SLB Wins Strategic Reservoir Partner Role for Major Norwegian Carbon Storage Project
SLB sits 69% above its 52-week low of $31.64.
Summary
SLB has been selected as strategic reservoir partner for the Havstjerne carbon storage project in the Norwegian North Sea, a large-scale offshore CO2 storage development led by Harbour Energy with Stella Maris CCS. The scope covers concept and FEED phases, including subsurface and reservoir maturation, wells, and subsea injection system design through the OneSubSea joint venture. The project has already secured 225 million euros from the EU Innovation Fund and confirmed reservoir quality via a 2025 appraisal well. This win strengthens SLB's position in the growing carbon capture and storage market and adds to its recent string of strategic partnerships and digital expansion moves. The final investment decision for Havstjerne is still pending, and the FEED work will define the project's technical and cost basis.
At the time of this announcement, SLB was trading at $53.60 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $80.1B. The 52-week trading range was $31.64 to $58.82. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.