SLB to Partner With Petronas on Oil and Gas Project in Suriname

By Kelly Cloonan

SLB and Petronas are teaming up to work on subsea oil and gas development projects in Suriname's frontier basin.

The companies said Tuesday that the Subsea Integration Alliance--which comprises SLB OneSubsea and Subsea7--will partner with Petronas' Suriname subsidiary. As part of the agreement, Subsea Integration Alliance may provide full engineering, procurement, construction, installation and commissioning solutions.

SLB, formerly known as Schlumberger, is an offshore drilling and oilfield services company. Petronas is the national oil and gas company of Malaysia.

The scope of the agreement includes subsea production systems as well as subsea umbilical, riser, and flowlines components.

The partnership aims to take advantage of resources in Suriname through cost-effective subsea solutions, the companies said. The companies did not disclose the financial terms of the collaboration.

Write to Kelly Cloonan at [e-mail]

(END) Dow Jones Newswires

04-07-26 1709ET