Schlumberger : OneSubsea Awarded Subsea Production Systems Contract for the Zohr Development, Offshore Egypt

HOUSTON, June 20, 2016-OneSubsea, a Schlumberger company, has been awarded an engineering, procurement and construction contract totaling more than $170 million from Belayim Petroleum Company (Petrobel). OneSubsea will supply the subsea production systems for the first stage of the Zohr gas field, located in the Shorouk Concession, offshore Egypt.

'Zohr is one of the largest gas fields discovered in the Mediterranean Sea to date, and is also the world's second longest step-out, a distance greater than 150 km. This step-out will be enabled by OneSubsea controls systems with fiber-optic communications technology,' said Mike Garding, president, OneSubsea. 'Our supplier-led approach to the field development, coupled with our FasTrac* program capability, and our integrated offering that includes flow assurance, subsea production system and landing string capabilities, will help Petrobel meet their first gas commitment.'

The award follows an accelerated FEED study by OneSubsea in which a multidisciplinary team collaborated with Eni and Petrobel to develop the subsea equipment architecture and control system to validate handling of high gas volumes, considering reservoir characteristics and subsea equipment specifications.

The scope of contract includes six horizontal SpoolTree* subsea trees, intervention and workover control systems, landing string, tie-in, high-integrity pressure protection system, topside and subsea controls and distribution, water detection and salinity monitoring provided by the AquaWatcher* water analysis sensor, and installation and commissioning services. The FasTrac program comprises a strategic inventory capability with the flexibility to configure the system to the customer needs and deliver on a fast turnaround.

For more information, visit www.onesubsea.slb.com.

About Schlumberger

Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 113,000 people who represent over 140 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.

Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $35.47 billion in 2015. For more information, visit www.slb.com.

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