SLB Limited (NYSE:SLB) shares traded lower in Wednesday's premarket session.

On Tuesday, the company signed a strategic agreement with PETRONAS Suriname to advance subsea development in Suriname.

Details

The partnership focuses on co-developing cost-efficient solutions to accelerate field development and improve project economics.

The agreement also establishes a long-term collaboration framework, enabling early involvement across project lifecycles.

SLB said the partnership is designed to maximize value in Suriname's emerging frontier basin by leveraging the combined expertise of SLB OneSubsea and Subsea7.

Mads Hjelmeland, chief executive officer of SLB OneSubsea, said the agreement strengthens the company's long-standing relationship with PETRONAS Suriname and aligns both parties on improving project performance, enhancing safety, and delivering sustainable outcomes.

Recent Updates

Last month, SLB expanded its partnership with Nvidia Corp. (NASDAQ:NVDA) to strengthen AI infrastructure in the energy sector. The collaboration focuses on building modular data centers and developing generative AI models for large-scale energy operations.

Separately, the company signed a ...