HOUSTON (dpa-AFX) - SLB (SLB) announced Thursday the signing of a new
long-term strategic collaboration agreement between Equinor ASA (EQNR) and the
Subsea Integration Alliance (which comprises OneSubsea and Subsea7).

The agreement paves the way for exploratory work to begin on two projects: the
Wisting field offshore Norway and Bay Du Nord, off Newfoundland and Labrador,
Canada.

The agreement enables early information sharing, technology innovation and other
collaborative benefits critical to unlocking more subsea projects by making them
economically viable.

This agreement also further cements OneSubsea and Subsea7's positions as trusted
contractors to Equinor and builds on their experience as members of the Subsea
Integration Alliance.

The agreement paves the way for collaboration to begin immediately on early,
joint concept studies for two major projects. Under the same agreement, any
resulting EPCI execution would be directly awarded to the alliance, if a final
investment decision (FID) is made.



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