Schlumberger

Statoil Awards OneSubsea Production System Contract for the Utgard Development, Norwegian North Sea

Technology collaboration addresses challenges for field development

HOUSTON, January 19, 2017—OneSubsea, a Schlumberger company, today announced it has been awarded an engineering, procurement and construction contract by Statoil to supply the subsea production system for the Utgard gas and condensate discovery in the North Sea.

The scope of the contract includes a subsea template manifold system, two subsea wellheads and vertical monobore subsea trees, production control system, and associated intervention and workover tooling. This follows the execution of a master service agreement with Statoil in January 2016.

“We look forward to supporting Statoil in the commercial development of Utgard through the delivery of the subsea production system,” said Mike Garding, president, OneSubsea, Schlumberger. “In collaboration with Statoil, we are developing a new subsea wellhead system that is particularly suitable for the fairly shallow waters in the Utgard field; and we are committed to supporting Statoil in their drive to break the cost curve.”

OneSubsea and Statoil worked together to qualify a vertical monobore subsea tree as a standardized solution for Statoil’s subsea developments. To demonstrate our ongoing commitment to Norway, the vertical trees, which are part of the contract deliverables, will be assembled and tested at the OneSubsea facility in Horsøy, Norway.

For more information, visit www.onesubsea.slb.com.

About Schlumberger

Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.

Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $35.47 billion in 2015. For more information, visit www.slb.com.

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For further information, contact:

Investors
Simon Farrant – Schlumberger Limited, Vice President of Investor Relations
Joy V. Domingo – Schlumberger Limited, Manager of Investor Relations
Tel: +1 713 375 3535
investor-relations@slb.com

Media
Susan Ganz – Schlumberger, Public Relations Manager-Western Hemisphere
Tel: +1 713 939 2997
sganz1@slb.com


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