OneSubsea Company Profile

Background

OneSubsea is a leading subsea technology and solutions provider, established in October 2023 as a joint venture between SLB (formerly Schlumberger), Aker Solutions, and Subsea7. The company focuses on accelerating innovation to enhance subsea asset performance, increase energy efficiency, and reduce CO₂ emissions. Headquartered in Oslo, Norway, and Houston, Texas, OneSubsea employs approximately 11,000 people globally.

Key Strategic Focus

OneSubsea's strategic objectives include:

• Accelerated Field Delivery: Optimizing subsea field development to reduce cycle times and enhance project efficiency.

• Long Subsea Tiebacks: Implementing subsea boosting and compression technologies to maximize returns from extended subsea tiebacks.

• Unlocking Marginal Fields: Developing solutions to economically exploit smaller or marginal subsea fields.

• Subsea Gas Solutions: Enhancing the value derived from natural gas through advanced subsea technologies.

The company leverages digital and technological innovations to optimize oil and gas production, reduce emissions in subsea operations, and unlock the potential of subsea solutions for a sustainable energy future.

Financials and Funding

As a joint venture, OneSubsea's financials are integrated with its parent companies:

• SLB (NYSE: SLB): As of March 19, 2026, SLB's stock price is $47.82, with a market capitalization of approximately $46.44 billion.

• Aker Solutions: Aker Solutions holds a 20% equity stake in OneSubsea.

• Subsea7: Subsea7 holds a 10% equity stake in OneSubsea.

The joint venture aims to drive innovation and efficiency in subsea production, helping customers unlock reserves and reduce cycle times.

Pipeline Development

OneSubsea has been involved in several significant projects:

• Petrobras Contract: In August 2024, OneSubsea secured a major contract from Petrobras for the deployment of standardized subsea production systems and associated services for the Atapu and Sepia fields in the Santos Basin, offshore Brazil.

• TotalEnergies Kaminho Project: In July 2024, OneSubsea was awarded a contract by TotalEnergies for the development of the Kaminho project offshore Angola, marking a significant advancement in subsea technology.

Technological Platform and Innovation

OneSubsea's technological innovations include:

• All-Electric Subsea Systems: The company is advancing subsea electrification, with the K5F electric tree being a notable example, having operated for over 1 million hours.

• Subsea Compression and Boosting: Implementing technologies to enhance reservoir recovery and enable long tiebacks, reducing the structure and capital cost of developing new energy reserves.

Leadership Team

The leadership team at OneSubsea includes:

• Mads Hjelmeland: Chief Executive Officer, overseeing the company's strategic direction and operations.

• Luiz Henrique Velloso Coutinho: Executive Vice President, contributing to the company's leadership.

• Danilo Azevedo: Executive Vice President, playing a key role in the company's operations.

• Afif Zamri: Executive Vice President, involved in the company's strategic initiatives.

• Sigurd Loftheim Dale: Executive Vice President, contributing to the leadership team.

Competitor Profile

OneSubsea operates in a competitive subsea technology market, with key competitors including:

• Dril-Quip: A leading provider of offshore drilling and production equipment.

• Aker Solutions: A Norwegian company offering subsea production systems and services.

• FMC Technologies: Specializes in subsea production and processing systems.

• TechnipFMC: Provides subsea, onshore, and offshore services.

• GE Oil & Gas: Offers equipment and services for the oil and gas industry.

• Baker Hughes: Provides products and services for the oil and gas industry.

These competitors offer similar subsea technologies and services, contributing to a dynamic and competitive market landscape.

Strategic Collaborations and Partnerships

OneSubsea has established significant collaborations, including:

• Petrobras: Secured a major contract for subsea production systems in Brazil.

• TotalEnergies: Awarded a contract for the Kaminho project offshore Angola.

• Equinor: Collaborated on the Fram-Sør all-electric subsea tree project.

Operational Insights

OneSubsea's strategic considerations include:

• Market Position: As a joint venture, OneSubsea leverages the strengths of its parent companies to enhance its market position.

• Competitive Advantages: The company's focus on innovation, efficiency, and sustainability differentiates it in the subsea technology market.

Strategic Opportunities and Future Directions

OneSubsea's strategic roadmap includes:

• Expansion into New Markets: Pursuing opportunities in emerging offshore regions.

• Technological Advancements: Continuing to develop and deploy innovative subsea technologies.

• Sustainability Initiatives: Focusing on reducing emissions and promoting sustainable energy solutions.

Contact Information

• Official Website: www.onesubsea.slb.com

• LinkedIn: OneSubsea LinkedIn

• Headquarters: Oslo, Norway and Houston, Texas, United States