Equinor signs collaboration agreement with SLB OneSubsea, Subsea7

May 2, 2024
Companies commence work on Wisting, Bay Du Nord projects.

Offshore staff

HOUSTON – SLB has announced the signing of a new long-term strategic collaboration agreement between Equinor ASA and the Subsea Integration Alliance (which comprises OneSubsea and Subsea7). 

The agreement paves the way for exploratory work to begin on two projects: the Wisting field offshore Norway and Bay Du Nord, off Newfoundland and Labrador, Canada.

The companies say that the agreement will enable early information sharing, technology innovation and other collaborative benefits critical to unlocking more subsea projects by making them economically viable.

The agreement is said to pave the way for collaboration to begin immediately on early, joint concept studies for these two offshore projects. Under the same agreement, any resulting EPCI execution would be directly awarded to the alliance, if a final investment decision (FID) is made.

Wisting is located in the Barents Sea, offshore Norway. Bay Du Nord is approximately 500 km northeast of St John’s, Newfoundland and Labrador, Canada. 

Trond Bokn, senior vice president for Project development in Equinor, said: “Equinor is working hard to improve and mature the Wisting and Bay du Nord projects. Selecting the supplier at this early stage, is a new way of approaching project development for us, and a vote of confidence to Subsea Integration Alliance. We look forward to developing concepts together, in a process with full visibility on profitability, and joint efforts to make these challenging projects sanctionable.”