SLB and TotalEnergies Announce 10-Year Partnership to Collaborate on Next-Generation Digital Solutions

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SLB and TotalEnergies will combine digital and domain expertise to accelerate the development and deployment of digital solutions at scale. (Photo: Business Wire)

SLB (NYSE:SLB) and TotalEnergies (NYSE:TTE) today announced a 10-year partnership to co-develop scalable digital solutions for enabling access to energy resources, with improved performance and efficiency. The partnership establishes a flexible framework for the companies to work together on addressing key challenges across the energy value chain, including carbon capture, utilization, and sequestration (CCUS).

The companies will integrate advanced digital capabilities, including artificial intelligence (AI), with new and existing applications on SLB's extensible Delfi™ digital platform, adhering to the Open Group's OSDU^® Technical Standard. SLB and TotalEnergies will combine digital and domain expertise to accelerate the development and deployment of digital solutions at scale. The co-development will benefit TotalEnergies' global operations and SLB's worldwide customer base.

"Collaboration and knowledge sharing are key for our industry to continuously develop more effective ways of unlocking energy access," said Rakesh Jaggi, President of SLB's Digital & Integration business. "With this visionary partnership, we're combining the know-how and expertise of both companies to accelerate the delivery of new digital capabilities that will benefit the whole industry."

The partnership will initially focus on subsurface digital solutions for reservoir engineering and geoscience modeling and interpretation, leveraging Delfi™ on-demand reservoir simulation (ODRS). These processes will be accelerated and automated using AI and real-world learnings from both companies.

"Through this digital partnership we will develop cutting-edge next-generation software, digital applications and new algorithms applied to geoscience. Thanks to these innovative modeling technologies, we will not only be better able to utilize the analyses of geological reservoirs and basins in the Oil & Gas sector to reduce emissions but also to make further progress in geological carbon storage," said Namita Shah, President, OneTech at TotalEnergies.

About SLB

SLB (NYSE:SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "can," "estimate," "intend," "anticipate," "will," "potential," "projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB's new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB's strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

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