HOUSTON, January 16, 2019—Subsea Integration Alliance today announced the award of integrated subsea engineering, procurement, construction, installation and commissioning (EPCIC) contracts. These awards, by Esso Australia Pty Ltd, represent the first integrated subsea project for Subsea Integration Alliance in Australia combining OneSubsea and Subsea 7 expertise in subsea production systems (SPS) and subsea umbilical, riser and flowline (SURF) systems.

Subsea Integration Alliance work scope includes engineering, procurement, construction and installation of two production wells. The wells are in a water depth of approximately 45 m and will be tied back to the Longford onshore gas plants. Project management and engineering will be provided by OneSubsea and Subsea 7 from local offices in Perth and Melbourne, Australia. Offshore installation activities are scheduled for 2020.

The Subsea 7 scope includes project management, engineering, procurement, construction and installation of two production wells and a single electrohydraulic umbilical from the Barracouta Platform to the West Barracouta drill center.

The OneSubsea scope includes the provision of two vertical monobore on-wellhead production trees, wellheads, controls and installation and commissioning services.

“By adopting our supplier-led approach, Esso Australia will leverage our technical specifications as well as standardized configurable products that will allow for shorter lead times, overall lower system costs, and accelerated first gas production. Further, Subsea Integration Alliance’s execution strategy will enable Esso to achieve cost and schedule certainty and reduce interface risk,” said Don Sweet, president, OneSubsea, Schlumberger.

Andy Woolgar, Subsea 7 Vice President for Australia & New Zealand, said, “This award builds on our relationship with Esso and on the reputation of Subsea Integration Alliance to offer clients a quality-focused project execution, with optimized production and improved cost efficiency. By bringing together complementary technology and expertise, we are able to provide our clients with greater certainty of return on investment and enhanced asset profit potential. This project serves as a step-change of how we work in the region and demonstrates our ability to deliver superior value to the industry.”

About the Alliance

Subsea Integration Alliance is a worldwide non-incorporated partnership between OneSubsea, Schlumberger, and Subsea 7 developed to jointly design, develop, and deliver integrated subsea development solutions through the combination of subsurface expertise, subsea production systems (SPS), subsea processing systems, subsea umbilicals, risers and flowlines systems (SURF), and life of field services. Its goal is delivering complementary technology and expertise that help customers extend field life and lower production costs, ensuring greater certainty of recovery and return on the investment.

About the Companies

Subsea 7 S.A. is a leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry. Subsea 7 provides technical solutions to enable the delivery of complex projects in all water depths and challenging environments. Subsea 7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355. For more information visit www.subsea7.com.

Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.

Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $30.44 billion in 2017. For more information, visit www.slb.com.

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For further information, contact:

Investors
Isabel Green – Subsea 7, Investor Relations Director
Tel: +44 (0) 20 8210 5568
isabel.green@subsea7.com

Simon Farrant – Schlumberger Limited, Vice President of Investor Relations
Joy V. Domingo – Schlumberger Limited, Manager of Investor Relations
Tel: +1 (713) 375-3535
investor-relations@slb.com

Media
Michelle Wainwright – Subsea 7, Corporate Communications Manager
Tel: +44 (0) 1224 526570
Mobile: +44 (0) 7876778370
michelle.wainwright@subsea7.com

Joao Felix – Schlumberger Limited, Director of Corporate Communication
Tel: +1 (713) 375-3535
communication@slb.com