||||||||
| Sept. 30, 2025 |
Jun. 30, 2025 |
Sept. 30, 2024 |
Sequential | Year-on-year | |||||
| Revenue | |||||||||
| International |
$1,536 |
$1,541 |
$1,676 |
0% |
-8% |
||||
| North America |
143 |
148 |
145 |
-3% |
-1% |
||||
| Other |
3 |
2 |
2 |
n/m |
n/m |
||||
|
$1,682 |
$1,691 |
$1,823 |
-1% |
-8% |
|||||
| Pretax operating income |
$312 |
$314 |
$367 |
-1% |
-15% |
||||
| Pretax operating margin |
18.5% |
18.6% |
20.1% |
-7 bps |
-159 bps |
||||
| Adjusted EBITDA* |
422 |
421 |
464 |
0% |
-9% |
||||
| Adjusted EBITDA margin* |
25.1% |
24.9% |
25.4% |
22 bps |
-34 bps |
||||
|
*These are non-GAAP financial measures. See reconciliation in the section”Supplementary Information” for details. |
|||||||||
|
n/m = not meaningful |
|||||||||
Reservoir Performance revenue of $1.68 billion declined 1% sequentially as higher activity in Europe & Africa was more than offset by lower revenue in the Middle East & Asia, mainly due to lower intervention and stimulation activity in Saudi Arabia.
Year on year, revenue dropped 8%, primarily due to lower activity in Saudi Arabia and Mexico. These decreases were partially mitigated by robust activity in Argentina, United Arab Emirates, Kuwait and Qatar.
Reservoir Performance pretax operating margin of 19% was essentially flat sequentially and contracted 159 bps year on year due to lower profitability in evaluation and intervention.
Well Construction
|
(Stated in millions) |
|||||||||
| Three Months Ended | Change | ||||||||
| Sept. 30, 2025 |
Jun. 30, 2025 |
Sept. 30, 2024 |
Sequential | Year-on-year | |||||
| Revenue | |||||||||
| International |
$2,371 |
$2,394 |
$2,675 |
-1% |
-11% |
||||
| North America |
527 |
512 |
581 |
3% |
-9% |
||||
| Other |
69 |
57 |
56 |
n/m |
n/m |
||||
|
$2,967 |
$2,963 |
$3,312 |
0% |
-10% |
|||||
| Pretax operating income |
$558 |
$551 |
$714 |
1% |
-22% |
||||
| Pretax operating margin |
18.8% |
18.6% |
21.5% |
22 bps |
-273 bps |
||||
| Adjusted EBITDA* |
728 |
720 |
875 |
1% |
-17% |
||||
| Adjusted EBITDA margin* |
24.5% |
24.3% |
26.4% |
25 bps |
-189 bps |
||||
|
*These are non-GAAP financial measures. See reconciliation in the section “Supplementary Information” for details. |
|||||||||
|
n/m = not meaningful |
|||||||||
Well Construction revenue of $2.97 billion was flat sequentially. Higher revenue in offshore Guyana and North America, coupled with higher land activity in Iraq, Oman and Asia, were offset by declines in drilling activity in Saudi Arabia, Argentina, Qatar and United Arab Emirates.
Year on year, revenue fell 10%, driven by a broad reduction in drilling activity across Mexico, Saudi Arabia, Namibia, North America and Asia. These decreases were partially offset by stronger performance in the United Arab Emirates, Guyana, North Africa, Iraq and Kuwait.
Well Construction pretax operating margin of 19% was up 22 bps sequentially but declined 273 bps year on year. Margin compression year on year stemmed from the widespread activity reductions in North America and several international markets.
Production Systems
|
(Stated in millions) |
|||||||||
| As reported | Three Months Ended | Change | |||||||
| Sept. 30, 2025 |
Jun. 30, 2025 |
Sept. 30, 2024 |
Sequential | Year-on-year | |||||
| Revenue | |||||||||
| International |
$2,440 |
$2,243 |
$2,373 |
9% |
3% |
||||
| North America |
1,008 |
$685 |
$657 |
47% |
54% |
||||
| Other |
26 |
$4 |
$7 |
n/m |
n/m |
||||
|
$3,474 |
$2,932 |
$3,037 |
18% |
14% |
|||||
| Pretax operating income |
$559 |
$491 |
$518 |
14% |
8% |
||||
| Pretax operating margin |
16.1% |
16.7% |
17.1% |
-66 bps |
-98 bps |
||||
| Adjusted EBITDA* |
690 |
582.137 |
610 |
18.5% |
13% |
||||
| Adjusted EBITDA margin* |
19.9% |
19.9% |
20.1% |
0 bps |
-22 bps |
||||
|
*These are non-GAAP financial measures. See reconciliation in the section”Supplementary Information” for details. |
|||||||||
|
n/m = not meaningful |
|||||||||
Production Systems as-reported revenue of $3.47 billion increased 18% sequentially and 14% year on year, reflecting two months of activity from the acquired ChampionX production chemicals and artificial lift businesses, which contributed $575 million of revenue and pretax operating income of $106 million. Excluding the impact of this acquisition, Production Systems third-quarter 2025 revenue decreased 1% sequentially and 5% year on year.
Production Systems pretax operating margin of 16% contracted 66 bps sequentially and 98 bps year on year. The sequential margin contraction was primarily driven by an unfavorable geographical mix in completions and lower subsea margins. The year-on-year decline was driven by an unfavorable geographic mix primarily impacting surface production systems and completions. These declines were partially offset by the accretive margin contribution from ChampionX.
The following table and commentary are presented on a pro forma basis assuming that ChampionX was acquired on January 1, 2024.
|
(Stated in millions) |
|||||||||
| Pro forma | Three Months Ended | Change | |||||||
| Sept. 30, 2025 |
Jun. 30, 2025 |
Sept. 30, 2024 |
Sequential | Year-on-year | |||||
| Revenue | |||||||||
| International |
$2,527 |
$2,496 |
$2,639 |
1% |
-4% |
||||
| North America |
1,211 |
1,247 |
1,206 |
-3% |
0% |
||||
| Other |
36 |
38 |
42 |
n/m |
n/m |
||||
|
$3,774 |
$3,780 |
$3,887 |
0% |
-3% |
|||||
Production Systems pro forma revenue of $3.77 billion was flat sequentially. Increased sales of valves and production chemicals was offset by lower sales of completions.
Year on year, pro forma revenue declined 3% due to decreased sales of subsea production systems, completions and surface production systems, partially offset by higher sales of artificial lift and production chemicals.
All Other
Commencing in the third quarter of 2025, SLB began reporting its APS, Data Center Solutions and SLB Capturi in the All Other category. Prior periods have been recast to conform to the current period presentation.
Revenue of $397 million declined 32% sequentially and 28% year on year due to lower APS revenue following the divestiture of the interest in the Palliser asset in Canada, and the full month of production interruption arising from the pipeline disruption in Ecuador. These revenue declines were partially offset by higher Data Center Solutions revenue, which grew 26% sequentially and 98% year on year.
Pretax operating income of $96 million declined both sequentially and year on year due to lower APS revenue following the divestiture of the APS project in Canada and the production interruption in Ecuador.
Quarterly Highlights
CORE
Contract Awards
SLB continues to win new contract awards that align with SLB’s strengths in the Core. Notable highlights include the following:
- Offshore Brazil, SLB was awarded a major contract by Petrobras to provide services and technology for up to 35 ultra-deepwater wells in the strategically important Santos Basin. As part of its project scope, SLB will deploy advanced electric completions technologies and digital solutions that deliver precise, real-time production intelligence and improved reservoir management to optimally produce these valuable and hard-to-access resources.
- Offshore Norway, SLB OneSubsea™ was awarded an engineering, procurement and construction (EPC) contract by Equinor for a 12-well, all-electric subsea production system in the Fram Sør field. The award follows a collaborative, year-long front-end engineering design phase, where Equinor and SLB OneSubsea jointly matured the project, culminating in the development plan and FID. As part of the resulting EPC scope, SLB OneSubsea will deliver four subsea templates and 12 all-electric subsea trees, eliminating the need for hydraulic fluid supplied by the host platform and keeping topside modifications to a minimum.
- In Uzbekistan, Yangi Kon, the project office under the Reconstruction and Development Fund, awarded SLB a contract for integrated well construction. The scope includes drilling the country’s deepest high-pressure, high-temperature well, targeting a total depth of 7,500 meters in the fourth quarter of 2025. SLB will provide the rig and deliver key services, including directional drilling, logging while drilling, wireline and testing, cementing, drilling and completions fluids, and wellheads. The project also covers all necessary infrastructure, such as access roads and water wells.
- In Colombia, SLB, through the recently acquired ChampionX, was awarded a six-year contract by Ecopetrol to deploy Oil Lift™ technology. Under this agreement, SLB will be the first call provider for progressing cavity pumps, driveheads and rod locks. This award reflects the superior quality and reliability of SLB artificial lift solutions, which were key factors in earning Ecopetrol’s confidence.
Contacts
Investors
James R. McDonald — SVP, Investor Relations & Industry Affairs, SLB
Joy V. Domingo — Director of Investor Relations, SLB
Tel: +1 (713) 375-3535
Media
Josh Byerly — SVP of Global Communications, SLB
Moira Duff — Director of External Communications, SLB
Tel: +1 (713) 375-3407
