Subsea 7 and Schlumberger poised to form joint venture

Subsea 7 and Schlumberger poised to form joint venture

Subsea service provider Subsea 7 and oilfield services company Schlumberger have entered into exclusive negotiations to form a joint venture, building on the Subsea Integration Alliance the two companies formed in 2015.

According to Subsea 7, the 50-50 joint venture will further strengthen front end engineering, design and execution of integrated projects, and build on the expertise from both companies to create a unique life of field offering that includes autonomous subsea technology, digitally enabled remote surveillance and production monitoring, and inspection, maintenance and repair services.

“This joint venture will build on the success of Subsea Integration Alliance to provide our clients with the best solutions and services on an integrated basis. We are looking forward to strengthening our collaboration with Schlumberger and extending our range of innovative solutions and technologies to drive industry progress,” said Jean Cahuzac, CEO of Subsea 7.

“The proposed joint venture will give us the opportunity to capitalize on the synergies already established and significantly improve subsea economics over the lifetime of the field,” added Olivier Le Peuch, president of Schlumberger.

Both companies will continue to offer non-integrated products and services.

 

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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