SLB Selected by Vår Energi for Integrated Drilling Services Offshore Norway

Four-year scope covers two offshore rigs on the Norwegian Continental Shelf

Global energy technology company SLB (NYSE: SLB) today announced it has been selected by Vår Energi as its main integrated drilling services supplier for the Transocean Barents and Deepsea Bergen rigs on the Norwegian Continental Shelf.

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SLB (NYSE: SLB) has been selected by Vår Energi as its main integrated drilling services supplier for the Transocean Barents and Deepsea Bergen rigs on the Norwegian Continental Shelf.

The selection covers an initial four-year period, with four additional one-year extension options that could extend the scope through 2034. Two harsh-environment semisubmersibles will continuously drill exploration and development wells during this period.

The integrated delivery model brings together technical expertise, digital workflows and operational execution across the well delivery process. Working closely with Vår Energi and other selected service and technology providers, SLB will connect planning and execution, simplify interfaces, and use data to support faster decisions and more consistent well performance.

The selection also expands SLB’s role in Vår Energi’s offshore operations, adding integrated drilling services to an established relationship spanning digital well and field development planning and subsea production systems through SLB’s OneSubsea™ joint venture.

“Creating greater value on the Norwegian Continental Shelf requires us to challenge traditional ways of working,” said Torger Rød, chief operating officer of Vår Energi. “By connecting planning and execution and bringing together expertise, technology and data, we can work across traditional boundaries to deliver wells faster, more predictably and with greater value.”

“We value the trust Vår Energi has placed in us,” said ND Maduemezia, president, Europe and Africa, SLB. “Our focus now is on differentiated execution, combining technology, technical expertise, operating discipline and digital capabilities to deliver consistently high performance at scale.”

Key Points:

• SLB has been selected by Vår Energi as its main integrated drilling services supplier for two offshore rigs on the Norwegian Continental Shelf.
• The initial four-year scope includes four one-year extension options that could extend the work through 2034.
• The selection expands SLB’s relationship with Vår Energi across drilling, digital well and field development planning, and subsea production systems.

About SLB

SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. 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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