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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Schlumberger Ltd | NYSE:SLB | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.10 | 0.21% | 47.68 | 47.97 | 47.13 | 47.66 | 11,106,909 | 01:00:00 |
From May 2019 to May 2024
By Dominic Chopping
Norwegian offshore engineer Subsea 7 S.A. (SUBC.OS) will form an alliance with Houston-based OneSubsea as the companies join forces to work on subsea developments, it said Monday.
The alliance will combine resources to collaborate on selected projects, focussing on subsea production systems and subsea umbilicals, risers and flowlines system solutions.
"This combination...provides clients with the opportunity to significantly improve subsea field economics over the lifetime of the development," said Subsea 7 Chief Executive Jean Cahuzac. "We will be able to capitalise on the synergies between our strong technology portfolios and develop joint technologies to improve our offering for our clients."
OneSubsea is a subsea engineering joint venture formed in 2013 by oil and gas service companies Cameron International (CAM) and Schlumberger (SLB).
At 0812 GMT Subsea 7 shares traded 0.9% higher at NOK74.95.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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