OneSubsea, legally ONESUBSEA AS, is a joint venture established in October 2023 combining the subsea businesses of SLB and Aker Solutions. It is owned 70% by SLB, 20% by Aker Solutions, and 10% by Subsea7. Headquartered in Oslo, Norway, and Houston, Texas, the company employs around 10,000 people globally and provides subsea production systems, umbilicals, and related solutions primarily for offshore oil and gas projects.
OneSubsea focuses on technologies to enhance subsea asset performance, reduce costs, and lower emissions. In 2026 it was awarded contracts including subsea systems for Equinor projects on the Norwegian continental shelf and other developments offshore Norway, Indonesia, Malaysia, and the Gulf of Mexico.
Also known as SLB OneSubsea and OneSubsea LLC.
chemXplore tracks 11 projects involving OneSubsea, of which 9 are active.
OneSubsea's role on them: EPC and Technology / equipment supplier.
6 expansion and 3 new construction.
5 of the active projects carry no start-up date yet.
Contractors and licensors are recorded on all 9 of them For subscribers
Targeting: Natural gas (8), Crude oil (7)
Adds ~30 million boe (mostly gas) and >4 billion m³ of gas; tied to Skarv FPSO with 4.5 kg CO2/boe intensity; lifts Skarv output toward 9 million boe by 2027.
Portfolio concentrated into fewer countries, expected ~USD 20bn free cash flow 2026–2030; US, Brazil and Angola to drive growth; higher margins from high-grading and stepped-up exploration.
Stage 2 began production on 22 August, accelerating 55 billion scm from Troll West, coming online early and several hundred million NOK below the original cost estimate.
LOI covers $32M for preliminary engineering and procurement to advance project definition; final EPC award depends on FID and government/regulatory approvals expected in 2026.
LOI covers limited engineering and procurement to advance project definition toward a 2026 FID; Phase 1 targets 18.6 mtpa from 12 modular trains with start-up in 2031.
Revenue $2.76bn; net income $363m; Subsea inbound $2.5bn; cash from operations $548m and free cash flow $488m; $440m returned to shareholders.
Adds two subsea water‑injection wells to boost reservoir pressure, unlocking ~10,000 boe/d gross peak and extending the Atlantis field’s producing life.
Double-digit underlying production growth, new JV and project FIDs, entry into critical minerals, and a larger share buyback with slightly higher 2026 production guidance.
By country, the most active first. active / all projects
