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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InReflecting the accelerating pace of energy development in West Africa, OneSubsea has secured a major Engineering, Procurement, and Construction (EPC) contract from Eni for Phase 3 of the Baleine field offshore Côte d'Ivoire. The joint venture, comprising SLB, Aker Solutions, and Subsea7, will supply integrated subsea production systems for 13 wells. This award is a critical component of the rapid expansion of the country's largest hydrocarbon discovery, underscoring the technical confidence in the OneSubsea alliance.
This contract highlights the ongoing momentum in deepwater investments, where oilfield service providers are competing for shares in mega-projects; previously, TechnipFMC secured similar awards for the same development according to industry reports. Financially, SLB continues to strengthen its order book, having reported revenues of $9.14 billion in its Q4 2024 earnings according to company filings, maintaining a robust position relative to its offshore services peers.
Regarding market performance, SLB closed at $47.76 while Eni (E) closed at $47.72 (close July 10, 2026). Investors are now looking toward the EIA Weekly Petroleum Report scheduled for July 8, 2026, as global inventory and demand data may influence risk appetite in the energy sector, particularly with SLB testing technical support near its recent low of $47.33.