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SLB Wins Baleine Phase 3 EPC, Expands Subsea Backlog From Eni

Jul 13, 2026, 8:49 AM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

A sizable EPC award from a major client expands SLB's backlog and provides visibility into multiyear revenue, supporting sentiment and potential multiple-year deliverables from OneSubsea. While not a near-term earnings splash, it validates SLB's competitive advantage in subsea systems and entry into a high-profile project.

AI summary

What happened, with direct paths to the underlying reporting

SLB announced its OneSubsea JV secured a major EPC contract from Eni for Phase 3 of the Baleine deepwater project, delivering SPS for 13 wells offshore Côte d'Ivoire. The award strengthens SLB's subsea leadership and expands its project backlog, indicating potential multiyear revenue and margin opportunities as the project progresses.

SLB's OneSubsea JV wins Eni EPC for Baleine Phase 3.
Contract covers complete SPS for 13 wells offshore Côte d'Ivoire.
Win reinforces SLB as core subsea technology/execution partner.
Phase 3 expands backlog, signaling multiyear subsea revenue potential.

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