Schlumberger JV OneSubsea Secures Contract for Northern Lights CCS Project Expansion in Norway
This contract marks a significant progression for the project, following the final investment decision/FID made by Northern Lights' owners (TotalEnergies, Shell, and Equinor) and a commercial agreement with an end-use customer. With the completion of Phase 2, the project's capacity is set to expand significantly, from its initial 1.5 million tonnes/mt of CO₂ per year to a minimum of 5 mt per year.
An aerial view of a well site, depicting the scale of oil and gas operations.
The scope of the contract awarded to SLB OneSubsea includes the engineering and construction of two new satellite subsea CO₂ injection systems along with their associated tie-in equipment. Project work has already commenced, with initial deliveries anticipated in 2026.
Schlumberger Limited (NYSE:SLB) provides technology for the energy industry worldwide.
While we acknowledge the potential of SLB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the .
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Disclosure: None. This article is originally published at Insider Monkey.
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