SLB OneSubsea Awarded Major Subsea Systems Contract for Rovuma Basin Development

The award covers equipment and services, while a planned local base would support work for regional operators.

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Agreement with ExxonMobil Moçambique, Limitada supports development of LNG deepwater resources in Mozambique

HOUSTON--(BUSINESS WIRE)-- Global energy technology company SLB (NYSE: SLB) today announced that its OneSubsea™ joint venture has been awarded a contract by ExxonMobil Moçambique, Limitada, on behalf of its Area 4 partners, (ENH, CNPC, ENI, KOGAS and XRG), to deliver subsea production systems for the first phase of the offshore Rovuma LNG project in Mozambique.

SLB OneSubsea™ joint venture has been awarded a contract by ExxonMobil Moçambique, Limitada, on behalf of its Area 4 partners, (ENH, CNPC, ENI, KOGAS and XRG), to deliver subsea production systems for the first phase of the offshore Rovuma LNG project in Mozambique.

The contract scope includes the delivery of subsea trees, manifolds, umbilicals and associated control systems designed to support efficient production from the deepwater field. SLB OneSubsea will provide engineering, procurement, manufacturing, along with installation services, leveraging its experience in delivering subsea systems for complex deepwater developments worldwide.

"This award reflects our ability to deliver integrated subsea solutions that help customers accelerate development and maximize value from deepwater resources," said Mads Hjelmeland, chief executive officer, SLB OneSubsea. "The Rovuma project represents a significant opportunity for Mozambique’s growing LNG sector, and we look forward to continuing our long-standing relationship with ExxonMobil operations in Africa, bringing our proven technology and expertise to this important phase of the development and beyond."

In support of the project, SLB OneSubsea intends to establish a services base in Mozambique to serve operators across the region. The facility will create local training and employment opportunities, while supporting the development of regional supply chains.

Key points

• SLB OneSubsea has been awarded a subsea production systems contract by ExxonMobil Moçambique, Limitada for Rovuma LNG phase 1.
• The scope includes subsea trees, manifolds, umbilicals and control systems with installation support.
• The project supports deepwater production in Mozambique's expanding offshore sector.

About SLB

SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. 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 the new subsea era that leverages digital and technology innovation to optimize our customers’ oil and gas production, decarbonize subsea operations and unlock the large potential of subsea solutions to accelerate the energy transition. 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.

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; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; 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/20260916187961/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

Key Terms

lng technical

Liquefied natural gas (LNG) is natural gas that has been cooled into a liquid so it takes up far less space for transport and storage, like turning a bulky bundle into a compact package for shipping. Investors care because LNG enables gas trade across regions without pipelines, so changes in production, export capacity, shipping, or demand can quickly affect energy company revenues, infrastructure operators and commodity prices, amplifying both opportunity and risk.

subsea trees technical

Subsea trees are the groups of valves, sensors and connectors installed on the seabed at the top of an underwater oil or gas well to start, stop and measure flow—think of them as the valve and instrument pack for an underwater faucet. They matter to investors because their design, reliability and maintenance determine how much product a field can deliver, how often production is interrupted, the cost of repairs or replacements, and the safety and regulatory risks that can affect project cash flow and capital needs.

umbilicals technical

Umbilicals are bundled assemblies of tubes, wires and cables that connect offshore equipment on the seabed to surface platforms or control centers, delivering power, signals, and fluids needed to operate wells and subsea systems. Investors watch umbilical orders, deliveries and installation because they are critical components for starting and running offshore oil, gas and renewable projects—delays or cost overruns in these parts can push project timelines and affect revenue and capital outlays, much like a broken power cable can halt a factory.