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SLB OneSubsea Wins Contract for BP's Thunder Horse Deepwater Project
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Key Takeaways
SLB's OneSubsea won an EPC contract to provide a subsea boosting system for the Thunder Horse project.
The award follows recent contracts supporting BP's Kaskida and Tiber developments.
The subsea boosting system can improve execution efficiency, shorten delivery time and enhance reliability.
SLB N.V. (SLB - Free Report) announced that its OneSubsea joint venture has been awarded a contract by BP p.l.c. (BP - Free Report) to provide a subsea boosting system for the Thunder Horse project in the deepwater Gulf of America. The engineering, procurement and construction (EPC) award follows recent contracts for BP’s Kaskida and Tiber developments, demonstrating continued demand for OneSubsea’s standardized subsea boosting technology across multiple offshore projects.
The EPC contract includes engineering, procurement, construction, manufacturing, testing and project management services. By deploying a common supplier-led solution across several developments, SLB can improve execution efficiency, reduce delivery time and enhance operational reliability. These benefits are expected to generate higher project margins.
The growing adoption of subsea boosting systems can enhance SLB’s future cash flows as operators increasingly seek solutions that extend field life, improve recovery rates and maximize production from existing offshore assets. The latest contract award strengthens SLB’s subsea backlog, reinforces its business model and bolsters its competitive position in offshore production technologies.
Eni and BP currently carry a Zacks Rank #3 (Hold).
The business models of SLB and other players that provide equipment and services to companies are dependent on the capital spending by the upstream players. The upstream players such as Chevron Corporation (CVX - Free Report) and YPF Sociedad Anónima (YPF - Free Report) and BP are currently enjoying a favorable pricing environment as the West Texas Intermediate (“WTI”) crude oil prices are trading around the $90-per-barrel mark, according to oilprice.com.
A major integrated energy giant, Chevron maintains a strong presence within the Permian Basin. Supported by excellent upstream performance and ongoing development across its resource base, CVX recorded an international net oil-equivalent output of 1.8 million barrels per day for the first quarter of 2026, up from the prior-year period.
Integrated energy company YPF is using its strong foothold in the Vaca Muerta formation to accelerate production growth. A projected increase in operational activity by YPF in the coming quarters is anticipated to yield higher oil and gas production by the second half of 2026.
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SLB OneSubsea Wins Contract for BP's Thunder Horse Deepwater Project
Key Takeaways
SLB N.V. (SLB - Free Report) announced that its OneSubsea joint venture has been awarded a contract by BP p.l.c. (BP - Free Report) to provide a subsea boosting system for the Thunder Horse project in the deepwater Gulf of America. The engineering, procurement and construction (EPC) award follows recent contracts for BP’s Kaskida and Tiber developments, demonstrating continued demand for OneSubsea’s standardized subsea boosting technology across multiple offshore projects.
The EPC contract includes engineering, procurement, construction, manufacturing, testing and project management services. By deploying a common supplier-led solution across several developments, SLB can improve execution efficiency, reduce delivery time and enhance operational reliability. These benefits are expected to generate higher project margins.
The growing adoption of subsea boosting systems can enhance SLB’s future cash flows as operators increasingly seek solutions that extend field life, improve recovery rates and maximize production from existing offshore assets. The latest contract award strengthens SLB’s subsea backlog, reinforces its business model and bolsters its competitive position in offshore production technologies.
Eni and BP currently carry a Zacks Rank #3 (Hold).
The business models of SLB and other players that provide equipment and services to companies are dependent on the capital spending by the upstream players. The upstream players such as Chevron Corporation (CVX - Free Report) and YPF Sociedad Anónima (YPF - Free Report) and BP are currently enjoying a favorable pricing environment as the West Texas Intermediate (“WTI”) crude oil prices are trading around the $90-per-barrel mark, according to oilprice.com.
CVX currently carries a Zacks Rank #2 (Buy), while YPF sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
A major integrated energy giant, Chevron maintains a strong presence within the Permian Basin. Supported by excellent upstream performance and ongoing development across its resource base, CVX recorded an international net oil-equivalent output of 1.8 million barrels per day for the first quarter of 2026, up from the prior-year period.
Integrated energy company YPF is using its strong foothold in the Vaca Muerta formation to accelerate production growth. A projected increase in operational activity by YPF in the coming quarters is anticipated to yield higher oil and gas production by the second half of 2026.