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SLB Awarded Carbon Storage Contract for Northern Endurance Partnership Project in UK

1. SLB awarded a contract for carbon storage development in the North Sea. 2. Partnership with bp, Equinor, and TotalEnergies enhances SLB's market position.

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Why Bullish?

The contract positions SLB advantageously in the growing carbon capture market, akin to past contracts boosting profitability during renewable interest peaks.

How important is it?

The awarded contract demonstrates SLB's strategic positioning in energy transition, likely resulting in increased investor interest and stock performance.

Why Long Term?

SLB's involvement in carbon storage aligns with global sustainability trends, indicating sustained demand for their services.

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BPEQNRTOT
LONDON--(BUSINESS WIRE)--Global energy technology company SLB (NYSE: SLB) has been awarded a technologies and services contract for carbon storage site development in the North Sea by the Northern Endurance Partnership (NEP), an incorporated joint venture between bp, Equinor and TotalEnergies. NEP is developing onshore and offshore infrastructure needed to transport CO2 from carbon capture projects across Teesside and the Humber — collectively known as the East Coast Cluster — to secure storage.

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