SLB, Aker Solutions and Subsea7 announced the final closing of a previously announced joint venture. The new business, which will adopt the OneSubsea name, will drive innovation and efficiency in subsea production by helping customers unlock reserves and reduce cycle time.
OneSubsea now comprises SLB’s and Aker Solutions’ subsea businesses, which include a subsea production and processing technology portfolio and strengthened R&D capabilities.
“The offshore market is demonstrating a sustained resurgence as operators across the world look to accelerate development cycle times and increase the productivity of their offshore assets,” said SLB CEO Olivier Le Peuch. “With its combined technology portfolio that leverages digital innovation, OneSubsea is ideally placed to support customers in their drive to improve asset performance while increasing energy efficiency and reducing CO2 emissions.”