SLB Signs Subsurface Technology Partnership Agreement with INEOS Energy

7 September 2023

SLB (NYSE: SLB) has signed a subsurface technology partnership with INEOS Energy, the energy division of INEOS; a global chemical and manufacturing company. INEOS Energy will partner with SLB’s Performance Centre in Aberdeen, to collaborate and innovate subsurface technologies, including AI capabilities, to help it drive operational performance for continued growth, new acquisitions, and Carbon Capture and Storage (CCS).  

“This subsurface technology agreement is an important milestone for INEOS Energy supporting our continued organic growth plans,” said Abhi Kohok, Subsurface Director at INEOS Energy.  “We are excited to work closely with the SLB Performance Centre to build on their extensive subsurface technologies, the Delfi™ digital platform and advances in domain centric AI. Together, this integration will position INEOS to maximize recoverable reserves and realize its growth ambitions, all with a lower carbon footprint.” 
 
Under the agreement, INEOS Energy will integrate the SLB Delfi digital platform into its oil and gas operations, especially subsurface, wells, transport and monitoring. Delfi will seamlessly integrate into current assets and new acquisitions, a critical element of the company’s emissions-reducing CCS strategy for a sustainable low carbon future. 

“The Performance Centre model of collaboration is another example of SLB leadership in oil and gas innovation,” said Wallace Pescarini, president of SLB’s Offshore Atlantic basin. “The Performance Centre is part of the SLB long-term strategy to produce lower carbon energy through collaboration and partnership models with our customers. We welcome INEOS and look forward to continued innovation.”  

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. 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 INEOS Energy

INEOS Energy is the energy division of INEOS, a global chemical, manufacturing, and energy company. INEOS comprises of 36 businesses, spanning across 194 sites and 29 countries throughout the world. INEOS Energy was established in 2020 to oversee the company’s growing portfolio of energy related businesses. INEOS Energy produces and trades oil, gas, power, liquefied natural gas (LNG), and carbon credits. This activity is supported by their investments in low carbon technologies, which are crucial in sustaining their business through the energy transition. INEOS has pledged to reduce its carbon footprint and achieve net-zero emissions by 2050. Find out more at ineos.com.

Media

Moira Duff - Director of External Communication
Tel: +1 (713) 375-3407
Email: [email protected]

Investors

James R. McDonald – Senior Vice President of Investor Relations and Industry Affairs
Joy V. Domingo – Director of Investor Relations
Tel: +1 (713) 375-3535
Email: [email protected]

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.

 

Source: slb.com