SLB Enters Collaboration Agreement to Accelerate New Digital Solutions

Key Terms

agentic ai technical

Agentic AI refers to computer systems that can make their own decisions and take actions without needing someone to tell them what to do each time. It's like giving a robot a degree of independence to solve problems or achieve goals on its own, which matters because it could change how we work and interact with technology in everyday life.

open data technical

Open data is factual information that is freely available to anyone to access, use and share without restrictive barriers, often provided in a clear, machine-readable form. For investors it matters because it reduces information gaps—like giving everyone the same public map—so analysts can verify claims, spot trends, build better models, and compare companies or markets more quickly and reliably.

upstream operations technical

Upstream operations are the activities involved in finding and getting raw natural resources out of the ground, such as exploring for oil or gas and drilling or mining to extract them. Investors care because these activities determine how much product a company can produce and when, require large upfront spending and carry technical and geological risk, and therefore strongly influence future revenue, costs, and stock value—think of it as the hunting and harvesting stage for a resource-based business.

subsurface technical

Subsurface means the ground and everything beneath the topsoil — rock, soil layers, groundwater and any buried structures or resources. For investors, subsurface conditions are like the hidden part of an iceberg: they can hide valuable resources (minerals, oil, geothermal heat) or unexpected problems (contamination, unstable ground, costly remediation) that affect project costs, permit approvals, timelines and long‑term asset value.

HOUSTON--(BUSINESS WIRE)-- Global energy technology company SLB (NYSE: SLB) signed a strategic collaboration agreement with Shell to develop digital and AI solutions that drive measurable performance and efficiency gains across upstream operations for the company and the wider industry.

The collaboration has the ambition to develop agentic AI-powered solutions that will accelerate and amplify the capabilities of technical experts and decision makers. The aim is to develop and deploy an open data and AI infrastructure that unifies data and workflows across subsurface, well construction and production in a secure digital environment, using SLB’s Lumi™ data and AI platform.

The collaboration has the ambition to develop agentic AI-powered solutions that will accelerate and amplify the capabilities of technical experts and decision makers. The aim is to develop and deploy an open data and AI infrastructure that unifies data and workflows across subsurface, well construction and production in a secure digital environment, using SLB’s Lumi™ data and AI platform.

“The energy industry is being reshaped by digital and AI,” said Rakesh Jaggi, president of SLB’s digital business. “Working with industry leaders like Shell enables us to accelerate development of advanced digital and agentic AI solutions that are changing how our industry works through automation and autonomy to generate value right across upstream, from planning through operations.”

The collaboration represents a long-standing relationship between the companies. Earlier this year, SLB announced a technical partnership to deploy its Petrel™ subsurface software across Shell’s assets worldwide to standardize infrastructure and workflows and accelerate scalable digital solutions, helping to improve cost operating efficiencies. It will help inform Shell’s digital strategy and technology roadmap, promote mutual learning to support Shell’s broader digital transformation, and contribute to the development of digital solutions that are commercially viable and broadly applicable across the industry.

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.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251211832051/en/

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

Source: SLB