StockNews.AI
SLB
StockNews.AI
106 days

SLB OneSubsea and Subsea7 Awarded EPCI Contract for bp's Ginger Project

1. SLB awarded substantial EPCI contract for bp's Ginger project offshore Trinidad. 2. This marks the first project under the new global framework agreement with bp.

Mass Contract
-2.65%Current Return
VS
-1.04%S&P 500
$34.7305/05 08:48 AM EDTEvent Start
$33.8105/06 03:29 PM EDTLatest Updated
2m saved
Insight
Article

FAQ

Why Very Bullish?

The substantial contract enhances SLB's revenue potential and strengthens its market position. Historical precedents, such as past successful contracts with bp, often led to increased stock valuations.

How important is it?

This agreement reflects SLB’s strategic collaborations with major energy firms, indicating future growth potential.

Why Long Term?

The ongoing partnership with bp signifies a sustained revenue stream over several years. Similar past projects have resulted in long-term collaborations benefiting SLB’s financial performance.

Related Companies

BPSUBC
HOUSTON--(BUSINESS WIRE)--SLB (NYSE: SLB) today announced the award of a substantial engineering, procurement, construction and installation (EPCI) contract by bp to its OneSubsea™ joint venture and Subsea7 for the Ginger project offshore Trinidad and Tobago. The Ginger project is the first project award under the global framework agreement between bp and Subsea Integration Alliance partners SLB OneSubsea and Subsea7. Building on a long-standing successful relationship, this agreement establish.

Related News