Schlumberger's Competitors, Subsea 7 and Aker Solutions, Better Watch Out! The Global Giants Join Forces to Create an Underwater Engineering Company Promising to Reduce CO2 Emissions Offshore!

Schlumberger’s Competitors, Subsea 7 and Aker Solutions, Better Watch Out! The Global Giants Join Forces to Create an Underwater Engineering Company Promising to Reduce CO2 Emissions Offshore!

Written by Flavia Marinho

Published on 30/08/2022 at 17:01

Schlumberger, Aker Solutions e Subsea 7 anunciaram hoje um acordo para formar uma joint venture – Imagem Subsea 7

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Aker Will Receive US$ 700 Million in Cash and Stock from Schlumberger as Part of the Agreement, and Expects to Record US$ 1 Billion in Profit at Closing!

The American engineering company Schlumberger and Norway’s Aker Solutions, announced today an agreement to form a joint venture, merging their subsea oil and gas construction businesses and bringing a third rival, Oslo-listed Subsea 7, as a partner, the companies said.

The agreement will bring together a portfolio of innovative technologies, such as subsea gas compression, fully electric subsea production systems, and other electrification capabilities that help clients achieve their decarbonization goals.

“As investment in the offshore market – particularly in deep waters – continues to rise, our clients will benefit from enhanced services that leverage digital and technological innovation to drive better performance of subsea assets, increasing energy efficiency and reducing CO2 emissions,” said Olivier Le Peuch, CEO of Schlumberger. “We look forward to collaborating with Aker Solutions and our subsea integration partner Subsea 7 on this new venture.”

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The Combined Business Between The Oil Multinationals Will Have Approximately 9,000 Employees Worldwide!

The agreement will leave Schlumberger with a 70% stake in the planned joint venture, while Aker Solutions receives 20% and Subsea 7 10%, the companies said in a joint statement.

The combined business will have approximately 9,000 employees worldwide, and the estimated synergy potential is over US$ 100 million per year in the medium term, they added.

The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the second half of 2023.

More information about the proposed transaction is available on Schlumberger’s investor relations website, which can be accessed HERE.

Schlumberger’s Competitors, Subsea 7 and Aker Solutions, Better Watch Out! The Global Giants Join Forces to Create an Underwater Engineering Company Promising to Reduce CO2 Emissions Offshore!

Aker Will Receive US$ 700 Million in Cash and Stock from Schlumberger as Part of the Agreement, and Expects to Record US$ 1 Billion in Profit at Closing!

The Combined Business Between The Oil Multinationals Will Have Approximately 9,000 Employees Worldwide!

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Schlumberger’s Competitors, Subsea 7 and Aker Solutions, Better Watch Out! The Global Giants Join Forces to Create an Underwater Engineering Company Promising to Reduce CO2 Emissions Offshore!

Aker Will Receive US$ 700 Million in Cash and Stock from Schlumberger as Part of the Agreement, and Expects to Record US$ 1 Billion in Profit at Closing!

The Combined Business Between The Oil Multinationals Will Have Approximately 9,000 Employees Worldwide!

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

New microwave that can replace three appliances hits the market: Sharp launches 3-in-1 model that combines air fryer, convection oven, and heating in 0.9 cubic feet for small kitchens

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

The United Kingdom removed approximately 1.8 million cubic meters of sand from the seabed and is depositing it all on 6 kilometers of beaches in Norfolk, in a mega-operation to curb erosion, protect coastal villages, and shield a vital gas terminal against the encroaching Atlantic.

After 16 years and almost 600 prototypes, a Chinese inventor unveils the world’s smallest and cheapest manned jet, at just 3.80 meters long and costing US$7.2 thousand in materials.

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