
Integrated engineering work will support development of the large-scale carbon storage project ahead of a final investment decision


Global energy technology company SLB (NYSE:SLB) today announced it has been selected

<p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Integrated engineering work will support development of the large-scale carbon storage project ahead of a final investment decision</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Global energy technology company SLB (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SLB">SLB</a>) today announced it has been selected as strategic reservoir partner for the Havstjerne carbon storage project in the Norwegian North Sea, providing technology and engineering services for the concept and front-end engineering and design (FEED) phases. The Havstjerne project is a large-scale offshore carbon storage development in Norway intended to serve industrial emitters across Europe, operated by Harbour Energy (LSE: HBR) in consortium with Stella Maris CCS, a Yinson Production company.

</p><p xmlns="http://www.w3.org/1999/xhtml">
SLB will coordinate an integrated project scope that connects analysis of the underground storage reservoir with injection well design, subsea infrastructure and plans for monitoring stored CO2 as the Havstjerne partnership develops the project’s technical, cost and schedule basis ahead of a final investment decision. The scope includes concept and FEED studies delivered through close collaboration between SLB and its OneSubsea&#x2122; joint venture.

</p><p xmlns="http://www.w3.org/1999/xhtml">
&#34;Carbon storage projects are moving from individual technical studies toward integrated development models that connect the subsurface, wells and offshore infrastructure," said Gavin Rennick, president of SLB’s New Energy and Industrial business. &#34;Havstjerne demonstrates how SLB can bring together its technology, engineering and project integration capabilities to help customers develop the technical basis needed to advance large-scale carbon storage projects."

</p><p xmlns="http://www.w3.org/1999/xhtml">
SLB will provide the early engineering study, subsurface and reservoir maturation and wells, while SLB OneSubsea will deliver the concept and FEED of the subsea injection system, comprising the template manifold, all-electric trees, control system, umbilical and distribution system. This integrated approach is intended to improve technical coordination across the storage system and reduce the number of technical and contractual interfaces.

</p><p xmlns="http://www.w3.org/1999/xhtml">
An appraisal well drilled in 2025 confirmed reservoir quality suitable for CO2 injection and storage, providing an important technical basis for the project’s continued development. The Havstjerne project also received 225 million euros from the EU Innovation Fund in 2025 and has selected a low-pressure floating storage and injection concept focused on system reliability, low cost and commercial flexibility.

</p><p xmlns="http://www.w3.org/1999/xhtml">
&#34;Havstjerne is being matured to provide a cost-effective, large-scale offshore CO2 storage for European industrial emitters," said Mark van Aerssen, Havstjerne project manager. &#34;This integrated approach will help us further define the project’s technical, cost and schedule basis while strengthening coordination across critical interfaces."

</p><p xmlns="http://www.w3.org/1999/xhtml">
&#34;The Havstjerne project demonstrates how collaboration across the value chain can help advance carbon storage solutions," said Lars Gunnar Vogt, chief technical officer of Yinson Production. &#34;We believe large-scale, cost-competitive CO2 storage infrastructure will play an important role in serving industrial emitters, and we look forward to continuing our collaboration with Harbour Energy and SLB."

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Key points:</b>

</p><ul xmlns="http://www.w3.org/1999/xhtml" class="bwlistdisc">
<li xmlns="http://www.w3.org/1999/xhtml">
SLB was selected as strategic reservoir partner for the concept and front-end engineering and design (FEED) phases of the Havstjerne carbon storage project in the Norwegian North Sea.

</li>
<li xmlns="http://www.w3.org/1999/xhtml">
Havstjerne is intended to provide large-scale offshore CO2 storage for European industrial emitters and received 225 million euros from the EU Innovation Fund in 2025.

</li>
<li xmlns="http://www.w3.org/1999/xhtml">
SLB will coordinate an integrated scope that includes concept and FEED studies, subsurface and reservoir maturation, wells and the subsea injection system, delivered through close collaboration between SLB and its OneSubsea&#x2122; joint venture.

</li>
<li xmlns="http://www.w3.org/1999/xhtml">
The integrated work will help the Havstjerne partnership develop the project’s technical, cost and schedule basis ahead of a final investment decision. Havstjerne has selected a low-pressure floating storage and injection concept focused on system reliability, low cost and commercial flexibility.

</li>
</ul><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About SLB</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
SLB (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SLB">SLB</a>) is a global technology company that has driven energy innovation for 100 years. 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 <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.slb.com&amp;esheet=54594070&amp;newsitemid=20260825382216&amp;lan=en-US&amp;anchor=slb.com&amp;index=1&amp;md5=55a7385b4d2785d1e868ef54869509cb" shape="rect">slb.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Cautionary Statement Regarding Forward-Looking Statements:</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
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&#34; 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; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; 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.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260825382216r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260825382216/en/" rel="nofollow">https://www.businesswire.com/news/home/20260825382216/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Media 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Josh Byerly – SVP of Global Communications
<br xmlns="http://www.w3.org/1999/xhtml"></br>Moira Duff – Director of External Communications
<br xmlns="http://www.w3.org/1999/xhtml"></br>SLB
<br xmlns="http://www.w3.org/1999/xhtml"></br>Tel: +1 (713) 375-3407
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:media@slb.com" shape="rect">media@slb.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Investors 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>James R. McDonald – SVP of Investor Relations &amp; Industry Affairs
<br xmlns="http://www.w3.org/1999/xhtml"></br>Joy V. Domingo – Director of Investor Relations
<br xmlns="http://www.w3.org/1999/xhtml"></br>SLB
<br xmlns="http://www.w3.org/1999/xhtml"></br>Tel: +1 (713) 375-3535
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:investor-relations@slb.com" shape="rect">investor-relations@slb.com</a>

</p>

SLB Selected as Strategic Reservoir Partner for the Havstjerne Carbon Storage Project

SLB Secures Strategic Reservoir Role in Havstjerne Carbon Storage Project

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Integrated engineering work will support development of the large-scale carbon storage project ahead of a final investment decision


Global energy technology company SLB (NYSE:SLB) today announced it has been selected</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>SLB was selected as the strategic reservoir partner for Havstjerne, a large offshore carbon storage project in the Norwegian North Sea. The integration spans subsurface, wells, and subsea injection with SLB&#039;s OneSubsea JV handling FEED, ahead of a final investment decision. EU funding of 225 million euros in 2025 underscores policy support and potential longer-term revenue opportunities for SLB.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>SLB named strategic reservoir partner for Havstjerne FEED in Norwegian North Sea.</li><li>Havstjerne project secured 225 million euros from EU Innovation Fund in 2025.</li><li>Integrated scope includes reservoir, wells, subsea infrastructure; OneSubsea JV to deliver FEED.</li><li>Appraisal well drilled in 2025 confirmed reservoir quality suitable for CO2 injection.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>SLB (SLB)</strong>: Selected as strategic reservoir partner; enhances New Energy and Industrial capabilities.</li><li><strong>Harbour Energy (HBR)</strong>: Project operator; consortium partner; potential downstream collaboration benefits.</li><li><strong>Stella Maris CCS (N/A)</strong>: CCS consortium partner with Yinson; private entity; collaborative upside for SLB.</li><li><strong>Yinson Production (N/A)</strong>: Partner in Havstjerne consortium; private company; involvement supports integrated CCS development.</li></ul>
  </section>

  <section data-block="category">
    <h3>Industry News</h3>
    <p>Industry News highlighting a strategic contract win in carbon storage, signaling SLB&#039;s expanding footprint in CCS project delivery and integrated offshore technology. It supports SLB&#039;s growth narrative in New Energy and Industrial segments and could broaden long-term backlog and visibility.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Havstjerne execution strengthens SLB&#039;s CCS backlog and market visibility.</li><li>EU funding reduces project risk and may accelerate downstream milestones.</li><li>OneSubsea FEED involvement could lift subsea systems revenue over multi-year horizon.</li><li>Collaboration with Harbour Energy and partners supports SLB&#039;s CCS growth narrative.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>SLB named strategic reservoir partner for Havstjerne concept and FEED phases.</li><li>Havstjerne aims to provide large-scale offshore CO2 storage for European emitters.</li><li>EU Innovation Fund awarded 225 million euros in 2025.</li><li>Appraisal well drilled in 2025 confirmed reservoir suitable for CO2 injection.</li><li>SLB and OneSubsea will coordinate integrated scope: reservoir, wells, and subsea injection FEED.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish for SLB over the next 12–24 months as CCS backlog and collaboration expand.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Integrated engineering work will support development of the large-scale carbon storage project ahead of a final investment decision</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Global energy technology company SLB (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SLB">SLB</a>) today announced it has been selected as strategic reservoir partner for the Havstjerne carbon storage project in the Norwegian North Sea, providing technology and engineering services for the concept and front-end engineering and design (FEED) phases. The Havstjerne project is a large-scale offshore carbon storage development in Norway intended to serve industrial emitters across Europe, operated by Harbour Energy (LSE: HBR) in consortium with Stella Maris CCS, a Yinson Production company.

</p><p xmlns="http://www.w3.org/1999/xhtml">
SLB will coordinate an integrated project scope that connects analysis of the underground storage reservoir with injection well design, subsea infrastructure and plans for monitoring stored CO2 as the Havstjerne partnership develops the project’s technical, cost and schedule basis ahead of a final investment decision. The scope includes concept and FEED studies delivered through close collaboration between SLB and its OneSubsea&#x2122; joint venture.

</p><p xmlns="http://www.w3.org/1999/xhtml">
&#34;Carbon storage projects are moving from individual technical studies toward integrated development models that connect the subsurface, wells and offshore infrastructure," said Gavin Rennick, president of SLB’s New Energy and Industrial business. &#34;Havstjerne demonstrates how SLB can bring together its technology, engineering and project integration capabilities to help customers develop the technical basis needed to advance large-scale carbon storage projects."

</p><p xmlns="http://www.w3.org/1999/xhtml">
SLB will provide the early engineering study, subsurface and reservoir maturation and wells, while SLB OneSubsea will deliver the concept and FEED of the subsea injection system, comprising the template manifold, all-electric trees, control system, umbilical and distribution system. This integrated approach is intended to improve technical coordination across the storage system and reduce the number of technical and contractual interfaces.

</p><p xmlns="http://www.w3.org/1999/xhtml">
An appraisal well drilled in 2025 confirmed reservoir quality suitable for CO2 injection and storage, providing an important technical basis for the project’s continued development. The Havstjerne project also received 225 million euros from the EU Innovation Fund in 2025 and has selected a low-pressure floating storage and injection concept focused on system reliability, low cost and commercial flexibility.

</p><p xmlns="http://www.w3.org/1999/xhtml">
&#34;Havstjerne is being matured to provide a cost-effective, large-scale offshore CO2 storage for European industrial emitters," said Mark van Aerssen, Havstjerne project manager. &#34;This integrated approach will help us further define the project’s technical, cost and schedule basis while strengthening coordination across critical interfaces."

</p><p xmlns="http://www.w3.org/1999/xhtml">
&#34;The Havstjerne project demonstrates how collaboration across the value chain can help advance carbon storage solutions," said Lars Gunnar Vogt, chief technical officer of Yinson Production. &#34;We believe large-scale, cost-competitive CO2 storage infrastructure will play an important role in serving industrial emitters, and we look forward to continuing our collaboration with Harbour Energy and SLB."

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Key points:</b>

</p><ul xmlns="http://www.w3.org/1999/xhtml" class="bwlistdisc">
<li xmlns="http://www.w3.org/1999/xhtml">
SLB was selected as strategic reservoir partner for the concept and front-end engineering and design (FEED) phases of the Havstjerne carbon storage project in the Norwegian North Sea.

</li>
<li xmlns="http://www.w3.org/1999/xhtml">
Havstjerne is intended to provide large-scale offshore CO2 storage for European industrial emitters and received 225 million euros from the EU Innovation Fund in 2025.

</li>
<li xmlns="http://www.w3.org/1999/xhtml">
SLB will coordinate an integrated scope that includes concept and FEED studies, subsurface and reservoir maturation, wells and the subsea injection system, delivered through close collaboration between SLB and its OneSubsea&#x2122; joint venture.

</li>
<li xmlns="http://www.w3.org/1999/xhtml">
The integrated work will help the Havstjerne partnership develop the project’s technical, cost and schedule basis ahead of a final investment decision. Havstjerne has selected a low-pressure floating storage and injection concept focused on system reliability, low cost and commercial flexibility.

</li>
</ul><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About SLB</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
SLB (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SLB">SLB</a>) is a global technology company that has driven energy innovation for 100 years. 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 <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.slb.com&amp;esheet=54594070&amp;newsitemid=20260825382216&amp;lan=en-US&amp;anchor=slb.com&amp;index=1&amp;md5=55a7385b4d2785d1e868ef54869509cb" shape="rect">slb.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Cautionary Statement Regarding Forward-Looking Statements:</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
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&#34; 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; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; 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.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260825382216r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260825382216/en/" rel="nofollow">https://www.businesswire.com/news/home/20260825382216/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Media 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Josh Byerly – SVP of Global Communications
<br xmlns="http://www.w3.org/1999/xhtml"></br>Moira Duff – Director of External Communications
<br xmlns="http://www.w3.org/1999/xhtml"></br>SLB
<br xmlns="http://www.w3.org/1999/xhtml"></br>Tel: +1 (713) 375-3407
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:media@slb.com" shape="rect">media@slb.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Investors 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>James R. McDonald – SVP of Investor Relations &amp; Industry Affairs
<br xmlns="http://www.w3.org/1999/xhtml"></br>Joy V. Domingo – Director of Investor Relations
<br xmlns="http://www.w3.org/1999/xhtml"></br>SLB
<br xmlns="http://www.w3.org/1999/xhtml"></br>Tel: +1 (713) 375-3535
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:investor-relations@slb.com" shape="rect">investor-relations@slb.com</a>

</p>

SLB was selected as the strategic reservoir partner for Havstjerne, a large offshore carbon storage project in the Norwegian North Sea. The integration spans subsurface, wells, and subsea injection with SLB's OneSubsea JV handling FEED, ahead of a final investment decision. EU funding of 225 million euros in 2025 underscores policy support and potential longer-term revenue opportunities for SLB.

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SLB Selected as Strategic Reservoir Partner for the Havstjerne Carbon Storage Project

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