SLB wins Oman facility expansion contract from OQEP

SLB (NYSE: SLB) has been awarded a contract by OQ Exploration & Production (OQEP) to deliver the Bisat-B Expansion Production Facility in Oman, according to a company press release.

Under the contract, SLB will provide design, engineering, procurement, construction, and commissioning services for the facility, followed by four years of operations and maintenance support. The expansion is expected to increase the facility's gross fluids handling capacity to 548,000 barrels per day, with project completion scheduled within 19 months.

The award follows SLB's prior work with OQEP on the Bisat Field, including delivery of the Bisat-A facility in 2018 and the original Bisat-B facility in 2020.

"We are pleased to continue supporting OQEP in the development of production infrastructure for the Bisat Field," said Jesus Lamas, president of Middle East and North Africa at SLB. "By combining our global expertise with decades of local experience in Oman, we will help support production growth while delivering safe, efficient and reliable performance for years to come."

The financial terms of the contract were not disclosed.

You May Also Be Interested In

• HeartSciences sets shareholder vote on Fortitude Mining merger
• Critical Metals sets share ratio for European Lithium acquisition
• SLB (SLB) PT Lowered to $63 at Piper Sandler