ZACKS·2025-08-26 13:26Core Insights - SLB, through its OneSubsea joint venture, has secured a significant EPC contract from Equinor for the Fram Sør field development offshore Norway, marking a pivotal advancement in subsea electrification with the introduction of the first large-scale all-electric subsea production system [1][10] Group 1: Project Details - The contract includes the delivery of four subsea templates and 12 all-electric subsea trees, which will eliminate the need for hydraulic fluid from the host platform, thereby minimizing topside modifications and reducing complexity [2] - The Fram Sør development will be connected to the Troll C platform in the North Sea, benefiting from power supplied via the Norwegian mainland, which allows for ultra-low emissions production and enhances energy security for Europe [4][10] Group 2: Industry Impact - The Fram Sør project is seen as a breakthrough for the subsea industry, showcasing how electrified solutions can significantly reduce topside requirements and enable large-scale tiebacks, unlocking additional marginal resources due to their smaller footprint and streamlined operations [3] - Once approved, the Fram Sør project is expected to serve as a model for future low-emission, electrified subsea tiebacks, reinforcing SLB OneSubsea's position as a technology leader in subsea production [5]