HOUSTON, February 17, 2026 – Global energy technology company SLB (NYSE: SLB) announced today that its OneSubsea™ joint venture has been awarded an engineering, procurement and construction (EPC) contract by Equinor to upgrade the subsea compression system for the Gullfaks field in the Norwegian North Sea.

Under the contract, SLB OneSubsea will deliver two next-generation compressor modules to replace the units originally supplied in 2015 as part of the world’s first multiphase subsea compression system. The upgraded modules will increase differential pressure and flow capacity, enhancing recovery and extending field life. Installation within the existing subsea infrastructure will minimize downtime and reduce overall campaign costs.

“This award reflects the strength of our long-standing collaboration with Equinor,” said Andreas Fjellbirkeland, vice president of Processing Systems, SLB OneSubsea. “By upgrading the existing subsea compression system with next-generation technology, we are supporting Equinor’s long-term recovery strategy for Gullfaks with a more efficient solution to help unlock additional capacity and maximize field recovery.”

Subsea gas compression offers advantages over conventional topside solutions, including reduced energy consumption, more efficient use of topside facilities, and lower CO2 emissions over the system’s lifetime.

Key points

• Equinor has awarded SLB OneSubsea an EPC contract to upgrade the Gullfaks multiphase subsea compression system.
• The project delivers two next generation compressor modules to replace the original 2015 units.
• The upgraded modules will increase differential pressure and flow capacity, enabling higher recovery and extended field life.
• Subsea gas compression provides efficiency and emissions advantages over conventional topside solutions.

About SLB

SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About SLB OneSubsea

SLB OneSubsea is driving a new subsea era leveraging digital and technology innovation to optimize our customers’ oil and gas production, reduce emissions in subsea operations, and unlock the large potential of subsea solutions to shape a sustainable energy future. SLB OneSubsea is a joint venture backed by SLB, Aker Solutions, and Subsea7 headquartered in Oslo and Houston, with 10,000 employees across the world. Find out more at onesubsea.slb.com.

Media

Josh Byerly – SVP of Global Communications
Moira Duff – Director of External Communications
SLB
Tel: +1 (713) 375-3407
Email: media@slb.com

Investors

James R. McDonald – SVP of Investor Relations & Industry Affairs
Joy V. Domingo – Director of Investor Relations
SLB
Tel: +1 (713) 375-3535
Email: investor-relations@slb.com

Cautionary Statement Regarding Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.