here's the deal
SLB, TotalEnergies team up on 10-year partnership to develop scalable digital solutions
Houston-based energy tech company SLB has forged a 10-year partnership with French energy company TotalEnergies to develop technology aimed at tackling industry challenges such as carbon capture, utilization, and sequestration (CCUS).
“Collaboration and knowledge sharing are key for our industry to continuously develop more effective ways of unlocking energy access,” Rakesh Jaggi, president of SLB’s digital and integration business, says in a news release. “With this visionary partnership, we’re combining the know-how and expertise of both companies to accelerate the delivery of new digital capabilities that will benefit the whole industry.”
The partnership initially will focus on subsurface technology for reservoir engineering, as well as geoscience modeling and interpretation. The subsurface project will feature traditional technology coupled with artificial intelligence (AI).
Namita Shah, president of TotalEnergies’ OneTech business unit, says technology developed with SLB will help the oil and gas sector reduce emissions and dive deeper into geological carbon storage. TotalEnergies’ U.S. headquarters is in Houston.
“Through this digital partnership,” Shah says, “we will develop cutting-edge next-generation software, digital applications, and new algorithms applied to geoscience.”
One day after the digital partnership was announced, SLB said TotalEnergies had awarded a contract to SLB’s OneSubsea joint venture for a 13-well oil project being developed off the shore of Angola by TotalEnergies and two partners. Financial terms weren’t disclosed.
Initial production for the estimated $6 billion deepwater Kaminho project is targeted for 2028, generating up to 70,000 barrels of oil per day. TotalEnergies holds a 40 percent stake in Kaminho.
TotalEnergies owns a number of assets in Texas, including a refinery in Port Arthur. The refinery can produce about 200,000 barrels of oil per day along with low-sulfur fuels.
- Texas ranks as vulnerable to climate change, SLB closes big deal, and more top energy transition stories ›
- SLB seals the deal with Norwegian company on carbon capture JV ›
- Chevron, TotalEnergies back energy storage startup's $15.8M series A ›
- Talos Energy sells off low carbon arm to TotalEnergies in $148M deal ›