Chevron Awards Schlumberger 20-year Offshore Contract

Oil and energy Chevron has awarded Schlumberger a twenty-year contract for offshore projects in Gulf of Mexico. 

Schlumberger will provide the underwater equipment and services for Chevron’s offshore projects in the area. The company’s ‘OneSubsea’ equipment will be used to perform under high temperatures and pressures, which is in some cases up to 20,000 psi, several thousand feet below the ocean floor.

Equipment in the ‘OneSubsea’ catalog includes multiphase boosting systems and flowmeters, subsea production trees, manifolds, controls and connections systems. By combining this contract with Schlumberger’s preapproved catalog of standard equipment, it will enable Chevron to decrease operating costs and improve energy efficiency in its subsea projects. 

"We look forward to continuing our technology collaboration with Chevron to optimize project efficiency and reduce cycle times in its future Gulf of Mexico subsea projects, from concept through life-of-field services," OneSubsea President Don Sweet said in a statement.

The contract is significant as it marks the industry recovery from the crude oil price collapse in 2014 that put most offshore projects on hold. 

Image Courtesy of Schlumberger.

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