Core 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]

Group 1 - Equinor ASA has awarded a sizeable EPCIC contract to Aker Solutions for the Fram Sør subsea development, marking a significant step in enhancing gas supply to Europe [1][2][9] - The contract value is estimated between NOK 0.5 billion and NOK 1.5 billion ($49-$150 million), with work already commenced and first production targeted for the end of 2029 [2][9] - The Fram Sør project will utilize existing infrastructure, with plans to develop 12 wells and additional slots for future development in the Fram/Troll area [3][5][9] Group 2 - Aker Solutions will lead the project execution from its Bergen office, with support from its Mumbai team, handling detailed engineering and procurement [4] - Equinor holds a 45% stake in the Fram Sør project, with Vår Energi and Inpex Idemitsu Norge holding 40% and 15% stakes, respectively [5]