SLB Awarded Three Completion Contracts for Petrobras’ Buzios Field

SLB (NYSE: SLB) has been awarded three contracts by Petrobras (NYSE: PBR) for completion hardware and services for up to 35 subsea wells in the development of Petrobras’ offshore Buzios Wave II oilfield. The scope of the contract includes SLB’s full bore electric interval control valves and electric subsurface safety valves. The award is a catalyst toward full production system electrification for Petrobras, improving production availability via more reliable completions.

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By converting to electric completions, Petrobras will gain the ability to reliably control a more sophisticated system in the subsurface. Full electrification of completions enables maximum production control across multiple reservoir drains, potentially requiring fewer wells and limiting heavy workovers during the productive life of the Buzios field wells.

“By leveraging the electrification and digitalization of completions from SLB, Petrobras will increase its field recovery efficiency in complex and challenging pre-salt reservoirs,” said Steve Gassen, President of Production Systems, SLB. “This contract award represents a critical milestone on Petrobras’ journey to digitally integrated offshore electric production systems. It will improve efficiency and deploy innovative technologies in Brazil.”

Much of the technology to be deployed in Buzios and available for other operators of Brazilian pre-salt fields was developed at SLB’s Taubaté Engineering Center in Brazil for Brazilian Pre-salt, in collaboration with CENPES, the Petrobras research center, and TotalEnergies.

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.

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Contact information

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