SLB LIMITED/NV (SLB) Company Report

SLB and Mubadala Energy have entered into multiple offshore drilling service contracts for the Tangkulo deepwater development in Indonesia.
The agreements cover integrated life-of-field drilling and gas well services, including directional drilling, subsea/completions services, well monitoring, cementing, flowline operations, well testing and full subsea-to-surface operations.
The project targets first natural gas by end of 2028, supporting Indonesia’s long-term energy security and economic growth by leveraging SLB’s deepwater technology to enhance safety and efficiency.

Feb 12, 2026, 10:21 PM

Press Release

SLB secures offshore drilling contracts for Tangkulo deepwater project in Indonesia

SLB

New Projects/Investments

SLB has been awarded multiple offshore drilling service contracts by Mubadala Energy for the Tangkulo deepwater gas field development in the Andaman Sea, Indonesia.
Contracts cover integrated drilling and well services—directional drilling, mud logging, cementing, wireline, slickline, coiled tubing, testing, and completions across the entire well lifecycle.
The partnership will utilize SLB’s advanced offshore and deepwater technologies, including real-time downhole monitoring, to reduce operational risk, optimize well placement, and enhance project economics.
The first gas production is targeted before end of 2028, supporting long-term energy security in Indonesia.

Feb 12, 2026, 10:20 PM

Press Release

SLB secures offshore drilling contracts for Tangkulo project

SLB

New Projects/Investments

SLB receives multiple offshore drilling service contracts from Mubadala Energy for the deepwater Tangkulo development in the Andaman Sea, Indonesia.
The integrated scope includes directional drilling, cementing, wireline, slickline, coiled tubing, well testing and upper and lower completions across the well life cycle.
First gas production is scheduled before end of 2028, supporting Indonesia’s long-term energy security.
SLB will deploy advanced offshore and deepwater technologies, including real-time downhole monitoring, to reduce operational risk and improve project economics.

Feb 12, 2026, 10:20 PM

Press Release

SLB wins integrated drilling contracts for Tangkulo deepwater

SLB

New Projects/Investments

SLB was awarded multiple offshore drilling and integrated well services contracts by Mubadala Energy for the Tangkulo deepwater gas development in the Andaman Sea, covering full-lifecycle services from directional drilling to completions.
The program targets first gas before the end of 2028, underscoring Tangkulo’s strategic importance to Indonesia’s energy supply.
SLB will deploy advanced offshore and deepwater technologies, including real-time downhole monitoring, to streamline operations and reduce execution risk.
The company’s financial strength supports the awards: market capitalization of $75.63 billion, over 75% of revenue from international markets, about $3 billion in digital revenue, current ratio of 1.33 and debt-to-equity of 0.45.

Feb 12, 2026, 2:12 PM

Morningstar

SLB awarded US$1.5 billion contract for Kuwait’s Mutriba field

SLB

New Projects/Investments

SLB secured a US$1.5 billion integrated development contract over five years from Kuwait Oil Company for the next phase of the Mutriba field.
The agreement encompasses design, development, and production management for high-pressure, high-temperature, acidic reservoirs.
It underscores an expanded scope and deepens SLB’s end-to-end partnership with Kuwait Oil Company.
The project prioritizes capital efficiency and environmental considerations to support safe, reliable execution in complex conditions.

Feb 3, 2026, 7:58 PM

Press Release

SLB awarded development contract for Kuwait’s Mutriba oil field

SLB

New Projects/Investments

SLB secured a five-year, $15 billion integrated development agreement with Kuwait Oil Company for the Mutriba oil field, covering planning, development and production management.
The scope includes geologic modeling, reservoir engineering, drilling and production management under high-pressure, high-temperature, sour conditions.
SLB will deliver end-to-end support through complex deep subsea layers, reflecting its multi-decade partnership with Kuwait Oil Company.
The project aims to accelerate remote resource development while optimizing capital efficiency and environmental performance.

Feb 3, 2026, 7:58 PM

Press Release

SLB awarded Kuwait’s Mutriba oil field integrated development contract

SLB

New Projects/Investments

Kuwait Oil Company has awarded SLB a five-year integrated development contract valued at $1.5 billion for the next phase of the Mutriba oil field, covering design, development and production management.
Under the agreement, SLB will deliver end-to-end support—including deep reservoir characterization—under high-pressure, high-temperature and sour conditions to enhance safety and reliability during complex development stages.
The contract highlights SLB’s multi-decade partnership with Kuwait Oil Company and positions SLB to assume full-cycle responsibilities as Mutriba advances into more challenging phases.
SLB’s expanded scope mirrors industry trends toward full-cycle delivery models, aiming to reduce execution risk and improve capital efficiency in increasingly complex reservoirs.

Feb 3, 2026, 7:57 PM

Press Release

SLB secures $1.5 billion Mutriba Field development contract

SLB

New Projects/Investments

Kuwait Oil Company awards SLB a five-year, $1.5 billion integrated development contract for the Mutriba Field in Kuwait.
SLB will provide end-to-end planning, development and production services, marking an expanded operational role.
The scope covers high-pressure, high-temperature and acidic reservoir conditions in deeper formations.
The award highlights the deepening long-term partnership between SLB and Kuwait Oil Company.

Feb 3, 2026, 7:57 PM

Press Release

SLB

New Projects/Investments

SLB ha ottenuto un contratto integrato da 1,5 miliardi di dollari per cinque anni da Kuwait Oil Company per la fase di sviluppo del giacimento Mutriba in Kuwait, includendo progettazione, sviluppo e gestione produttiva.
Il progetto riguarda lo sfruttamento di riservi ad alta pressione e alta temperatura, con condizioni acide, sfruttando l’esperienza di SLB nella caratterizzazione del sottosuolo per operare in condizioni più profonde e complesse.
SLB assume responsabilità estese nella fase avanzata dello sviluppo del giacimento, evidenziando competenze tecnologiche e operative su larga scala.

Feb 3, 2026, 7:57 PM

Press Release

SLB signs $1.5 billion deal for Mutriba oil field development

SLB

New Projects/Investments

SLB and Kuwait Oil Company signed a $1.5 billion five-year integrated development contract for the next phase of the Mutriba oil field.
SLB will provide integrated design, development, and production management services for the field’s deep, high-pressure/high-temperature, sulfur-bearing reservoirs.
The agreement leverages decades of partnership and broadens SLB’s global footprint in complex reservoir projects.

Feb 3, 2026, 7:57 PM

Press Release