SLB News & Events

SLB (SLB) announced an expansion of its technology collaboration with NVIDIA (NVDA) to design and deploy critical AI infrastructure and models for the energy industry. The work focuses on three strategic elements: SLB will serve as the modular design partner for NVIDIA DSX AI factories; B will work with NVIDIA to develop an "AI Factory for Energy;" companies will optimize the processing of large datasets and AI models across SLB digital platforms using the latest NVIDIA AI infrastructure. "The winners in AI will be companies with the best data, the deepest domain expertise and the ability to scale," said Demos Pafitis, SLB's chief technology officer. "By collaborating with NVIDIA to advance modular data-center construction and harness our domain expertise and digital platforms, we're enabling the energy industry to deploy AI at scale and transform operational data into smarter decisions."

SLB announced that its OneSubsea joint venture has been awarded a multi-well, integrated engineering, production, and construction contract by China National Offshore Oil Corporation. The contract encompasses 20 wells and covers the delivery of integrated subsea production systems for the deepwater Kaiping 18-1 field development in the South China Sea. Under the contract, SLB OneSubsea will deliver standardized subsea production technology that includes dual electric submersible pump, gas lift and gas injection horizontal trees, manifolds, connectors, and control systems, along with installation and commissioning support.

SLBis in the spotlight on Wednesday after the oil field services company said it is bracing for a softer first quarter as Middle East disruptions pressure activity levels and weigh on near term revenue, with investors watching for signs of broader services softness.REVENUE HIT:SLB expects Middle East disruptions will drag on Q1 results, with the company trimming its revenue forecast and cutting an estimated 6c-9c from diluted EPS. In its update on Q1 outlook, the company said, "SLB revenue for the first quarter will be lower than expected, and the company expects to incur additional costs resulting in an impact of approximately 6-9 cents of earnings per diluted share for the first quarter. Given the dynamic nature of the environment, these factors could change, and we will continue to closely monitor developments and their impact. Despite these near-term disruptions, SLB remains confident in the underlying resilience of its global business, including the Middle East. The company has dealt with numerous geopolitical crises throughout its 100-year history and has deep experience navigating these challenges while remaining focused on serving its global customer base."MIDDLE EAST OPERATIONS:SLB also noted that it continues to closely monitor the unfolding situation in the Middle East and adapt its operations. The company added, "The safety and security of SLB's employees is the highest priority, and the company has activated local and regional crisis response teams that are meeting daily. Travel to and transit through the region have been suspended, and the company has begun to demobilize operations in a few countries in response to customer actions to safeguard personnel and facilities. These measures will continue as long as necessary until the environment in the region has stabilized. SLB is working closely with local authorities and its customers to monitor the situation and will begin a phased resumption of full activity as conditions allow."PRICE ACTION:Shares of SLB are trading fractionally lower on Wednesday at $47.92.