A proposed mega joint venture between SLB, Subsea7 and Aker Solutions cleared regulatory review and is moving toward a Q4 2023 closing has been secured. The joint venture is planned as a milestone in subsea production economics by helping customers unlock reserves, reduce time to first oil, lower development costs and achieve decarbonization goals.

The three companies will bring together deep reservoir domain and engineering design expertise, extensive field-proven subsea production and processing technology portfolios, world-class manufacturing scale and capabilities, and a comprehensive suite of life-of-field solutions to customers around the world.

Following the clearance by antitrust authorities in Brazil, all regulatory approvals needed for closing have been secured, including those by Angola, Mozambique, Australia, Norway, the United Kingdom and the United States. SLB, Subsea7 and Aker Solutions will continue to work to satisfy the remaining conditions and target closing before the end of the year.

“The new data will provide additional coverage of several exciting leads in the east of the basin that were identified on our CB21 and legacy Mobil datasets. “Initial field processing of the seismic data demonstrates structural closure at multiple target intervals across a number of leads in the Central Fairway and Basin Margin play. “Following the full processing and interpretation of the new data we are aiming to mature those leads and add to our material prospect portfolio as candidates for future exploration drilling.