SLB Awarded Major Completions Contract for Ultra-Deepwater Project Offshore Brazil

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5:57 AM on Thursday, September 25

The Associated Press

HOUSTON--(BUSINESS WIRE)--Sep 25, 2025--

Global technology company SLB (NYSE: SLB) today announced a major contract from Petrobras (NYSE: PBR) to provide services and technology for up to 35 ultra-deepwater wells in the strategically important Santos Basin.

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As part of its project scope, SLB will deploy advanced electric completions technologies and digital solutions that deliver precise, real-time production intelligence and improved reservoir management to optimally produce these valuable and hard-to-access resources.

The wells, which are part of the second development of the Atapu and Sépia fields, target massive pockets of oil and gas beneath thick salt layers, located up to 2,000 meters below the ocean’s surface.

“This will help Petrobras drive greater reliability, system uptime and production performance in those fields — supporting Brazil’s energy security and economic growth ambitions,” said Paul Sims, president of Production Systems, SLB.

The completions work is scheduled to begin in mid-2026 and will feature advanced services and technology from SLB’s completions portfolio, such as SLB’s Electris™ high-flow-rate interval control valves, which are designed to increase production control and recovery from geologically complex, high-flow-rate wells.

This work follows another major contract awarded to the SLB OneSubsea™ joint venture by Petrobras for the Atapu and Sépia fields in 2024, which includes standardized, pre-salt subsea production systems and related services.

The contract was awarded following a competitive tender process.

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.

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; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; 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.

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CONTACT: Media:

Josh Byerly – SVP of Global Communications

Moira Duff – Director of External Communications

SLB

Tel: +1 (713) 375-3407

[email protected]:

James R. McDonald – SVP of Investor Relations & Industry Affairs

Joy V. Domingo – Director of Investor Relations

SLB

Tel: +1 (713) 375-3535

[email protected]