bp: stock up as it awards contract to SLB

(CercleFinance.com) - SLB announced on Tuesday that it has won a major gas contract from bp in Trinidad and Tobago as part of its commercial alliance with Norwegian group Subsea 7.


The former Schlumberger said that the contract covers the engineering, procurement, construction and installation (EPCI) of subsea production and tie-in systems for the Cypre project.

OneSubsea, a subsidiary of SLB, will provide its horizontal subsea trees, tie-in, distribution and control systems and maintenance services.

With deliveries scheduled from 2024, this is the first integrated EPCI contract that Subsea Integration Alliance, the partnership between SLB and Subsea 7, has won from bp.

bp shares are currently up 6% on this news.


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