HOUSTON, July 17, 2017—OneSubsea, a Schlumberger company, today announced the award of an engineering, procurement, construction, installation and commissioning (EPCIC) contract for a subsea multiphase boosting system by TAQA for the Otter field in the UK North Sea.

Through the EPCIC contract, OneSubsea and its Subsea Integration Alliance partner, Subsea 7, will supply and install a subsea multiphase boosting system including topside and subsea controls, as well as associated life-of-field services. The project will result in a 30-km subsea tieback to the TAQA-operated North Cormorant platform. This will be the longest subsea multiphase boosting tieback in the UK North Sea.

“This fit-for-purpose subsea boosting system will improve TAQA’s ultimate recovery from an existing asset, through a capital-efficient long tieback,” said Mike Garding, president, OneSubsea, Schlumberger. “We look forward to working with TAQA to maximize the full value of the Otter field.”

OneSubsea and Subsea 7 will deliver a turnkey integrated project from design through supply, installation and commissioning.

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 $27.81 billion in 2016. For more information, visit www.slb.com.

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OneSubsea is a mark of Schlumberger.

For further information, contact:

Investors
Isabel Green – Subsea 7, Investor Relations Director
Tel: +44 (0) 20 8210 5568
isabel.green@subsea7.com

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
Michelle Wainwright – Subsea 7, Corporate Communications Manager
Tel: +44 (0) 1224 526570
Mobile: +44 (0) 7876778370
michelle.wainwright@subsea7.com

Joao Felix – Schlumberger Limited, Director of Corporate Communication
Tel: +1 (713) 375-3535
communication@slb.com