SLB secures comprehensive carbon storage solutions contract for pioneering CCS infrastructure

Global energy technology company SLB (NYSE: SLB) has been awarded a technologies and services contract for carbon storage site development in the North Sea by the Northern Endurance Partnership (NEP), an incorporated joint venture between bp, Equinor and TotalEnergies.

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SLB will deploy its Sequestri™ carbon storage solutions portfolio — which includes technologies specifically engineered and qualified for the development of carbon storage sites — to construct six carbon storage wells.

NEP is developing onshore and offshore infrastructure needed to transport CO₂ from carbon capture projects across Teesside and the Humber — collectively known as the East Coast Cluster — to secure storage under the North Sea.

SLB will deploy its Sequestri™ carbon storage solutions portfolio — which includes technologies specifically engineered and qualified for the development of carbon storage sites — to construct six carbon storage wells. The project scope includes drilling, measurement, cementing, fluids, completions, wireline and pumping services.

“Technologies and services tailored for carbon storage will play a critical role in shifting the economics and safeguarding the integrity of carbon storage projects before and after the FID,” said Katherine Rojas, senior vice president of Industrial Decarbonization, SLB. “We are excited to be a part of this groundbreaking CCS project in the UK, leveraging the proven carbon storage technologies in our Sequestri portfolio and our extensive expertise delivering complex CCS projects around the world.”

The NEP infrastructure is crucial to achieving net zero in the UK’s most carbon intensive industrial regions. NEP, via the Endurance saline aquifer and adjacent stores, has access to up to 1 billion metric tons of CO₂ storage capacity. The infrastructure will transport and permanently store up to an initial 4 million metric tons of CO₂ per year with start-up expected in 2028.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

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Media
Josh Byerly – SVP of Communications
Moira Duff – Director of External Communications
SLB
Tel: +1 (713) 375-3407
media@slb.com

Investors
James R. McDonald – SVP of Investor Relations & Industry Affairs
Joy V. Domingo – Director of Investor Relations
SLB
Tel: +1 (713) 375-3535
investor-relations@slb.com

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