In an exclusive interview, the CEO of SLB OneSubsea discussed the company's operations, strategic outlook, and market developments across key global regions.

Business Continuity Amid Geopolitical Volatility

Planning and customer dialogue continue at a normal pace despite Middle East volatility. The long-cycle nature of deepwater projects helps manage such short-term disruptions, as activities are not typically impacted. The company monitors logistics and supply chain developments while executing its backlog and delivering on commitments. Having access to the resources and wide supply chain of SLB, a major oilfield contractor, provides an advantage in managing global tariffs.

Regional Growth Prospects

The deepwater sector is foreseen to see continued growth into 2026. Africa is expected to have an uptick in activity due to upcoming greenfield developments. Asia presents significant potential, particularly for gas developments and both greenfield and marginal asset developments, and should not be underestimated. In the North Sea, despite challenges like UK windfall taxes and projected production declines, the company maintains a strong presence in Norway and the UK and sees longevity, though it may require new ways of working and technologies. The US Gulf is proceeding "full speed ahead," with active involvement in subsea boosting and processing, particularly for high-pressure, high-temperature projects.

Key Projects and Technological Focus

In the US Gulf, SLB OneSubsea has subsea boosting contracts with BP for the major Kaskida and Tiber developments in the Paleogene play. These projects will utilize 20k technology designed for 20,000 psi reservoir pressure and are proceeding as planned. The Paleogene is an exciting area, with increased development activity supporting the company's high-pressure, high-temperature offerings. The successful delivery of the subsea boosting system for Chevron’s Anchor platform, the first 20k project in the Paleogene, and equipment for the Jack-St Malo development have spurred more operator interest in subsea boosting technology.

Strategic Agreements and Partnerships

The company could pursue more strategic, multi-project agreements with customers, similar to existing deals with Equinor and BP, due to the value they deliver. Partnerships are being expanded, including a planned acquisition of the subsea business of Norway's Envirex Group to deepen collaboration, increase efficiency, and reduce costs. Furthermore, Subsea7's merger with Saipem is not expected to affect the OneSubsea alliance, which remains intact and a source of optimism.