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.”

ARTICLE CONTINUES BELOW

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!

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

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