SLB Equinor NCS stimulation agreement

SLB and Equinor have signed a multi-year agreement for advanced reservoir stimulation services across the Norway — Norwegian continental shelf (NCS). The agreement includes a major upgrade of the well stimulation vessel Island Captain, converting it into a fully proppant-capable vessel with expanded proppant storage, advanced handling and blending systems, increased pumping capacity, and an optimized deck layout. Following the upgrade, the vessel will be able to carry up to two million pounds of proppant, enabling high-intensity offshore stimulation treatments. The deal secures dedicated capacity to support development of tight offshore reservoirs and help maximize recovery from future wells. Tight reservoirs are expected to play an increasingly important role in future offshore resource development in Norway. SLB's managing director for Scandinavia, Ole Christian Meldahl, stated that the agreement builds on a longstanding relationship between Equinor and SLB and represents an important investment in offshore stimulation capability for the NCS.