HOUSTON, November 18, 2025 — Global energy technology company SLB (NYSE: SLB) today announced the award of a contract by bp to its OneSubsea™ joint venture for a subsea boosting system in the greenfield development of the Tiber project, located in the deepwater U.S. offshore region.

This engineering, procurement and construction (EPC) contract for Tiber comes in close succession to the award of a sister subsea boosting system for bp’s Kaskida development. Both projects — which target prolific Paleogene reserves — leverage the same supplier-led, standardized high-pressure subsea pump system solution.

“We look forward to helping bp realize even more value from their Paleogene developments,” said Mads Hjelmeland, CEO at SLB OneSubsea. “We are seeing more and more operators adopt subsea boosting strategies that free up topside space and reduce power requirements.”

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 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.com.

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