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Benzinga

SLB shares rise 1.24% to $48.35 after OneSubsea wins Côte d’Ivoire Baleine Phase 3 EPC deal

AI Market Summary
SLB's OneSubsea won an EPC contract for the Baleine Phase 3 deepwater project offshore Côte d'Ivoire, covering subsea production systems for 13 wells plus installation and life-of-field support. The award underscores backlog visibility and execution capability, supporting relative strength in energy equities during a broader market decline. The immediate impact is company-specific, reinforcing sentiment toward commodity-linked cyclicals versus lagging technology.
Impact level
● Low
Affected assets
NCSKSLB2USD/USDT-1.08%
AI Insight · NCSKSLB2USD/USDTAI Insight
● Neutral
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SLB’s OneSubsea has secured an EPC contract for Côte d’Ivoire’s Baleine Phase 3 project, covering a full subsea production system package for 13 wells. The scope includes equipment such as subsea trees, umbilicals and manifolds, along with installation, commissioning and life-of-field support. SLB said the work will be carried out using its established local presence in Côte d’Ivoire. SLB shares climbed 1.24% to $48.35 on the day the news was released, outperforming declines in the S&P 500 (-0.35%) and Nasdaq (-1.10%) as energy was the only advancing sector.
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.
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