SLB to extend leak detection system across Johan Sverdrup Phase 3

SLB (NYSE:SLB) secured a contract from OQEP for the Bisat-B Expansion Production Facility in Oman, aiming to boost capacity to 548,000 barrels per day. The project, due in 19 months, includes design, construction, and four years of maintenance. SLB's stock is trading near key levels, with a Buy consensus rating and a $64.07 average price target. Earnings are expected to decline slightly in 2026, while revenue is projected to rise.

SLB (NYSE: SLB) has received a contract from OQEP to expand the Bisat-B Production Facility in Oman, increasing capacity to 548,000 barrels per day. The project includes design, engineering, and maintenance services, with completion expected in 19 months. This follows prior successful collaborations between the two companies.

SLB received a contract from OQ Exploration & Production to expand the Bisat-B facility in Oman, increasing capacity to 548,000 barrels per day. The project, due in 19 months, includes engineering, construction, and four years of maintenance. This follows prior successful collaborations between the two companies.

SLB reported a 1Q profit decline due to Middle East disruptions from the Iran war, with revenue in the region falling 10% to $2.69B. CEO Le Peuch cited challenges in Well Construction and Reservoir Performance. Shares dropped over 4% premarket.

Kelvion PHE, a heat exchanger manufacturer, agreed to close its Wilchwitz-Nobitz plant by 2026, eliminating 300 jobs. Workers struck for four weeks, but the deal includes severance packages. Kelvion, majority-owned by Apollo Global Management, is set to be acquired by SLB (NYSE: SLB) for €2.9B, assuming €600M in debt. The deal is expected to close in early 2027.

SLB has secured a contract from Equinor to expand real-time monitoring for Johan Sverdrup Phase 3 in the North Sea. The project includes leak detection, virtual flow metering, and digital production monitoring. SLB's Olga Online system will provide real-time visibility across subsea infrastructure, enhancing operational reliability and production optimization.