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Contract win for Havstjerne enhances SLB's CCS backlog and demonstrates end-to-end project execution capability, potentially lifting sentiment and positioning in CCS-related discussions; near-term revenue impact is uncertain but positive for long-term backlog and cross-selling across SLB’s portfolio.
What happened, with direct paths to the underlying reporting
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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