SLB OneSubsea Wins ExxonMobil Contract for Rovuma LNG Project
SLB sits 61% above its 52-week low of $31.64.
Summary
SLB's OneSubsea joint venture secured a contract from ExxonMobil Moçambique to deliver subsea production systems for the first phase of the Rovuma LNG project in Mozambique. The scope includes engineering, procurement, manufacturing, and installation of subsea trees, manifolds, umbilicals, and control systems. SLB OneSubsea also plans to establish a services base in Mozambique to support regional operators and develop local supply chains. This award adds to SLB's recent string of subsea and integrated contracts, including the Aramco well construction deal announced last week. The contract value is not disclosed, but the project's scale and ExxonMobil's involvement suggest a material addition to SLB's backlog. Investors will watch for further details on contract value and timing in upcoming disclosures.
At the time of this announcement, SLB was trading at $50.80 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $76.4B. The 52-week trading range was $31.64 to $60.46. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.