HOUSTON, January 30, 2020—Schlumberger announced today an award to Subsea Integration Alliance of an exclusive contract by Equinor for the front-end engineering design (FEED) on its Bacalhau (formerly Carcará) project offshore Brazil. The contract scope brings together field development planning, project delivery and total life cycle solutions under an extensive technology and services portfolio.
The contract is based on a two-step award. The FEED and preinvestment are starting now, with an option for the execution phase under a lump-sum turnkey setup that includes engineering, procurement, construction and installation for the entire subsea umbilicals, risers and flowlines (SURF) and subsea production systems (SPS) scope. Option for the contract is subject to Equinor's planned investment decision for the Bacalhau project late 2020. The field development will include 19 wells. Furthermore, Subsea Integration Alliance will also be responsible for life-of-field support, representing a fully integrated contract model across the entire field life cycle, from engineering and early engagement to aftermarket services.
"We are extremely pleased that Subsea Integration Alliance has been awarded the FEED contract for the Bacalhau project," said Henning Berg, CEO, Subsea Integration Alliance LLC. "The award comes on the back of a design competition where we have demonstrated our ability to maximize asset value through our integrated field development service. This involves dynamically connecting reservoir, production and economic models with well, subsea infrastructure and topside facilities in a single, collaborative environment using the Subsea Planner* collaborative field development solution. Through its tools and methodologies, Subsea Integration Alliance helps uncover the true value of an asset while seamlessly unifying planning and execution."
"The award to Subsea Integration Alliance of the FEED contract for the Bacalhau project exemplifies our commitment to in-country value for Brazil, enabling regional efficiency and performance while increasing local content and alignment with Equinor's strategic priorities," said Don Sweet, president, OneSubsea.
The Bacalhau Field is located 185 km from the coast of the municipality of Ilhabela/SP, in the state of São Paulo, in a water depth of 2,050 m. Bacalhau is Brazil's first integrated SPS and SURF project. The award is a significant endorsement of Subsea Integration Alliance's strong position within the integrated market, our long-established local presence in Brazil and a commitment to support Equinor's strategy of long-term growth in the region.
Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. With product sales and services in more than 120 countries and employing approximately 105,000 people who represent over 170 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 sustainably.
Schlumberger Limited has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.92 billion in 2019. For more information, visit www.slb.com.
Subsea Integration Alliance is a non-incorporated strategic global alliance between Subsea 7 and OneSubsea®, the subsea technologies, production and processing systems division of Schlumberger, bringing together field development planning, project delivery and total lifecycle solutions under an extensive technology and services portfolio. As one team, Subsea Integration Alliance amplifies subsea performance by helping customers to select, design, deliver and operate the smartest subsea projects. This eliminates costly revisions, avoids delays and reduces risk across the life of field. For more information, visit www.subseaintegrationalliance.com.
*Mark of Schlumberger or Schlumberger companies.
For further information, contact:
Simon Farrant – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office: +1 (713) 375-3535